American Express, General Mills, and J.P. Morgan Chase & Co. Win 2001 Catalyst Award

Systemic Initiatives to Advance Women Recognized by Catalyst and North

America's Top Companies



Apr 02, 2001, 01:00 ET from Catalyst

    NEW YORK, April 2 /PRNewswire/ -- American Express Company, General Mills,
 Inc., and J.P. Morgan Chase & Co. received the 2001 Catalyst Award at a gala
 dinner at the Waldorf-Astoria in New York this evening. Chaired by
 Hewlett-Packard Chairman, President and CEO Carleton S. Fiorina and attended
 by 1,800 North American business leaders and more than 50 Fortune 500 CEOs,
 the 26th Annual Catalyst Awards Dinner celebrated the strategic approaches
 these organizations have adopted to advance women in business. Accepting the
 award on behalf of their companies were Kenneth I. Chenault, President and CEO
 of American Express Company; Stephen W. Sanger, Chairman and CEO of General
 Mills, Inc.; and William B. Harrison, President and CEO of J.P. Morgan Chase &
 Co.
     Sheila Wellington, President of Catalyst and author with Catalyst of "Be
 Your Own Mentor," remarked, "While the Catalyst Award honors companies for
 their commitment to women's advancement, it is the individuals in these
 companies that drive the initiatives. And these individuals, knowing that now
 more than ever, talent and commitment are essential for business success, are
 fostering that talent and commitment in all their employees, regardless of
 race or gender."
     The 2001 Catalyst Award-winning approaches are diverse and are driven by
 committed senior leadership. American Express's Building a "Winning Culture:
 Accountability Counts," centers on developing leadership competencies,
 including a focus on diversity, with strong accountability measures.
     General Mills' "Women in Leadership: The Power to Build the Future," is
 rooted in their Women's Forum which has created an environment of empowerment
 and open dialogue between women and senior executives.  Other formalized
 processes -- powerful network groups, mentoring programs, and Individual
 Development Plans -- work to help achieve the company's overall diversity
 objectives.
     J.P. Morgan Chase & Co.'s "Using Diversity to Forge a New Culture: The
 Chase-Chemical Merger Experience" highlights the company's commitment to
 diversity, sustaining their policies throughout Chase's merger process.  When
 merging with Chemical, Chase implemented its "merger of equals" philosophy,
 and integrated diversity into the company's core management processes,
 including such areas as mentoring and career development offerings.
     Some of the results of the award-winning initiatives are seen in the hard
 numbers-at American Express, the number of senior women has grown from
 19 percent in 1990 to 31 percent in 2000; at General Mills, women officers and
 directors have increased from 16 percent in 1993 to 27 percent in 2000; and at
 the time of its merger with J.P. Morgan, 24 percent of Chase's senior level
 management were women, up from 19 percent in 1996.
     Full texts of the remarks delivered by speakers at the April 2nd Awards
 Dinner are available in the press room at http://www.catalystwomen.org.
 Speakers include:
 
     -- Carleton S. Fiorina, Chairman, President, and CEO Hewlett-Packard
        Company
     -- Sheila W. Wellington, President, Catalyst
     -- Maria Bartiromo, Anchor, CNBC
     -- John F. Smith, Chairman,
        General Motors Corporation
     -- Kenneth I. Chenault, President and CEO
        American Express Company
     -- Stephen W. Sanger, Chairman and CEO
        General Mills, Inc.
     -- William B. Harrison, President and CEO
        J.P. Morgan Chase & Co.
 
     About the Catalyst Award
     Catalyst annually honors companies for outstanding approaches to advance
 women in business, evaluating senior management commitment, measurable
 results, accountability, replicability, and originality. Since 1987, the
 Catalyst Award has honored 45 corporate initiatives that have demonstrated a
 proven ability to advance women. The annual Catalyst Awards Dinner has become
 the preeminent venue for highlighting corporate leaders committed to women's
 advancement. It is accompanied by a full-day conference featuring analyses of
 the winning initiatives by company representatives, candid conversations of
 personal success strategies by high-level corporate and professional women
 executives, and several interactive sessions with Catalyst experts who address
 cutting-edge issues about women in business.
 
