Who would have guessed that as far as Fortune 500 companies go, Avon is way ahead of its peers when it comes to gender representation? A Cosmetics Design report from this week highlighted the fact that Sheri McCoy, the company's CEO, is the only female chief executive of a Fortune 500 cosmetics company. L Brands, Johnson & Johnson, Estee Lauder, Procter & Gamble, Colgate-Palmolive and Clorox are other cosmetic makers in the Fortune 500, but their CEOs are not female.
While there are many female CEOs of smaller cosmetics makers — think Emily Weiss of Glossier, Mary Dillon of Ulta and Miko Branch of Miss Jessie's haircare, to name a few — most are further downstream.
And juggernauts like Sephora and Shiseido still have male CEOs. Why does it matter? The products are made to target women. Need we say more? Female executives also often help companies see better returns on investments, regardless of their products. Here's hoping for more representation in the coming years.
- Alicia McElhaney / She Spends Issue #6