Glass Cliff Writ Large

Dubbed the "glass cliff", the tendency for corporations to appoint women as CEOs when they are in grave circumstances. The first example on the national US stage was Carly Fiorina when she became CEO of HP, Anne Mulcahy the turn-around maven of Xerox is another. Now, with financial companies in decline globally, Iceland has appointed two women to bail them out. From the Financial Times:

"...Iceland has just appointed two women executives to rebuild its financial system (“Iceland calls in women bankers to clean up ‘young men’s mess’ ”, October 14). Elín Sigfúsdóttir and Birna Einarsdóttir are the new chief executives of New Landsbanki and New Glitnir respectively, the two new Icelandic banks. Is a new culture emerging within the banking system? Possibly; both women are impressive home-grown talent and I hope they are given full rein and time to exercise their experience."