     About Catalyst
     Catalyst is the nonprofit research and advisory organization working to
 advance women in business, with offices in New York and Toronto. The leading
 source of information on women in business for the past four decades, Catalyst
 has the knowledge and tools that help companies and women maximize their
 potential. Our solutions-oriented approach-through research, Advisory
 Services, Corporate Board Placement, and the Catalyst Award-has earned the
 confidence of global business leaders. Catalyst President Sheila Wellington is
 the author of Be Your Own Mentor, released in February by Random House. For
 more information on the award-winning initiatives, visit the Catalyst Press
 Room at http://www.catalystwomen.org/press.html
 
 
                     About the 2001 Catalyst Award Winners
 
     American Express Company
     Efforts to build a winning culture-one in which diversity is a key
 component -- are part of an evolution at American Express.  Their initiative,
 "Building a Winning Culture: Accountability Counts," has created an
 environment in which leaders are not only encouraged but expected to integrate
 diversity into their business objectives, with a strong emphasis on
 accountability.  A Leadership Competency Model is used to set expectations and
 coach managers on key elements of leadership, including diversity.  Exhibiting
 effective behaviors and achieving results in this area comprise 50 percent of
 a leader's evaluation.  An annual Employee Survey, the primary method of
 measuring employee satisfaction, includes questions directly linked to
 diversity and accounts for an additional 12.5 percent of a leader's
 assessment.  To help build and sustain the awareness needed to further
 integrate diversity into the workplace, leaders are required to complete a
 comprehensive management-training curriculum over a 24-month period.  They are
 also expected to ensure diverse candidates are considered for every open
 position. President and CEO Kenneth Chenault reviews quarterly reports that
 analyze hiring efforts at all levels of the organization, and conducts follow-
 up discussions with business leaders, if necessary.  Together, these programs
 and others, create the foundation for building a winning culture.  The number
 of senior women at American Express, including women of color, has increased
 from 19 percent in 1990 to 31 percent in 2000 in the United States; women
 comprise 17.6 percent of their corporate officers, compared to only 12.5
 percent nationally.
 
     General Mills
     General Mills' initiative "Women in Leadership: The Power to Build the
 Future" centers on creating meaningful dialogue between diverse employees and
 senior leadership. The initiative is marked both by empowered employees who
 make recommendations that lead to real change and by senior leaders who
 continuously engage their workforce in conversations about diversity. At the
 hub of the initiative is the Women's Forum Offsite, an annual meeting of
 senior-level women at which critical issues are voiced by women and addressed
 jointly by the CEO, senior management, and the senior women themselves. Some
 of General Mills' most successful personnel policies and programs-including
 the re-formulated Individual Development Planning-have been improved through
 the Women's Forum's efforts. General Mills boasts other powerful employee
 networks, including the Black Champions Network that works to create culture
 change and increase the representation of African Americans at General Mills.
 CEO Stephen Sanger's strong support of network groups, and his personal
 efforts to understand the issues of women at General Mills, have created a
 culture that is open and inclusive. He has demonstrated his commitment to
 diversity by setting ambitious numerical goals for the representation of women
 and people of color. As a result, women officers and directors have increased
 from 16 percent in 1993 to 27 percent in 2000; women comprise 18 percent of
 their corporate officers.
 
     J.P. Morgan Chase & Co.
     Keeping diversity in the forefront during a large organizational change is
 a challenge for companies. "Using Diversity to Forge a New Culture: The
 Chase-Chemical Merger Experience" recognizes work originated by The Chase
 Manhattan Corporation which, at the time, was embarking on a merger with
 Chemical Bank. The Chase Manhattan Bank completed its merger with J.P. Morgan
 in late December 2000 to form J.P. Morgan Chase & Co., integrated diversity as
 a common thread through their business strategies and sustains its commitment
 to diversity, especially during mergers and acquisitions. A company-wide
 Diversity Council, chaired by CEO William Harrison, annually establishes a
 diversity agenda for the company. In addition, every Chase business hosts its
 own diversity council; there are 45 councils around the world. Each business
 creates a formal diversity plan tailored to its local needs. Components of
 each plan include recruiting, training, mentoring, networking, work/life
 programs, and career development. Managers' progress on diversity is evaluated
 using the "diversity scorecard" and results are tied to a manager's bonus. The
 crux of Chase's merger strategy is its comprehensive, straightforward
 communication strategy. Chase has multiple communication channels-including
 forums, newsletters, web sites, email, and town hall meetings-through which
 ongoing communication about success stories and information about diversity is
 disseminated to employees. For example, criteria for the selection of
 post-merger employees are made public, ensuring that the process is seen as
 fair and objective. At the time of its merger with J.P. Morgan, 24 percent of
 Chase's senior level management were women, up from 19 percent in 1996; women
 also comprise 19 percent of their corporate officers.
 
