KeyCorp CEO Mooney Discusses Gender and the C-Suite

“I’m going to go to my job this morning, and I’m standing a little taller and I am walking a little prouder because a woman will lead us.”

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Photo courtesy of Cleveland.com

Beth Mooney, the first chief executive of a top 20 U.S. bank, read the text above with great pride during her speech last week at an event hosted by Beta Gamma Sigma. Mooney received the email from a female employee at KeyCorp shortly after she became the Cleveland company's chairman and CEO in May 2011. 

The encouraging letter also underscored the historic importance of Mooney's appointment to lead the large regional banking company. 

"It was a comment like that that made me realize that it was a unique opportunity for our company to have a woman CEO, but it was unique for women in general,” she told attendees in a speech built around diversity and inclusion. “And it is important to me that I approach this with a sense of obligation to do this well. There is an extra responsibility in being the first and I want you to know that I actually feel that sense of responsibility every day.”

The speech seemed more timely given the recent news that Yahoo! had hired Marissa Mayer, a former Google executive as its CEO. Mayer then topped the news by announcing on Twitter that she is pregnant.

Mooney made it clear that women are poised to make more breakthroughs in the corporate world as businesses realize their success or failure hinges on the strength of the individual CEO, regardless of whether that leader is a man or a woman. “Gender doesn’t matter when it comes to delivering results,” she said.

“I do feel the leadership should be carried out by people who are the right people for the task at hand,” Mooney said. “As we move forward I have little doubt that more and more of them will be female and that they will be diverse. And that will be better because it will reflect the broader population. For a while, at least, I think a diverse leader will be something of an event. But the day will come, and it will be a great day, when it isn’t.”

Mooney also shared advice to attendees (more than 90 in person and 600 or so via a Webcast) about leadership. She touted the importance of having a “pit crew,” or a group of people with diverse backgrounds to share knowledge. “Always practice continuous learning, particularly with those who can help you see yourself more clearly and will … challenge you to grow,” she said.

“I have become a role model, and I take that obligation very seriously,” Mooney added. “Every day … people are watching what I do and listening to what I say. As leaders, we should never underestimate that how we conduct ourselves, how we extend ourselves and how we reward people matters mightily.”

In conclusion, Mooney gave her philosophy for leadership, boiling it down into five simple principles:

• Always be your best. I believe you’ll be able to look back with pride instead of regret.
• Be of service. Your community needs your gifts just as much as your career does.
• Be grateful. Not being grateful will turn us bitter and old before our time. On the other hand, I believe gratitude gives us dignity and grace.
• Remember to thank those who helped you along the way. Don’t wait to let them know how much they’ve meant to you.
• As a leader, be conscious of your legacy. To do this, start with the end in mind and craft the journey to that end.

Beta Gamma Sigma is planning to post video of Mooney’s presentation. It is well worth allocating the time to watch. She also answered several questions about the banking industry, and a write up of her responses can be found here.