CEO, Burberry
What is the best and worst decision you've ever made?
Best: Joining Burberry as CEO to revitalize this great brand. Worst: Leaving a job prior to having another.
What was your dream job as a kid and why?
President of Donna Karan, because it was a great company and brand for women.
What do you think is the most significant barrier to female leadership?
Being taken seriously and handling three jobs simultaneously — CEO, Wife and Mother.
What woman inspires you and why?
My Mother, as I trust her implicitly and know she will always be open and honest, and always has my best interests at heart.
What will be the biggest challenge for the generation of women behind you?
The ability to multi-task as life and careers demand more.
Co-President, Oracle
What is the best and worst decision you've ever made?
My best decision was to choose to go to Wall Street over law. I learned a lot and focused on the expanding software industry at a time when the independent software industry was just beginning. That ultimately brought me to Oracle. The worst decision, hands down, was wearing bright yellow when I was 9 months pregnant. I looked like a bumble bee. I have not worn yellow since.
What was your dream job as a kid and why?
My dream job was to work in an ice cream shop. Two weeks and five pounds later, I realized it wasn't for me. For many years I had planned to be a corporate lawyer. As luck would have it, other than a summer internship, I didn't end up doing that either.
What do you think is the most significant barrier to female leadership?
The most significant barrier to female leadership is the actual lack of females in leadership. The best advice I can give to women is to go out and start something, ideally their own businesses. If you can't see a path for leadership within your own company, go blaze a trail of your own.
What woman inspires you and why?
My greatest inspiration is my mother, the bravest person I ever knew. She overcame incredible odds, worked while raising two kids, and made it all look incredibly simple. Even in her final days succumbing to cancer, she fought like a champion.
What will be the biggest challenge for the generation of women behind you?
The biggest challenge for the next generation of women is to turn these generational expectations on their ear. Hopefully in the future generational challenges will be measured by achievement, not gender.
EVP, Global People Division, Wal-Mart Stores
What is the best and worst decision you've ever made?
My best decision was going on a blind date 32 years ago and meeting my husband. We have both had very successful careers, and he was confident enough to run his business from our home while caring for our three children. We are a team, and I would not be in this job if I hadn't had his support. My worst decision was leaving music. I pursued business to support my family, but I was a vocal performance major in college. I still sing, but not as much as I used to. Maybe it's my worst decision, but it couldn't have turned out better. There is something to be said for being willing to follow opportunity, even if it's not what you had planned. There's merit in that kind of thinking for women.
What was your dream job as a kid and why?
When I was 18, I auditioned for a role as a musical performer at a local theme park. These roles were very coveted, and I qualified for the final round of auditions. Unfortunately, a family emergency prevented me from going to the last audition, and I didn't get the part. I've always regretted that. It may sound silly, but as a freshman in college, singing show tunes at a theme park was my dream job.
What do you think is the most significant barrier to female leadership?
Some of the main barriers that I see women facing are the ones they create for themselves. Many women lack confidence, even though they are talented and qualified for leadership. Women are spontaneous confessors and tend to disclose their vulnerabilities first. At Walmart, we've developed several women's groups to foster mentoring relationships and encourage women to lift each other up. Women need to believe in themselves and be aware of how much they have to offer — and not apologize for it.
What woman inspires you and why?
There are several women who inspire me, but this year, I had the opportunity to meet Grace Nanyonga through the FORTUNE/U.S. State Department Global Women's Mentoring Partnership. Grace is from Uganda and lost her parents at a very early age. She lifted herself out of adversity, put herself through school and took care of her siblings by starting her own business, Grana Supplies. She began by roasting chicken and later learned to smoke fish. She spent three weeks with us at Walmart recently, and her story of determination and hard work changed the thinking of everyone she met. She's teaching other women to smoke fish and she speaks at local schools to motivate young girls. We worked with her and helped her, but she did so much more for us at Walmart than we ever did for her. Her enthusiasm and strength is extraordinary.
What will be the biggest challenge for the generation of women behind you?
One of the biggest challenges is having the confidence to accept that we are all role models for somebody. Every generation builds on what has gone before, and the next generation is poised for success. All around the world, not just in the U.S., there's a momentum among women that is undeniable. But women have to remember — throughout their careers, not just at their peak — that they can always reach out and help others. You don't arrive one day as a role model. You're always a role model for someone.