 

SOURCE Catalyst
    NEW YORK, April 2 /PRNewswire/ -- American Express Company, General Mills,
 Inc., and J.P. Morgan Chase & Co. received the 2001 Catalyst Award at a gala
 dinner at the Waldorf-Astoria in New York this evening. Chaired by
 Hewlett-Packard Chairman, President and CEO Carleton S. Fiorina and attended
 by 1,800 North American business leaders and more than 50 Fortune 500 CEOs,
 the 26th Annual Catalyst Awards Dinner celebrated the strategic approaches
 these organizations have adopted to advance women in business. Accepting the
 award on behalf of their companies were Kenneth I. Chenault, President and CEO
 of American Express Company; Stephen W. Sanger, Chairman and CEO of General
 Mills, Inc.; and William B. Harrison, President and CEO of J.P. Morgan Chase &
 Co.
     Sheila Wellington, President of Catalyst and author with Catalyst of "Be
 Your Own Mentor," remarked, "While the Catalyst Award honors companies for
 their commitment to women's advancement, it is the individuals in these
 companies that drive the initiatives. And these individuals, knowing that now
 more than ever, talent and commitment are essential for business success, are
 fostering that talent and commitment in all their employees, regardless of
 race or gender."
     The 2001 Catalyst Award-winning approaches are diverse and are driven by
 committed senior leadership. American Express's Building a "Winning Culture:
 Accountability Counts," centers on developing leadership competencies,
 including a focus on diversity, with strong accountability measures.
     General Mills' "Women in Leadership: The Power to Build the Future," is
 rooted in their Women's Forum which has created an environment of empowerment
 and open dialogue between women and senior executives.  Other formalized
 processes -- powerful network groups, mentoring programs, and Individual
 Development Plans -- work to help achieve the company's overall diversity
 objectives.
     J.P. Morgan Chase & Co.'s "Using Diversity to Forge a New Culture: The
 Chase-Chemical Merger Experience" highlights the company's commitment to
 diversity, sustaining their policies throughout Chase's merger process.  When
 merging with Chemical, Chase implemented its "merger of equals" philosophy,
 and integrated diversity into the company's core management processes,
 including such areas as mentoring and career development offerings.
     Some of the results of the award-winning initiatives are seen in the hard
 numbers-at American Express, the number of senior women has grown from
 19 percent in 1990 to 31 percent in 2000; at General Mills, women officers and
 directors have increased from 16 percent in 1993 to 27 percent in 2000; and at
 the time of its merger with J.P. Morgan, 24 percent of Chase's senior level
 management were women, up from 19 percent in 1996.
     Full texts of the remarks delivered by speakers at the April 2nd Awards
 Dinner are available in the press room at http://www.catalystwomen.org.
 Speakers include:
 
     -- Carleton S. Fiorina, Chairman, President, and CEO Hewlett-Packard
        Company
     -- Sheila W. Wellington, President, Catalyst
     -- Maria Bartiromo, Anchor, CNBC
     -- John F. Smith, Chairman,
        General Motors Corporation
     -- Kenneth I. Chenault, President and CEO
        American Express Company
     -- Stephen W. Sanger, Chairman and CEO
        General Mills, Inc.
     -- William B. Harrison, President and CEO
        J.P. Morgan Chase & Co.
 
     About the Catalyst Award
     Catalyst annually honors companies for outstanding approaches to advance
 women in business, evaluating senior management commitment, measurable
 results, accountability, replicability, and originality. Since 1987, the
 Catalyst Award has honored 45 corporate initiatives that have demonstrated a
 proven ability to advance women. The annual Catalyst Awards Dinner has become
 the preeminent venue for highlighting corporate leaders committed to women's
 advancement. It is accompanied by a full-day conference featuring analyses of
 the winning initiatives by company representatives, candid conversations of
 personal success strategies by high-level corporate and professional women
 executives, and several interactive sessions with Catalyst experts who address
 cutting-edge issues about women in business.
 
