Tim Armstrong, CEO of Verizon subsidiary Oath, told CNN he’s aiming to appoint women to half of the company’s leadership roles by 2020.
Armstrong said the push stems from data showing a more diverse workforce is linked to “better outcomes, better growth”.
“Having more women leaders is actually an enhancement for the entire corporation,” Armstrong told CNN.
According to Armstrong, Oath already placed women in around 30 per cent of its top jobs. Armstrong acknowledged closing the remaining 20 per cent gap will be difficult, but said it can be achieved through a combination of internal promotion, external hiring, and new job creation.
Owned by Verizon, Oath is home to brands AOL, Yahoo, Tumblr and Huffington Post.
Armstrong’s comments come just after Verizon announced the upcoming departure of its top woman executive: EVP and president of Global Media Marni Walden.
At a Fortune conference last week, Walden said she decided to leave the company after it became clear she would not get the CEO spot she had been working toward.
In the same Fortune interview, Walden indicated she worked with Verizon’s board of directors and executive team to bring more women into the company. Walden said she was “disappointed” the company didn’t make more progress during her tenure, but noted she is “hopeful” Verizon will continue down that path.
“This is something you’ve got to keep working at,” she said. “You have to start at the bottom and the middle of organisation to continue to groom women to be ready. And, bringing men into the conversation is so incredibly important, so that you have sponsorship when the right opportunities come along.”