Global CEO, Chanel
What is the best and worst decision you've ever made?
Best decision: hard to boil it down from just one decision but I would say the best decisions I have made in my career have been from taking risks at the right time and following my heart. From the time I was 16, I wanted to live in Paris. When I graduated college and didn't have a job, I went to take the LSAT because I didn't know what else to do. I walked out in the middle of the test and eventually, found an internship in Paris at L'Oreal. That job was the beginning of my career and love affair with the world of beauty and fashion. Later, when I was working at the Gap division, I was offered the opportunity to start a retail concept that consisted of value priced, hip clothes in a new environment. While I thought that I should be in the luxury business, I took a chance because the idea was new and exciting and something that didn't exist. We consequently grew Old Navy to a $5 billion brand and I gained enormous experience in building a team and a new brand. Finally, and probably my most important decision was to leave Banana Republic and my home in California where we had been living for 15 years, to move to Paris and join Chanel, once again, following my heart.
Worst decision: Again, hard to choose one but I would say my worst decisions revolved around hiring the wrong people or even the right people at the wrong time. Often, the pressure of the business and fear of having an open position encourages us to hire people who are either not right for the job or not ready to take on the responsibility. I have often made this mistake and now realize that it is not just the quality of the candidate, but their fit with the brand, the business cycle and the existing teams. I also have learned that even the best candidates need time to acclimate to the new environment so you can't rush the on-boarding process.
What was your dream job as a kid and why?
I just dreamed about living in Paris and being French. I always loved the visual arts: film and theatre and I hoped to be involved in creating beautiful products and images.
What do you think is the most significant barrier to female leadership?
I think that the barrier has to do with familiarity. We are used to seeing men lead and so have an immediate confidence and comfort in what they might do, even if they are less qualified for a job. Men display less self-doubt and lead with what seems always like a sense of force and direction. We are not as familiar with women leaders and so we question their skills. As women, we always need to work harder to prove our competence.
What woman inspires you and why?
I recently met Zainab Salbi, who is the founder of the organization Women for Women. She inspires me because she has had the courage to tell her story to the world and to use her inner strength to help other woman, survivors of war and violence, to gain dignity and independence. She has created a powerful foundation that engages women around the world to help each other.
What will be the biggest challenge for the generation of women behind you?
I still think that because there are less women leaders than men, we have a preconceived notion that male leadership is more effective than female leadership. That being said, it is a question of time. I believe that as more and more woman gain positions of leadership, it will become easier for generations ahead. The advantages of the feminine style of leadership will begin to outweigh the negative perceptions.
Global head of Commodities, Goldman Sachs
What is the best and worst decision you've ever made?
Two best decisions come to mind. The first is moving to London from Paris when my first employer decided to develop a risk management business in London, which opened tremendous opportunities for me. The second is marrying my husband. He has been an amazing support to me in so many ways, including his decision to stay home with our children to allow me to focus on my career. The most difficult decision I've made was returning to work after only a few weeks off following the birth of our children. I regret missing out on such a special time in my family's life, and I would encourage women to do what they can to fully savor the experience.
What was your dream job as a kid and why?
My dream job as a child was to be a pilot in the French army. My father was a colonel in the army and I admired many aspects of this career: the challenge, the independence and the service to one's country.
What do you think is the most significant barrier to female leadership?
A real barrier is the lack of a critical mass of talented women leaders as role models and mentors. Also, I think women too often lack confidence in their ability to deliver.
What woman inspires you and why?
I am inspired by Simone Veil, a true hero and advocate for women's rights. She survived imprisonment in Auschwitz in World War II, then went on to serve her country as Minister of Health under Valéry Giscard d'Estaing and as the first President of the European Parliament. I admire the dedication to addressing health and social issues that she has demonstrated over the course of her career.
What will be the biggest challenge for the generation of women behind you?
I think the greatest challenge for women in the generation behind me will be achieving work life balance. I hope they will be able to take full advantage of what has been accomplished by previous generations of women without sacrificing their personal lives.
President and Chief Executive Officer Reynolds American Inc.
What is the best and worst decision you've ever made?
One of the best decisions I ever made was to accept a job offer in London. I had 48 hours to make the decision, and the stakes were high. It would require me to leave the town where I'd been living for 10 years; I would be joining an organization where I knew very few people; and truth be told, I wasn't entirely sure I could succeed in the job! But at the end of the day, I took the leap — I knew I could always come home if things didn't work out, but I did not want to spend the rest of my career wondering "what if." As it turned out, I spent seven years in London, two in Hong Kong, and traveled to 70 countries. It truly reshaped my view of the world and my definition of leadership.
