CEOS, PENSION LEADERS CALL FOR EARLY TRAINING OF WOMEN IN BUSINESS, FINANCIAL SERVICES — Business & Leadership Academy • Girls With Impact (GWI)

GenZ Women CEOs Showcase the Power of Early Business Education

3 Actions for Leaders to Harness Women’s Talents

FOR IMMEDIATE RELEASE

May 12, 2023

Beverly Hills, CA -- Citing the $28 trillion global economic opportunity by investing in women, CEOs gathered during the Milken Conference to focus on educating the next generation of women in business.

Over 100 leaders attending Milken gathered at a special reception to hear from two GenZ women CEOs -- along with Anastasia Titarchuk, Chief Investment Officer for The New York State Common Retirement Fund, the nation’s third largest public pension fund, and Victor Khosla, Founder & CIO of Strategic Value Partners -- to focus on how to harness this talent to drive diversity and growth.

“It’s really hard to know how to get into business,” said Titarchuk, an immigrant. “If it weren’t for my sister, I’d be on a different path. And that’s why organizations like Girls With Impact are so important.”

“In India, less than 25% of women work,” said Khosla. “And the financial industry isn’t much better. Yet these are high-paying, productive and fun jobs. It’s a shame. Imagine the impact on our productivity and growth if more women were participating.”

“Nearly 55% of GenZ women want to become their own bosses -- and 70% want to drive innovation - whether at work or in their own business, according to a GWI report. Yet, just 36% see themselves as leaders,” said Girls With Impact CEO Jennifer Openshaw.

“The next generation wants our help,” said Openshaw. “They have enormous potential. There’s proof that if we invest early in educating them for the business world, it’s a huge payoff. It’s smart for America. It’s smart for all of us.”

Openshaw introduced two Girls With Impact graduates - CEOs who underwent the 10-week Business & Leadership Academy, where they learn to build critical work readiness skills and bring a business idea to life. To date, Girls With Impact has trained 10,000 young women resulting in increased confidence, public speaking, tech, financial and other skills.

Anika Mistry, 20, a student at Johns Hopkins University and CEO of DevMind VR, said she entered the Academy after two years of research on her idea to improve the lives of those with autism. “I wanted to go the next step. At 17, I didn’t know what a SWOT analysis was or the first step to make my idea a reality,” she said.

DevMind VR, using a virtual reality solution to support the social challenges of youth with autism, has already helped 100 children and is at the center of Mistry’s college work.

As a result of the Girls With Impact program that set her apart, Mistry was awarded three full-ride college scholarships to Boston College, The University of Southern California and Johns Hopkins University. “I added it up: almost $1 million in scholarships,” she said.

Siga Sakho, 17, is a student at Los Angeles’s only all-girls public school, known as GALA. She created Dear L.A. to address the growth in “medical deserts” that disproportionally impact communities of color. “I was looking for a network of likeminded young women to share my ideas and bring equity in health care to these communities like mine.”

“Even though I’m still in high school, Girls With Impact has helped me figure out what I want to be and engage with policy leaders,” added Sakho.

The leaders focused on three key actions to support women in business:

- Re-think job descriptions - Khosla -- looking to hire a female chairman -- shared how he went back to the drawing board on his job description. “Rather than looking for someone with CEO experience, which limited the pool, we expanded it to someone with P&L experience. We got an amazing candidate.”

- Know your value proposition -- Titarchuk shared, “I know what my value prop is: you can have an amazing seat with access to some of the best managers and opportunities; you get work-life flexibility.”

- Set the tone from the top -- Whether it’s the CEO or the head of a division, the culture and priority to advance women starts with the leader. Titarchuk pointed to a “culture of diversity” both internally through its high percentage of women in leadership roles in her department and externally through encouraging investment managers to achieve greater diversity.

“I’m the third female CIO,” said Titarchuk. “The comptroller has made it a priority. It starts at the top.”

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