I see SST created a new expensive high price Executive job
Read below from Yahoo Finance
State Street has promoted Paul Francisco, a workforce development executive at the company, to be its first-ever chief diversity officer.
Francisco previously held the title of managing director of the diversity consulting and sourcing office at State Street (NYSE: STT), a role in which he worked to make the Fortune 500 company an appealing place for people of color and other minorities to work.
He will continue to focus on that goal in the new position, but will now have a more powerful platform from which to do so, said Mike Scannell, senior vice president of corporate citizenship. “By creating this role and this title, we’re trying to put that much greater emphasis on just how important this is to our business,” Scannell said.
In the new role, which became effective Monday, Francisco aims to focus not only on drawing more diverse employees into State Street, but to find mentors for them to help advance their careers at the company. He will also work with and train executives on diversity issues. One of the biggest challenges he sees at State Street, he said, is diversifying the company's executive ranks.
Francisco oversees State Street’s diversity efforts not just in the U.S., but in its offices in Europe and Asia, where it has more than 10,000 employees. “Even the definition of diversity, it’s different” in other countries, he said, adding that age diversity often receives more attention abroad than it does in the U.S. The company will be adding more employees focused on diversity globally.
The Boston University graduate joined State Street in 2011 from his consulting business, Foster & Francisco. He previously worked for Fidelity’s temporary staffing agency, Veritude, and for Bank of America and Gillette. A football star at BU, he played briefly for the Patriots and Cleveland Browns.
Francisco’s promotion comes a week after the Boston-based company drew international attention by placing a statue of a young girl in front of the famed “Wall Street Bull” statue in New York City, part of a new campaign to put pressure on companies whose boards contain few to no women.
Three of the 11 members of State Street's board are women, while two of the 14 executives on its management committee are women.