I'm not sure I can name a "worst" decision. Certainly there are things I would have done differently in hindsight, but I believe that we all must collect and evaluate the information available to us, make the decision that we believe best, and work to achieve success. It's almost always possible to course-correct if needed, but agonizing over every single decision will grind an organization down to gridlock. People need to feel empowered to make decisions and take ownership of their accountabilities — second-guessing after the fact is not helpful.
What was your dream job as a kid and why?
My mom was an administrative assistant, so growing up I took shorthand and typing, thinking that I'd at least always be able to find work. When I graduated from college, I took a job that I ended up hating — I had no passion for the category I was in or the products I was selling. So I decided I would change jobs and choose an industry whose products I personally enjoyed. At that age, the range was pretty limited — I narrowed it down to cosmetics, alcohol and tobacco. I quit the job I hated, took a job in the tobacco industry and have worked in the industry now for nearly 30 years.
What do you think is the most significant barrier to female leadership?
I tell female professionals that if they work in an organization where they do not feel they can advance, they should quit. It is unrealistic to expect that one individual can change an organization's culture singlehandedly. Frankly, the last generation of male managers who did not work side-by-side with female professionals is getting ready to retire — some of the barriers to women entering upper management are simply aging out. I don't think the mythical "glass ceiling" is going to be a viable reason for not advancing your career in most organizations for very long.
What woman inspires you and why?
I've always admired two true pioneers in the beverage industry: Madame Clicquot and Lily Bollinger. They built champagne empires through vision, hard work and great marketing at a time when women were hardly the captains of industry. Again, their success is a testament to having vision and passion for what you do.
What will be the biggest challenge for the generation of women behind you?
I would give the same advice to all young professionals, both male and female: find something you have a passion for and be willing to try things you secretly think you may not be able to do. That is the only way to truly learn what it is you can do. As they say, life is not a dress rehearsal — and you will only know your limits if you continually test them. Every generation, every business, every human being faces challenges — that's not the point. The point is what you do with them, and how you adapt and grow through them.
EVP Space Systems, Lockheed Martin
What is the best and worst decision you've ever made?
Best decision: Leaving company I had worked at my entire career (28 years) when it seemed my leadership options were limited and joining Lockheed Martin where the culture of ethics and inclusion as embodied by CEO Bob Stevens offered the opportunity to lead the finest aerospace organization in the world!
Worst decision: drawing a blank here ... I really have not many regrets!
What was your dream job as a kid and why?
As a child, like many kids, I aspired to be a teacher. To share knowledge and give service like so many of the nuns who taught me in parochial school has always held attraction for me. Indeed as a leader in the aerospace and defense industry, I get some of my greatest rewards sharing knowledge with the extraordinary teams with whom I work and giving service by providing space systems that help to make the world a safer place.
What do you think is the most significant barrier to female leadership?
Cultural stereotypes continue to present significant challenges for women leaders. Stereotypes routinely cause men and women to underestimate and underutilize women's leadership talent. For example, when women leaders act in gender-consistent ways — cooperative and relationship-focused — they "fit in" as women, but are often perceived as soft leaders by both genders. When women act "like men" — authoritative or ambitious — they are often viewed as too tough and overly aggressive. As a result, successful women leaders must learn to effectively thread the needle and call on the leadership attributes of men and women when the time demands.
What woman inspires you and why?
Golda Meir inspires me. As prime minister of Israel from 1969-1974, she was a pioneer for women leaders well before other icons like Margaret Thatcher. Leading Israel during a time of great turbulence and danger (like the Munich Olympics, Yom Kippur War), she showed extraordinary strength and wisdom.
What will be the biggest challenge for the generation of women behind you?
Generation Y women are confident they can have it all and are redefining success. Research tells us they are highly ambitious, but they have articulated that they are not as interested in the corporate ladder. They want a career that inspires passion. They seek to advance quickly, but still insist upon balance among career, family and personal life. They value control and flexibility as an ultimate goal. As this generation enters an unpredictable marketplace and a demanding — and at times inflexible — work environment, I hope that they will choose to transform the workplace with their values, rather than opt out of leadership.
