Marrying Style And Technology, Andrea Jung Remains The Only Woman On Apple’s Board Of Directors!
For all of the gains in social equality and advances in technology, women still account for a staggeringly low proportion of executives in major corporations. Samsung, for example, does not have a single woman on its Board of Directors, even for its U.S. Board! Apple Computers was in the same boat for quite some time, though all that changed in 2008 when the company elected Andrea Jung to its Board of Directors.
Andrea Jung was the CEO and chairwoman of Avon Products, the beauty product company, when Apple elected her to its Board of Directors. With almost a decade of experience on the Board of Directors at Avon, with various roles from President to Chief Operating Officer, Jung came to Apple Computers with a stunning portfolio of successful business experience. Even now, Jung embodies a higher level of business ethics in her dual roles with Apple and Avon; when Avon Products found itself embroiled in allegations of bribery overseas in 2011, while Jung denied the allegations, she was quoted as taking responsibility for the actions of her subordinates who might have acted without her knowledge! That level of corporate responsibility is refreshing.
For Apple, Andrea Jung is the chair of the compensation committee. While Jung gained a great deal of prestige as a co-lead director of Apple’s Board, chairing the compensation committee gives her an exceptional amount of power. As the chairperson of the compensation committee, Jung oversees the body that determines the incentive and compensation plans for all of Apple Computers! This effectively means that Jung is the one who has the final word on all proposals that include providing executives with raises or severance packages.
One of the unique duties that Jung performs as the chair of the compensation committee is performing a review of the CEO’s performance each year! While virtually everyone knew Steve Jobs, few knew that Andrea Jung was the one who had to rate his performance and judge how his proposals would affect the company for years to come. Now, Jung performs the same duty on Tim Cook and has to present her findings to the full Board of Directors each year!
Few women rise to the top in the business world and the technology sector is one in which it remains especially difficult to women to break the glass ceiling. With her proven track record of success at Avon and her fearless evaluations of corporate powerhouses like Steve Jobs and Tim Cook, it is no surprise that Andrea Jung is breaking down the gender barriers at the top of Apple!
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