All Articles Tagged "african american ceo"
While it seems some women are breaking the corporate ceiling, many African-American female executives are finding themselves left behind. And those who do reach the pinnacle of success in their industries are finding that they face harsher penalties than other business leaders when organizations fail.
According to a new study by professors Ashleigh Shelby Rosette of Duke University’s Fuqua School of Business and Robert W. Livingston of Northwestern University’s Kellogg School of Management, black women point-blank have a harder time of their jobs in leadership positions. The study, entitled “Failure is not an option for Black women: Effects of organizational performance on leaders with single versus dual-subordinate identities,“ is published in the Journal of Experimental Social Psychology and was covered today on The Huffington Post.
For the study, 228 participants “read fictitious news articles about a company’s performance, including permutations in which the leader was black or white, male or female and successful or unsuccessful. What they found was that black women who failed were viewed more critically than their underperforming white or male counterparts — even those of the same race,” HuffPo writes.
Author and life empowerment coach Dr. Anita Davis DeFoe said in an online chat that black women must face the reality that racism exists in the workplace and learn to overcome other people’s preconceptions. “People will always bring their stereotypical thinking and biases into the workplace, so as women of color we must accept this, hope that it changes, but meanwhile focus on aspects of our work life we can control.” In order to do this, Dr. DeFoe advises:
1. Focus on strengthening your personal emotional intelligence (EQ). No one is able to increase the emotional intelligence of another, especially in the workplace. Understanding your level of emotional intelligence will help you build stronger relationships, succeed at work and achieve your career and personal goals, in spite of biases.
2. Become an irreplaceable employee. Develop skills and productivity levels that make you a star employee in the company. Results can overcome many discrimination issues as competency is always regarded. You do not necessarily have to have popular to have power. By being an employee who is highly valuable, your status and responsibilities will naturally increase to meet the company’s needs and foster the respect that you deserve.
Ephren Taylor II could have been the much needed entrepreneurial role model in the black community. He called himself the youngest-ever black CEO and his business, City Capital Corporation, was founded to supposedly assist charities and businesses in poor communities. Turns out, Taylor’s business wasn’t quite as giving as it appeared. CNN Money reports that the Securities and Exchange Commission is charging Taylor with running a Ponzi scheme, alleging he swindled more than $11 million from investors from 2008 to 2010.
“Ephren Taylor professed to be in the business of socially-conscious investing,” CNN Money reports David Woodcock, the director of the SEC’s Fort Worth regional office, said in a statement.
“Instead, he was in the business of promoting Ephren Taylor…He preyed upon investors’ faith and their desire to help others, convincing them that they could earn healthy returns while also helping their communities.”
Taylor proclaiming he’d been able to earn his first million while running a software company in high school. He had been featured on CNN, CNBC, Fox News and NPR, offering his take on running a successful business. He used the money from City Capital Corporation to fund his lavish lifestyle, promote his three books, travel on a speaking tour and promote his wife’s singing career.
“People have lost their homes, people have become estranged from their families,” Cathy Lergman, a lawyer for City Capital Corporation’s investors said. “He devastated a lot of people, and he targeted his own — he targeted African-American Christians, and those people have suffered greatly from being affiliated with Ephren Taylor.”
Wendy Connor, the former chief operating officer of Taylor City Capital Corporation is also facing charges. As of yet it is uncertain whether Taylor has legal representation. His spokeswoman disclosed that she no longer represented him.
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(D Magazine) — Ussery has been with the team since 1997, predating his current boss’ ownership. Under previous Mavericks owner Ross Perot Jr., Ussery was instrumental in getting American Airlines Center designed, financed, and built. Since then, he has helped Cuban’s Mavericks reach lucrative deals with a range of corporate partners, more than double ticket revenue, and reap a windfall from improved TV deals. Plus, Ussery was the linchpin in the complex deal that brought the NBA All-Star Game to Cowboys Stadium last year—the biggest event in basketball history. That’s why some believe Ussery could succeed Stern as NBA commissioner someday. But no matter how well Ussery has done his job of improving revenue and expanding the Dallas Mavericks brand, there is one thing he can’t do: put the team in the black. And the thing is, he’s okay with that….
“You can look at whatever benchmark you want,” Ussery says. “Overall revenue, revenue per head, revenue per account, entertainment value, value per dollar—use whatever metric you want to use. By any of them we are exponentially better today than we were 10 years ago. Without qualification. But the problem is that in sports, more than any other business, there is always the next guy who is going to get you the championship. Now, he’s going to cost you $25 million that you didn’t budget for. But he’s going to get you a championship. And so, in this business, whether it is the New York Yankees or some of the teams in our league or in other sports leagues, if you want a championship, you pay those guys. And it is always difficult on the revenue side to keep up with the lack of predictability on the expense side.”
(Exec Digital) — On a sunny day in Washington, D.C. at the steps of the Lincoln Memorial, Martin Luther King, Jr. delivered one of the most storied and passionate speeches in American history. King’s “I Have a Dream” speech was a 17-minute message of hope for not just the embattled African-American community but for a society that was entrenched in separation. Since Martin Luther King Jr.’s death, African-Americans have taken great strides in all aspects of society, and business has been one sector that a once downtrodden culture has influenced. These top African-American CEOs of Fortune 500 companies are examples of King’s dream turning to reality.
