Moderator:

Dagen McDowell, Host "Your Questions, Your Money", Fox Business

Panelists:

Lynn Elsenhans, Chairman, CEO and President, Sunoco, Inc.

Margery Kraus, President and CEO, APCO Worldwide

Shelly Lazarus, Chairman, Worldwide, Ogilvy & Mather

As part of its commitment to championing women entrepreneurs, Ernst & Young recognized nine women entrepreneurs representing diverse industries from across the US at today's Winning Women luncheon. The annual Ernst & Young Entrepreneurial Winning Women program, founded in 2008, connects a select group of women entrepreneurs with the people, resources and insights they need to become market leaders.

Women launch 55% of all new firm start ups in the US, but tend not to grow these companies to their full potential. “Through the Entrepreneurial Winning Women program, we seek to increase the number of market-leading companies run by women,” said Maria Pinelli, Americas Director, Strategic Growth Markets. “We're committed to using Ernst & Young's vast network and depth of resources to jumpstart the growth and success of these women-founded companies.”

Following the award ceremony, three women CEOs took to the stage to discuss their recent and long-term leadership strategies.

Lynn Elsenhans, Chairman, CEO & President, Sunoco, Inc., said that innovation is crucial – to companies of all sizes. “Even for large companies, if you don't innovate, you are going to die.”

Margery Kraus, President & CEO, APCO Worldwide, said she believes the changes that have stemmed from the recent economic turmoil will be permanent. “I don't think we're going back,” she said. Companies have to protect assets while figuring out how to grow. “If you don't keep thinking ahead, you're never going to be a bigger company.”

Shelly Lazarus, Chairman, Worldwide, Ogilvy & Mather, told the crowd that open and honest communication with all stakeholders is key. “There is no option to do anything less than being honest and building trust,” she said. Lazarus ' number one focus: her staff. “The first mistake is forgetting to communicate with your most important constituents – your employees.”

In conjunction with today's Winning Women luncheon, Ernst & Young released the second of its “Groundbreakers” series at the annual Strategic Growth Forum in Palm Springs, California. The report, Scaling up: why women-owned businesses can recharge the global economy, focused on an overlooked economic growth engine: women-owned businesses.

“We must focus and accelerate our efforts to scale women entrepreneurs into the global economic growth engines that they are. It's not only about gender equity, it's about job creation and growth,” said Beth Brooke, Global Vice Chair of Ernst & Young.

 

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