Rep. Maloney and Prominent New Yorkers Gather to Celebrate News that Fearless Girl Will Remain Through February 2018; Honor Artist and State Street Global Advisors for Work on Gender Diversity
NEW YORK-Congresswoman Carolyn B. Maloney (NY-12) was joined today by women leaders from across the city to celebrate news that the already iconic statue has been accepted into the Department of Transportation Art program and will remain in place on Wall Street through February 2018. Earlier this month Rep. Maloney sent letters both to Mayor de Blasio and DOT Commissioner Polly Trottenberg requesting that Fearless Girl be accepted into the program.
The gathered group also honored State Street Global Advisors and artist Kristen Visbal for bringing the statue to New York City and raising awareness about the persistent issue of gender disparity on corporate boards. Rep. Maloney presented both the artist and State Street with a Congressional Extension of Remarks. Lynn Blake, Executive Vice President of State Street Global Advisors, accepted on behalf of State Street.
"Fearless Girl is each one of us," said Congresswoman Carolyn B. Maloney. "This little girl embodies the resiliency that every woman must possess to find success in today's world. Each day a woman in business has to be daring and confident to be accepted as an equal. Fearless Girl was created to draw attention to the lack of female representation on corporate boards, an issue I have been working on for years in Congress with my Gender Diversity in Corporate Leadership Act, which is a step towards achieving gender parity on boards. We must add pressure to get more women on corporate boards, and this statue does that in a bold and creative way."
“We thank Mayor de Blasio, Congresswoman Maloney and the people around the world who have responded so enthusiastically Fearless Girl and what she represents – the power and potential of women in leadership,” said Ron O’Hanley, president and CEO of State Street Global Advisors. “We are thrilled that she can continue to share her positive message and inspire the next generation of women leaders.”
“Fearless Girl has resonated with women around the world,” said artist Kristen Visbal. “SHE is a global call for feminine inclusion: Women Leaders Mean Smart Business!”
Fearless Girl was unveiled to the public on March 7th, 2017, the eve of International Women's Day, March 8, 2017, as part of their broader call to increase the number of women on the corporate boards of companies they invest in on behalf of their clients.
According to a January 2016 Government Accountability Office report that was written at Maloney's direction, women are severely underrepresented on corporate boards, representing just 16 percent of seats in the boardroom even though they make up 47% of the workforce. The study also found that even if the rate of women joining corporate boards were doubled, and they were named to boards at the same rate as men, it would still take at least 40 years (2056) for women to reach parity with at the highest level of corporate governance.
Rep. Maloney was also joined by Congresswoman Nydia Velazquez, Senior Advisor to Mayor de Blasio Andrea Haglegans, Public Advocate Letitia James, Manhattan Borough President Gale A. Brewer, and two representatives from McCann, Senior Copywriter Tali Gumbiner and Senior Art Director Lizzie Wilson.
A longtime advocate for gender parity on corporate boards, Rep. Maloney introduced the Gender Diversity in Corporate Leadership Act in the 114th Congress, and reintroduced it in the current session on March 17th as H.R. 1611. This legislation, modeled on policies in Canada and Australia, would instruct the SEC to recommend strategies for increasing women's representation on corporate boards. The bill also requires companies to report their policies to encourage the nomination of women for board seats as well as the proportion of women on their board and in senior executive leadership.