Best Buy sets example and offers a good case for analysis in corporate governance

It is encouraging to learn about more talented women being appointed as CEOs! The recent appointment of Corie Barry as Best Buy’s first female CEOin over 50 years is inspiring.

It also shows an evolution in Best Buy’s culture and not just a ‘solo’ event. In fact, Best Buy initiated some years ago, a journey towards gaining gender parity not only in the executive ranks but also in the boardroom. As a result, they will have a majority female Board, once Barry joins it this coming June.

These actions are important because they contribute to a sustainable critical mass of women to bring significant change to the boardroom and improve corporate governance and culture overall.

It has been demonstrated that the number of women in a Board matters. Certainly, a single women can make great contributions but by appointing more than one, the likelihood of being heard, not being socially excluded and achieving more collaborative discussions increases significantly. 

An identical phenomenon happens in the c-suites levels. In this environment, the CEO’s tone from the top, supporting active and lively participation from everybody, regardless of gender, becomes key.

The question now becomes how many women constitute a critical mass and what will be the effects of having an unusual imbalance in the female side of the spectrum. Best Buy is offering us a good case for analysis!

PD: I invite you to follow me in Twitter where I will also be publishing my articles, reflections, comments and content. You can find me, as in the others social media channels, under @dortegasosa. I look forward to your participation!

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