     About Catalyst
     Catalyst is the nonprofit research and advisory organization working to
 advance women in business, with offices in New York and Toronto. The leading
 source of information on women in business for the past four decades, Catalyst
 has the knowledge and tools that help companies and women maximize their
 potential. Our solutions-oriented approach-through research, Advisory
 Services, Corporate Board Placement, and the Catalyst Award-has earned the
 confidence of global business leaders. Catalyst President Sheila Wellington is
 the author of Be Your Own Mentor, released in February by Random House. For
 more information on the award-winning initiatives, visit the Catalyst Press
 Room at http://www.catalystwomen.org/press.html
 
 
                     About the 2001 Catalyst Award Winners
 
     American Express Company
     Efforts to build a winning culture-one in which diversity is a key
 component -- are part of an evolution at American Express.  Their initiative,
 "Building a Winning Culture: Accountability Counts," has created an
 environment in which leaders are not only encouraged but expected to integrate
 diversity into their business objectives, with a strong emphasis on
 accountability.  A Leadership Competency Model is used to set expectations and
 coach managers on key elements of leadership, including diversity.  Exhibiting
 effective behaviors and achieving results in this area comprise 50 percent of
 a leader's evaluation.  An annual Employee Survey, the primary method of
 measuring employee satisfaction, includes questions directly linked to
 diversity and accounts for an additional 12.5 percent of a leader's
 assessment.  To help build and sustain the awareness needed to further
 integrate diversity into the workplace, leaders are required to complete a
 comprehensive management-training curriculum over a 24-month period.  They are
 also expected to ensure diverse candidates are considered for every open
 position. President and CEO Kenneth Chenault reviews quarterly reports that
 analyze hiring efforts at all levels of the organization, and conducts follow-
 up discussions with business leaders, if necessary.  Together, these programs
 and others, create the foundation for building a winning culture.  The number
 of senior women at American Express, including women of color, has increased
 from 19 percent in 1990 to 31 percent in 2000 in the United States; women
 comprise 17.6 percent of their corporate officers, compared to only 12.5
 percent nationally.
 
     General Mills
     General Mills' initiative "Women in Leadership: The Power to Build the
 Future" centers on creating meaningful dialogue between diverse employees and
 senior leadership. The initiative is marked both by empowered employees who
 make recommendations that lead to real change and by senior leaders who
 continuously engage their workforce in conversations about diversity. At the
 hub of the initiative is the Women's Forum Offsite, an annual meeting of
 senior-level women at which critical issues are voiced by women and addressed
 jointly by the CEO, senior management, and the senior women themselves. Some
 of General Mills' most successful personnel policies and programs-including
 the re-formulated Individual Development Planning-have been improved through
 the Women's Forum's efforts. General Mills boasts other powerful employee
 networks, including the Black Champions Network that works to create culture
 change and increase the representation of African Americans at General Mills.
 CEO Stephen Sanger's strong support of network groups, and his personal
 efforts to understand the issues of women at General Mills, have created a
 culture that is open and inclusive. He has demonstrated his commitment to
 diversity by setting ambitious numerical goals for the representation of women
 and people of color. As a result, women officers and directors have increased
 from 16 percent in 1993 to 27 percent in 2000; women comprise 18 percent of
 their corporate officers.
 
     J.P. Morgan Chase & Co.
     Keeping diversity in the forefront during a large organizational change is
 a challenge for companies. "Using Diversity to Forge a New Culture: The
 Chase-Chemical Merger Experience" recognizes work originated by The Chase
 Manhattan Corporation which, at the time, was embarking on a merger with
 Chemical Bank. The Chase Manhattan Bank completed its merger with J.P. Morgan
 in late December 2000 to form J.P. Morgan Chase & Co., integrated diversity as
 a common thread through their business strategies and sustains its commitment
 to diversity, especially during mergers and acquisitions. A company-wide
 Diversity Council, chaired by CEO William Harrison, annually establishes a
 diversity agenda for the company. In addition, every Chase business hosts its
 own diversity council; there are 45 councils around the world. Each business
 creates a formal diversity plan tailored to its local needs. Components of
 each plan include recruiting, training, mentoring, networking, work/life
 programs, and career development. Managers' progress on diversity is evaluated
 using the "diversity scorecard" and results are tied to a manager's bonus. The
 crux of Chase's merger strategy is its comprehensive, straightforward
 communication strategy. Chase has multiple communication channels-including
 forums, newsletters, web sites, email, and town hall meetings-through which
 ongoing communication about success stories and information about diversity is
 disseminated to employees. For example, criteria for the selection of
 post-merger employees are made public, ensuring that the process is seen as
 fair and objective. At the time of its merger with J.P. Morgan, 24 percent of
 Chase's senior level management were women, up from 19 percent in 1996; women
 also comprise 19 percent of their corporate officers.
 
 SOURCE  Catalyst