Ambassador April H. Foley (2006-2009)
Remarks at the "Successful Women – Career and Family in the 21st Century" Conference
Mathias Corvinus Collegium, Budapest
April 23, 2008
Good evening. Thank you, Nora, for inviting me. It’s an honor to be your guest speaker.
This is a great opportunity to discuss issues facing professional women. After my remarks, I look forward to hearing from you...your questions and comments.
I’d like to start by talking about an issue that is near and dear to my heart and also one of my priorities as the U.S. Ambassador to Hungary...women’s empowerment.
After I arrived in Budapest, a headline in The Budapest Sun read, "Ambassador Seeks to Aid Women’s Empowerment." And I have to say, they got that absolutely right!
I am passionate about the advancement of women.
It’s critical for women to have the equal right to progress professionally.
I firmly believe that there are few things in life as exhilarating as professional fulfillment.
Women should not be denied the profound joy of professional achievement.
Women should not be denied the opportunity to advance to the highest levels in their chosen professions, if that’s what they want and they have the talent.
One good way to encourage other women to advance is to share our personal experiences, to help each other understand different possibilities.
My own life has had a number of chapters.
I graduated from Smith College, an all-women’s university. One of the benefits of an all-women’s school is that all the leadership positions go to women. So at Smith, I had lots of early leadership opportunities. After graduating, I traveled to Costa Rica and opened a nightclub, which was a great entrepreneurial experience. It made me realize that I loved business, but it also made me realize how little I knew about business.
So I applied to Harvard University to get a Master’s Degree in Business Administration. My Harvard MBA was the ticket to more high-profile managerial jobs. I also met my future husband at Harvard.
I spent my business career working for some of America’s best run corporations...Pfizer, PepsiCo, and Reader’s Digest.
Before I got married, my husband and I made what I would call a "psychological contract." We agreed that we would be a dual-career family and that we would both contribute money, time, and effort to running the household and caring for our children.
For 14 years, we worked extremely hard together. At PepsiCo, I was promoted a number of times. He did a successful leveraged buy-out and started several other businesses. And we had three beautiful children whom we adored.
In 1990, tragedy struck. My husband was killed suddenly in a plane crash, and life as I knew it ended. I became the sole parent of our three children, aged 12, 10 and 5. After a long leave, I continued to work to support my family, but I soon realized that I needed to be more available to my children.
In 1995, I left Reader’s Digest and the paid workforce for what turned out to be eight years. I spent much more time with my children. And I also became a professional volunteer, taking on leadership roles in countless community and not-for-profit organizations. During this time, I also spent an enormous amount of time helping my aging parents.
When President Bush was running for office in 2000, he asked me to be part of his administration, but I had to refuse because of my family obligations.
Two years later, in 2002, he invited me to have lunch with him at the White House. By this time, sadly, my parents had died, and my children were all away at school. Suddenly, I was free to resume a full-time professional career.
President Bush appointed me to be First Vice President and Vice Chairman of the Export-Import Bank of the U.S., a $60 billion bank. It was a great thrill to be back in the work force, earning a pay check. I was delighted to return to the world of business, particularly international business, and to serve my country at an independent agency of the U.S. Government.
After my term expired in 2005, President Bush asked me if I would consider being an Ambassador, and here I am. I am representing the President of the United States here in Budapest and running an Embassy with over 350 employees. I have never felt more professionally fulfilled. My position capitalizes on all of my prior experiences in leadership, in corporate management, in the international arena and in government. It has been the most unexpected but exhilarating chapter of my professional life.
Now I have set a new challenge. I am partnering with Hungarian men and women leaders, lady ambassadors, and members of the international business community and others, to improve the opportunities for women’s leadership in Hungary.
Last October, Morgan Stanley hosted a Gender Diversity Conference with the American Chamber of Commerce. It included men and women speakers from every major Hungarian political party. And there was an amazing amount of cross-party support for increasing the number of women in Parliament.
At this same conference, we identified practical steps in government and private industry to encourage women to realize their fullest personal potential. It’s really exciting to think about what can be achieved!