President, International, J.P. Morgan
What is the best and worst decision you've ever made?
I would say it was a mistake staying at Chemical Bank as long as I did. I let the limitations of the bank define how much I could get done. I knew I needed a change but somehow let my own personal fears keep me there longer than I should. Clearly the best professional decision I ever made was going to work for Jamie Dimon — both the first and the second time.
What do you think is the most significant barrier to female leadership?
I'm not sure that the barriers to female leadership are vastly different from the barriers to male leadership. The biggest barriers are the personal trade-offs you are willing to make and those apply just as much to men as they do to women. You can't get to positions of leadership without personal sacrifice. Maybe this is more intense for women because of family but in this day and age men are equally impacted by tough decision about time at work versus time with their family.
What woman inspires you and why?
Hillary Clinton. She works incredibly hard for what she believes in and has a killer combination of energy and intellect. She does not let obstacles stand in her way. She has redefined herself and overcome challenges in ways that would break most others. I admire her extraordinary fortitude and perseverance.
What will be the biggest challenge for the generation of women behind you?
With more leadership opportunities available to women, the next generation of women is arguably going to have more women in leadership positions than ever before. More big opportunities often equal more big trade-offs. More women starting out in their careers are going to have to make personal and professional decisions that are not always easy particularly since the trade-offs become more difficult as you grow in your career.
Vice Chairman, BlackRock
What is the best and worst decision you've ever made?
The best decision I've made professionally was to leave a stable and promising career to found BlackRock with several of my partners. We took a risk to believe in each other, to trust our instincts on the growth of the capital markets and the need for risk management, and to continually evolve the firm to better help our clients solve their investment challenges. The worst decision may be yet to come, but there are days when you can't please everyone, and the compromises I've made always feel like the worst decision in the moment.
What was your dream job as a kid and why?
I didn't really have a dream job. I liked working, I liked learning new things and being challenged, and I liked making money. I had no idea what I wanted to be when I grew up, even after I grew up!
What do you think is the most significant barrier to female leadership?
The most significant barrier is unrealistic expectations — those that we have of ourselves and those that others have of us. Women and men often have different leadership strengths and styles, and that needs to be okay. Advancement should not depend on being a "mini-me," and the test of good leadership should be capability, not conformity. The message I would like to send women is to set their expectations high, be confident in their choices, ask for what they want, and find champions who will support their ambitions.
What woman inspires you and why?
I work with so many talented, amazing women from a rich variety of backgrounds. They are always a source of inspiration. My greatest inspiration, though, comes from my family, from four generations of women (and men) who continually inspire through their accomplishments, their grace, their fortitude, their hopes and their dreams.
What will be the biggest challenge for the generation of women behind you?
Globalization will require leaders, both men and women, to be adept at viewing the world through different cultural lenses and to adapt their business strategy and behavior to best lead global teams and meet client needs. Finding ways to navigate the demands of a global business and the constantly changing political and economic landscape will be an ongoing challenge for all of us. Women may face an even greater challenge to the extent that some of the business culture and norms encountered are less accustomed to or accepting of women leaders.
Chairman Harpo and OWN
What is the best and worst decision you've ever made?
Every right decision I've made has come from my gut. And every wrong decision I've ever made was a result of me not listening to the greater voice of myself. Feelings are really your GPS system for life. When you're supposed to do something or not supposed to do something, your emotional guidance system lets you know. The trick is to learn to check your ego at the door and start checking your gut instead.
I was always happy doing my talk show, but that happiness reached a depth of fulfillment of joy that I really can't describe or measure when I stopped just being on TV and looking at TV as a job and decided to use television — to use it and not have it use me, to use it as a platform to serve my viewers. That alone changed the trajectory of my success.
What was your dream job as a kid and why?
If I wasn't doing my show, I've often said that I would be a fourth-grade teacher because of Mrs. Duncan, who was my fourth-grade teacher. She inspired me to learn and created a sense of self-esteem for me.
What do you think is the most significant barrier to female leadership?
Don't be afraid. Believe in yourself. All you have to know is who you are. There is no such thing as failure. What other people label or might try to call failure, I have learned is just God's way of pointing you in new direction. You may take several paths that end up on what might be a dead end for you if you haven't found your calling within yourself yet.
Your calling isn't something that somebody can tell you about. It's what you feel. It is apart of your life force. It is the thing that gives you juice. The thing that you're supposed to do and nobody can tell you what that is. You know inside you.
