Women Ceo's

Reasearch Report

I have decided to write my report on the female manager, identifying three women who are presidents or CEO's of companies listed on the New York Stock Exchange, providing information on their background and how they made it to the top.

The first female I wanted to talk about is Muriel Siebert. She is currently CEO of Siebert Financial Corporation. She has had a chair on the National Women's Business Council and she made history as the first woman to buy a seat on the New York Stock Exchange in 1967. I hope she fits in the category, because I think this lady is wonderful. Muriel Siebert has been called "The First Woman of Finance." Among other firsts, she is the first woman to own a seat on the New York Stock Exchange and the first to head one of its member firms, Muriel Siebert & Co., Inc. She took a leave from her firm in 1977 to serve five years as the first woman Superintendent of Banking for the State of New York. She is known as an outspoken speaker who pulls no punches in lectures, panels and talk shows. She often exhorts industry to utilize women more aggressively. "American business will find that women executives can be a strong competitive weapon against Japan and Germany and other countries that still limit their executive talent pool to the male 50 percent of their population."

Muriel Siebert has advised, "The men of the top of industry and government should be more willing to risk sharing leadership with women and minority members who are not merely clones of their white male buddies. In these fast-changing times we need the different viewpoints and experiences, we need the enlarged talent bank. The real risk lies in continuing to do things the way they've always been done."

Muriel Siebert not only proves what she preaches, but she practices it too. Her best-known gamble made historic waves in 1967 when she applied to become the first woman member of the New York Stock Exchange. Although she had risen to a partnership in a leading Wall Street brokerage firm and had made big money for colleagues, her effort was patronized, ridiculed or openly opposed by many men on Wall Street. She was turned down by nine of the first ten men she asked to sponsor her application.

Before considering her for membership, the Stock Exchange imposed a new condition: she needed a letter from a bank saying they would lend her $300,000 of the near-record $445,000 seat price. But banks would not commit to lend her the money until the Stock Exchange would agree to admit her. It took many months to overcome this double-bind and find the needed bank loans and sponsors. Muriel Siebert finally was elected to membership on December 28, 1967. On December 28, 1997 she celebrated her 30th anniversary. To commemorate 30 years of service as the first woman member of the New York Stock Exchange, she was invited to ring the closing bell at the New York Stock Exchange on January 5, 1998. She even brought her dog, Monster Girl, to share in this special event.

Muriel took another daring risk on Wall Street's famous "May Day", May 1, 1975, when a new federal law abolished fixed commissions for brokers. She announced that Muriel Siebert & Co., Inc. would become a discount commission house. A full-page newspaper ad featured a photo of Muriel cutting a hundred-dollar bill in half. Wall Street's reaction was quick and hostile. Her long-time clearing house dropped her instantly, and her firm faced SEC expulsion in 60 days if she could not find another house to clear her transactions. She wangled a 30-day extension, signed up another clearing house just before the deadline, and led her company to dramatic success in the new world of discount brokering.

The second lady I would like to talk about is Betsy D. Holden, who has more than 20 years of experience in the food industry. Holden joined General Foods Corporation (which later merged with Kraft, Inc.) in 1982 as an Assistant Product Manager in the Desserts Division. In 1984, she moved into Kraft's Venture Division as a Brand Manager, New Products and a year later became a Brand Manager for Miracle Whip. In 1987, Holden was promoted to Group Brand Manager for Confections and Snacks. Three years later she became Vice President of New Product Development and Strategy and in 1991 was named Vice President of Marketing, Dinners and Enhancers.

In 1993, Holden became President of the Tombstone Pizza Division. Holden was named Executive Vice President and General Manager of the Kraft Cheese Division in July 1995, and in November 1997 she was named President of the Kraft Cheese Division. In December 1998 Holden was elevated to Executive Vice President of Kraft Foods, Inc. responsible for Operations, Procurement, Research & Development, Consumer Insights & Communications, and E-Commerce.

She was first