From the Editor's Desk

These Women Faced the Glass Cliff--and Leveraged Their Experience to Become Successful Entrepreneurs

In 2009, she was offered the CEO role at Merrill Lynch Wealth Management and U.S. Trust and was tasked with turning around the business amid the mass exits of financial advisors as well as ongoing fallout from the subprime mortgage crisis. However, just before her two-year anniversary at the company, when Krawcheck felt confident that the company was gaining market share, she says she was "re-orged out."

Krawcheck is just one of many examples of the glass cliff, a term coined in 2005 by University of Exeter researchers Michelle Ryan and Alexander Haslam to describe the phenomenon where women and people of color are often put in C-suite or leadership positions at a business that is facing hardship, with the expectation that they will be able to turn it all around. If you've never heard of the term before, you haven't been paying attention. 


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