Quotes of the day

The majority of major corporations and countries are headed by men. When women are appointed to leadership positions, it tends to be when an organization is in crisis - a phenomenon known as the glass cliff. Recent examples include: the appointment of Lynn Elsenhans as CEO of the oil company Sunoco in 2008, just after their shares had halved in value; and the election of Jóhanna Sigurðardóttir as prime minister of Iceland, just after her country's economy had been crippled by the global recession. Real life examples are supported by lab studies in which male and female participants show a bias for selecting female candidates to take charge of fictitious organizations in crisis. Further investigation has ruled out possible explanations for the glass cliff - it's not due to malicious sexism nor to women favoring such roles. Now a brand new study suggests the phenomenon occurs firstly, because a crisis shifts people's stereotyped view of what makes for an ideal leader, and secondly, because men generally don't fit that stereotype. '...[I]t may not be so important for the glass cliff that women are stereotypically seen as possessing more of the attributes that matter in times of crisis,' the researchers wrote, 'but rather that men are seen as lacking these attributes ...'.--Research Digest

As many as 60 Goldman executives could be stripped of their partnerships this year to make way for new blood, people with firsthand knowledge of the process say. Inside the firm, the process is known as “de-partnering.” Goldman does not disclose who is no longer a partner, and many move on to jobs elsewhere; some stay, telling few of their fate. “I have friends who have been de-partnered who are still there, and most people inside think they are still partners,” said one former Goldman executive, who spoke only on the condition of anonymity. “It is something you just don’t talk about.”--Susanne Craig