What woman inspires you and why?
A couple of years ago, I interviewed Monica George, and I have never forgotten her irrepressible spirit and unflinching determination to live life to the absolute fullest.
Imagine going into the hospital to have a baby. You have the healthy baby and you expect to be coming home with this tiny little bundle of joy with little arms and legs and instead you go home without your arms and legs — the arms that were going to hold this child and legs that were going to walk with her in the park because of flesh-eating bacteria you acquired at the hospital. Monica had 37 operations in two months, but she is now back home with her girls, home without a trace of self pity, home with a smile on her face and a peace in her heart.
And when I first talked to her [in 2008] she said, "Sure, sometimes it hurts that she is not able to paint Sophie's nails and toenails and do the things that mothers and daughters do," but she also said, "What good are you to your children if you are miserable?"
What will be the biggest challenge for the generation of women behind you?
We are all here with hope that in our generation, as in others before — despite our difficulties and despite our mistakes, despite hostile resistance and sometimes cruel opposition — that the best of the American character, the highest of American ideals, and the brightest of American dreams might be realized. The challenge is to carry on that legacy.
Senior VP, Google
What is the best and worst decision you've ever made?
Even though it was a start-up with fewer than 20 people, and I was pregnant with my first child, the best decision I've ever made was to join Google in 1999. Worst decision? Deciding to get a puppy and a bunny right when the baby came.
What was your dream job as a kid and why?
We have to remember that when I was a kid, the Internet didn't exist yet. So my dream job was to be either a photojournalist, because I enjoy creating new images that tell a story, or a biochemist working on a drug for cancer because I wanted to help people. Now, today I can create a different kind of art by building new services that help people across the globe. The great thing about the Internet is you can launch a product, and within just a few hours, people will tell you what they think about it.
What do you think is the most significant barrier to female leadership?
Many women assume they can't be good mothers and have challenging careers at the same time, so they might give up trying to do both as they get to a crucial point in their career. Although it can be hard at times, it's important for women to recognize the benefits of working outside the home. Under the right circumstances, it can be great for the children and for the family overall. It's important for me to show my children the richness of life and be a role model. I find that my organizational and management skills are tested more at home than at work!
What woman inspires you and why?
Marie Curie. She was the first woman to win a Nobel Prize, and the only woman to ever win a Nobel prize in two different fields: Physics and Chemistry. Her scientific discoveries have had profound implications for many people. She was hard-working and committed to her research throughout her life and was also a successful mother of two daughters, one of whom won a Nobel prize.
What will be the biggest challenge for the generation of women behind you?
Our lives continue to accelerate as everyone is online and connected all the time. It will be a challenge for the next generation to make sure to find time to enjoy some of the old fashioned activities like time with nature, friends and family. I want to remind young women and their families to make time for real vacations, far away from digital devices.
President, NBC Universal Women and Lifestyle Entertainment
What is the best and worst decision you've ever made?
The best business decision I made was a variation on the "big fish, small pond." At various point along the way of my career path, I've chosen the bigger purview at the smaller venue. Producer of a short film rather than production assistant on a huge feature; President of TRIO as opposed to a smaller programming job at a bigger network. It's not about the title — it's about learning a business from top to bottom and being responsible for every decision that goes into the framework building of a smaller asset or product, and then translating that real experience to a broader scope in the next job.
I don't have a single business decision that has been so bad that it ever gutted a successful p&l or even mortally embarrassed anyone. All that tells me is that I haven't taken a big enough swing at something.
What was your dream job as a kid and why?
To be a supermarket cashier, a bank teller, or a toll taker. I loved counting money and making change. I still do.
What do you think is the most significant barrier to female leadership?
Affordable, universally available, quality child care.
What woman inspires you and why?
Anyone who commits her or his entire professional life to a cause-related, not-for-profit business endeavor.
What will be the biggest challenge for the generation of women behind you?
While making incremental inroads towards the existing "glass ceiling" in corporate America, the next generation of professional women have missed out on billions of dollars of wealth creation and business clout by not entering into the digital business realm. Whether it's the engineering culture, the start-up culture, or any number of social, cultural, and business factors, professional women have sat on the sidelines, by and large, as the "digital revolution" becomes less a revolution and more the backbone of tomorrow's Fortune 500.
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