To help women in the workplace learn how to rise to top management levels, the State Department has created many public-private partnerships. For example,
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In 2006, we co-sponsored with Fortune magazine a mentoring program that brought promising Hungarian businesswomen to the U.S. to learn from America’s top women executives the skills needed for advancement.
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We provided funding for a summit of European women leaders entitled "Vital Voices: A Global Leadership Initiative for Women and Girls." Two Hungarian women leaders from the NGO community participated with the support of my Embassy.
Together we’ve held dialogues around the country with university students and others interested in helping empower women.
Here are a few messages based on my own personal experiences that I like to offer up to young women starting out:
Number 1: Dream big dreams. And do not give up your dreams. Do not settle for low expectations from the start.
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You must fight the fight.
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You must believe in your dreams.
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You must hold on to your vision.
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You must honor the talents that have been given to you.
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You must give yourself every opportunity to reach your highest aspirations.
If you don’t believe in you, then who will?
Number 2: Manage expectations. If there is an opportunity for advancement at your place of work or in a new job, and you want it and you know you are qualified, let people know.
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Do not be shy.
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Don’t assume that people will automatically assume that you want the job.
In fact, I have found quite the reverse...that management is willing to say,
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She’s only a woman.
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She has a husband and family.
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She doesn’t want to have any more responsibilities than she already has.
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She is content with her lot.
You must fight these limiting preconceptions. You must be prepared to be brave and market your skills. Let your superiors know that you want the job. Let them know in a rational, well-thought out way why you are the best person for the job. Think about what qualifications will make someone highly successful in that job, and then point out how your background and experiences are an excellent fit.
Number 3: Manage your relationships. Like it or not, you are competing in a world where most of the leaders are men. So you must have good working relationships with your fellow men. This means having good informal relationships.
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Have lunch with male colleagues.
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Don’t be afraid to invite men to do things.
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If you make a mistake in a relationship, repair it quickly. Don’t let a mistake create an enemy. In fact it is really important to avoid creating enemies.
Having people feel positive about working with you is critical. There’s an old saying that is worth pondering: "Friends come and go, enemies accumulate."
Number 4: Take personal responsibility for your own financial security. Make financial decisions for yourself responsibly. Save money.
No matter how little money you make, even when you’re just starting out, commit 10 percent to savings. And do not touch your savings. Put it in the bank.
When you get up to $1000, and trust me, you will get there if you are disciplined. Then invest that $1000 into mutual funds.
Make safe conservative long term investments.
Pay attention. Learn. Get the advice you need not from neighbors or friends but from financial professionals.
And as long as you are generating income, never stop saving.
It makes all the difference in the world to feel that you have created a capital base that can provide you with financial independence, security, and a sense of personal well-being.
Number 5: Never miss an opportunity to mentor!
When former U.S. Secretary of State Madeline Albright visited Hungary, she spoke with a group of women parliamentarians and told them, "There is a special place in hell for women who do not help other women." I fully agree.
I encourage all of you to offer yourselves as role models and mentors to your daughters, your friends’ and colleagues’ daughters, and other women in the workplace. Take an active interest in their professional lives. Ask if they are living their dream. Offer your insights and experience, and encourage them when the road gets tough.
One final point: When I was in Germany speaking with the GE Women’s Network, GE Chairman Jeffrey Immelt was there. He was asked “What traits are you looking for in an executive?” He answered that he was looking for decisiveness. He said one of the major stumbling blocks for managers, even very intelligent and talented managers, is that they are afraid to make decisions…they get caught up in the bureaucracy. They delay and ponder. He said, "Good leaders make timely decisions." They don’t need perfect information. They are willing to take risks and sometimes make mistakes in order to keep organizational momentum high and keep people motivated to excel. I think that’s very worth thinking about…decisiveness.
I’d like to go on and on, but I do want to open it up to discussion. I want to hear your ideas.
So let me close by saying that I think we can make a real difference in the lives of young women and each other. So please help other women dream big. Help build their confidence, so they can make those tough decisions and make their dreams come true, whatever they might be.