By Brittany Hutson and R. Asmerom
It’s certainly been a whirlwind decade for the Black community to say the least. We’ve witnessed history making moments, events that brought to light the struggles that still plague our community, devastating natural disasters, and moments that caused us to scratch our head, raise an eyebrow and think ‘what the…?’ Take a stroll down memory lane with us as we recap some of those moments:
One of the five deadliest hurricanes in the history of the U.S., Katrina caused devastation when it hit the Gulf Coast states (from Florida to Texas) in August 2005. New Orleans bore the brunt of the devastation as the category 3 storm with maximum winds near 125 mph caused the levies to break and flood nearly 80% of the city. The nation was in utter shock as images filtered across television screens, on websites and in publications of residents stranded on the roof of flooded homes, or in boats, waiting for help without water or food.
Katrina caused the deaths of at least 1,836 people and caused immense damage—early estimates of total property damage were $81 billion. Over one million people were displaced and sought solace in cities such as Houston, TX, Mobile, Ala, Baton Rouge, La, and Chicago. Federal, state and local governments were criticized for their mismanagement and delayed response to the storm.
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(Wall Street Journal) – Larry Ellison, founder and chief executive of software maker Oracle Corp., topped the list of best-paid executives of public companies during the past decade, receiving $1.84 billion in compensation, according to a Wall Street Journal analysis of CEO pay. Coming in No. 2 on the compensation list was Barry Diller, who received roughly $1.14 billion from IAC/InterActive and Expedia.com, the online travel site IAC spun off in 2005, where he remains chairman.
Rodney O’Neal can definitely lay claim to being part of the auto industry’s innovation engine. As the Chief Executive Officer and President of Delphi Automotive LLP, he runs the leading global supplier of electronics and technologies for automotive and commercial vehicles, helping the former GM subsidiary weather the economic recession and position itself for a prosperous future in the manufacturing industry.
That know-how and expertise comes from his nearly 40-year career in the auto arena. Having recently received the 2010 Distinguished Service Citation from the Automotive Hall of Fame, which is given out to five individuals a year, it’s clear that his industry has taken notice. We caught up with the busy CEO to pose 10 questions about his career and his love of all things automotive.
1. Have you always been interested in the automotive industry? Are you like so many others who simply have a passion for cars?
I had a similar passion. When I was younger, I used to sit on the front porch and watch cars go by and say ‘that’s my car.’ I’ve always been in love with cars. I dreamed of owning a Camaro Z28 and actually did years ago.
2. What was your first job in the industry?
I’ve been in the industry since 1971. GMI [now Kettering University] was highly acclaimed and provided school and work rotation. As a result you were employed and paid. That allowed me to pay for my education. I worked in cooperative production engineering. Then I went to the floor and found my love for manufacturing.
3. How has the automotive industry changed since you got that first job?
The automobile industry has been revolutionized in terms of safety. It’s safer for sure, more fuel efficient,and it provides all the things for freedom of transportation.
4. How steep was the corporate ladder you had to climb? Did you find added challenges while climbing toward your goal as an African-American?
That’s a complex question. One of the key things is an outstanding education. I combined an excellent education from GMI and Stanford University with outstanding experiences. Of course you [climb the ladder] yourself, but there are so many people who have assisted me. What you find is you do your best work with others.
5. As an African American CEO do you consider yourself a trailblazer?
No. I’m not a trailblazer. The true trailblazers came before me.
6. Who most influenced you?
I’d have to go back to my father. Education was a critical issue with him. In my teens I thought if I had a $20,000 salary, a nice car, and a nice crib, that would be good. My father said I was not thinking big enough.
7. Do you mentor other young African-Americans? Did you benefit from mentors?
I was on the board of INROADS [mentoring program]. For me there weren’t a lot of those programs. But society has changed because of trailblazers. There’s more opportunity. When I was coming up, there was a lot [of strife] between African-Americans and Caucasians, now it’s more complex with the affirmative action [debate]. Success is still a challenge.
8. What was or is the best piece of personal or professional advice that has helped you along your journey?
I don’t think there’s one [piece of advice] there’s a couple. I think it’s important to be accessible and to be in touch. Success is not defined by your title, or your house or your car, or your bank account. Success is formed by how many hearts you touch along the way.
9. What is the most important thing you want people to know about Delphi?
We are a technology company committed to safety and connectivity. We’ve been through a lot, with the economic collapse and the resulting deep recession particularly in the U.S. Delphi is a company that has gone through a lot of transformation and growth, reshaping itself into this global company. In 2005 we rotated our business foot print. Now, 43% of our business is in Europe, 20% is in Asia, 10% in South America and 27% in the U.S.
10. What is the most important thing you want people to know about you?
There are tons of decisions that have to be made. At the end of the day, I have to make the right call at the right time. That can be tough. You care about your community, your company and people. What I want people to know is Rodney O’Neal is one that truly does care, and tries to do the best with what the world has in store.