We all know the North Shore, like its neighbor Chicago, is full of exceptional women.
But how many of those women rise to lead companies? And how do those few CEOs manage to rise through the ranks? According to Fortune’s 2011 rankings, there are only 12 women CEOs of Fortune 500 companies—a measly 2.4 percent. While many women have broken the glass ceiling in recent years, the progress can seem slow.
So, we sat down with five local CEOs to learn their secrets, tips and ideas. Much of their advice was variations on a theme: Find work that you love. And we also got a glimpse of their daily lives—from how they juggle parenting and work to how they spend their money, and what they do when they just need to get away from it all.
Joyce Romanoff, Maya Romanoff Corporation
Northbrook
Her success story …
Years ago, when Joyce met her husband, Maya Romanoff, an internationally-recognized artist and textile innovator, a whole new world opened up to her. “A world of entrepreneurship, as well as art and beauty,” she recalls. “I was always interested in art and design, but never thought I would make it my career.” In her roles as Vice President of Sales & Marketing and President, a position she took over in 2004, Joyce has used her business background to take Maya’s creative spirit and make it increasingly profitable. During her tenure, the company became an industry leader for luxury surfacing materials for architects and designers. Her accomplishments include relocating the company to a state-of-the-art facility in Skokie, increasing productivity and sales volume by 20 percent, expanding distribution globally and generating sales revenue approaching $20 million.
On taking risks …
“My husband ran the business for many years and was not a big risk-taker,” she says. “He ran the business without any debt. I keep that in mind, but I also want to grow the business.”
Bold move …
Joyce opened two showrooms, one in Chicago and one in New York, within a single year. “Whether I consider it an accomplishment is too soon to tell. I made the decision from my gut.”
Biggest mistake …
Rushing ahead. “Sometimes, in the product development stage, I get excited and want to introduce a new product to designers as soon as possible, before it’s ready. My exuberance has cost us money and caused heartache.”
Keeping it in the family …
Joyce and Maya’s family lives are deeply woven into their business. Four members of their family are in key positions in the company. “I feel blessed that I am able to enjoy my family at work as well as home.”
Works out …
With a personal trainer.
Always willing to spend money on …
“My five fabulous grandchildren. End of story.”
Hates overpaying for …
A flight or hotel. Joyce not only travels globally to generate sales, but also to find new mills and create new products.
Giving back …
Joyce’s husband, Maya, has been battling Parkinson’s for more than 20 years, so the core of Joyce’s philanthropy is the Rehabilitation Institute of Chicago, where Maya has received care and treatment that has improved his quality of life. The company will be sponsoring RIC’s annual art auction fundraiser this year, “ArtFutura: Art in Motion,” in May.
Best part of her job …
“Working together to create a legacy.”
To read more about Joyce and other local creative women, check out our “Creative Women” series here.
