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

Catalyst for Women 
Monday, 2 April 2001

Systemic Initiatives to Advance Women Recognized by Catalyst and North America's Top Companies

NEW YORK, APRIL 2, 2001— 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. 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, or to contact Catalyst for Women , see their website at: www.catalystwomen.org

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