May 19, 2020

95 Percent Of CEOs In Australia Are Men, But Women CEOs Earn More

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95 Percent Of CEOs In Australia Are Men, But Women CEOs Earn More

There’s been a great push lately to make the workplace more gender equality, both in the ratio of men and women companies employ and the wages the sexes earn. However, a new survey of Australia’s top 200 companies by Qlik shows that 95 percent of CEOs are men.

The findings show an interesting dichotomy to the Australian business sector. More men are CEOs than women, and reach the position about 10 years faster than women (37 was the average age for men, 47 for women). However, women earned on average around $4.1m a year in chief executive roles, while men earned around $2.5m. This could be explained however, by the number of women CEOs in the banking and finance industries, which historically outperforms other industries in terms of salary.

Regarding the education level of CEOs, 96 percent attended university. A majority—52 percent went to an Australian university. This is surprising, as 53 percent of those surveyed were from overseas, with the UK producing the most out of country CEOs for Australia. What isn’t surprising is the choice of study of CEOs—business was the most common degree, with 34 percent of the CEOs who attended university achieving a Bachelors. Seventeen percent of CEOs earned an MBA.

Qlik conducted the study via its ‘Where do CEOs Come From’ app.

“This new app built on Qlik Sense helps to uncover the anatomy of the CEO in Australia, allowing us to find out what the ‘key ingredients’ are to become a ASX 200 CEO,” said Sharryn Millican, Vice President and Regional Director, ANZ at Qlik. “As a female executive myself, it’s surprising to see that little has changed when it comes to the lack of gender diversity in the boardroom and the fact that the average CEO is still likely male and his fifties. However, it also interesting to discover that you don’t necessarily need to attend the top universities around the world and only study Business or Commerce in order to become a CEO.”

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Jun 13, 2021

Seo JungJin: Who is EY’s World Entrepreneur of 2021?

Kate Birch
3 min
From just US$45,000 capital in 2003 to a world-leading biopharma giant with revenues of US$1.69bn today, Seo JungJin is crowned EY World Entrepreneur 2021

Seo JungJin, founder of biopharma firm Celltrion, which most recently developed an antibody treatment for COVID-19, has been named the EY World Entrepreneur of the Year 2021, becoming the first South Korean in the award’s 21-year history.

Regarded as one of the world’s most prestigious business awards program for entrepreneurs, the EY Entrepreneur of the Year celebrates visionary and innovative leaders from across 60 countries who are transforming the world and fostering growth.

JungJin, who is now honoroary chairman of Celltrion Group, was up against a worthy cast of entrepreneurial competitors, taking the crown from among 45 award winners across 38 countries and territories.

Speaking during the virtual event, JungJin described his own interpretation of entrepreneurship as something that brings together “a group of people toward a common vision, embracing challenges as opportunities and committing oneself to contribute to the greater good”.

Why was JungJin crowned King Entrepreneur?

A South Korean native and now 63 years of age, JungJin founded biopharmaceutical firm Celltrion in 2003. In the nearly two decades since its founding, Celltrion has lived up to its goal of advancing health and welfare for all by developing ground-breaking drugs to treat autoimmune disease, various forms of cancer and, most recently, COVID-19.

The company, which JungJin started with just US$45,000 and five of his colleagues, has since growth to more than 2,1000 employees with sales permits in more than 90 countries and revenues exceeding US$1.69bn.

According to the panel, JungJin’s story is a shining example of the power of an unstoppable entrepreneur to change the world with the pandel moved by both his incredible story and his purpose-driven leadership, innovative mindset and entrepreneurial spirit.

Described by the chair of the EY judging panel Rosaleen Blair as “representing everything an unstoppable should be” from taking on the world’s biggest health care challenges to consistently creating long-term value for his company, JungJin’s story is one of incredible tenacity and perseverance that the judging panel felt most represented the entrepreneurial spirit.

“He’s taken breathtaking risks, both personal and professional, to found Celltrion and grow it into one of the world’s leading biopharmaceutical companies,” says Stasia Mitchell, EY Global Entrepreneurship Leader. “His passion for creating affordable, life-saving health care and flair for tackling global problems has led to many treatments that have helped millions of people worldwide and was especially evident this past year through the creation of a COVID-19 antibody treatment.”

How did JungJin get there?

JungJin's entrepreneurial journey started at an early age when he worked as a taxi driver to get himself through Konkuk University in Seoul, South Korea. After studying industrial engineering, he rose through the ranks of Daewoo Motor Co. before losing his job amid the carmaker’s financial troubles following the 1997 Asian economic crisis.

Following this, JungJin started collaborating with colleagues to explore business opportunities in different industries, though none delivered lasting success. The turning point came after he attended a talk hosted by renowned scholars, which inspired him to focus on the biopharmaceutical sector.

And so he founded Celltrion with just US$45,000 of his savings. The launch of Remsima, credited with being the world's first antibody biosimilar, quickly moved Celltrion up the ranks of the country's fairly underdeveloped pharmaceutical sector. Celltrion followed this success with the launch of drugs for breast cancer and lymphoma that today are being used worldwide.

With ambitions to be the world’s first in different areas, Celltrion has pioneered numerous uncharted areas to great success over the past two decades, most recently responding to the global pandemic by successfully developing an antibody treatment for COVID-19 and working to ensure a timely supply of the safe and effective treatment.

“When I first started, my vision was to help patients gain access to safe, effective and affordable medicines and thereby enhance the quality of people’s lives,” explains JungJin. “The success of Celltrion has enabled me to expand on this while finding new ways to fuel my entrepreneurial drive.”


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