<ul><li><keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword> has accepted 21 out of the 33 recommendations submitted by a <keyword id="6358156" type="General" weightage="20" keywordseo="central-bank" source="Orion">central bank</keyword> working group on ownership and corporate structure for private sector banks.</li><li>Among other recommendations, the cap on promoters holding in the long run of 15 years to be raised to 26% from 15%.</li><li>Small finance banks to now list within eight years of commencement of operations.</li></ul>IndusInd Bank may benefit from the RBI’s latest change in ownership norms as promoter Hinduja Group might finally be able to raise its shareholding in the bank. This comes after the Reserve Bank of India (RBI) brought new guidelines on the ownership and corporate structure norms for private sector banks. The central bank has accepted 21 out of the 33 recommendations submitted by a central bank working group. Among other changes, it has raised the cap on promoters’ stake from current 15% to 26% of the paid-up voting equity share capital of the bank. “The move will definitely allow promoters to raise stake in the bank to 26% from 15% at present, which is a positive. The only question is will they really increase stake, because the stock has corrected too much in the last few years and I am not very sure about Hinduja’s financial status right now,” said Nitin Aggarwal, research analyst at Motilal Oswal. <div type="image" title="indusind bank" height="900" width="1200" msid="87934004" hostid="261"></div> Further, the RBI may introduce a reporting mechanism for pledging of shares by promoters of private sector banks. Adding to it, RBI may create a monitoring mechanism to ensure that control of promoting entity/major shareholder of the bank does not fall in the hands of persons who are not found to be fit and proper. Here are some important changes accepted by RBI from recommendations made by internal working group: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Changes in ownership and corporate structure for Indian private sector banks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cap on promoter holding increased to 26% from current 15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-promoter shareholding will be capped at 10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Natural persons and non-financial institutions/entities shareholding capped at 15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Small finance banks to now list within eight years of commencement of operations </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Universal banks will list within six years of operations </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RBI to introduce a reporting mechanism for pledging of shares by promoters of private sector banks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net worth required to set up a new universal bank increased to ₹1000 crore from present ₹500 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net worth required to set up a new small finance bank increased to ₹300 crore from present ₹200 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tega-industries-ipo-to-open-next-week-from-december-1-to-december-3/articleshow/87930500.cms">Tega Industries’ IPO to open next week along with Star Health and Allied Insurance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-nearly-7-billion-in-the-last-two-months-and-over-12-billion-since-april-this-year/articleshow/87927351.cms">Foreign investors have pulled out nearly $7 billion in the last two months, and over $12 billion since April this year</a>

IndusInd Bank promoter Hinduja Group may raise stake in bank to 26% after RBI’s latest change in private bank norms

The country's largest carmaker <keyword id="44883" type="General" weightage="20" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> India (<keyword id="6392170" type="General" weightage="20" keywordseo="MSI" source="Orion">MSI</keyword>) is currently analysing customer feedback to ascertain if the <keyword id="7168801" type="General" weightage="20" keywordseo="jimny" source="Orion">Jimny</keyword> brand could be introduced in India as part of its overall plan to strengthen the SUV portfolio, as per a senior company official. The auto major currently manufactures three-door Jimny at its Gurugram plant and exports to Middle East and African markets. The model, though compact in size, is well known for its off-road prowess. Jimny has been in the global market for over 50 years. "It is a segment worth looking into, that is the reason why we exhibited it in the <keyword id="73154" type="General" weightage="20" keywordseo="Auto-Expo" source="Orion">Auto Expo</keyword> 2020. We have collected some very good feedback from the customers. We are studying this feedback and we will definitely see if we can introduce the product here," MSI Senior Executive Director (Sales and Marketing) <keyword id="169965" type="General" weightage="20" keywordseo="Shashank-Srivastava" source="Orion">Shashank Srivastava</keyword> told PTI in an interaction. This lifestyle SUV segment is small but there is a class of customers who really want that kind of a vehicle, he noted. "The volumes are less but such vehicles lift the image of an OEM. At the same time, it also helps support many customer aspirations," Srivastva said. He noted that various aspects, from pricing to component supply etc, need to be evaluated for launching any kind of new product in a market. "Due to COVID, there has been some delay regarding new product introductions. But now we are all set for new launches. We are looking at all segments where we think there are opportunities while strengthening our existing strong points," Srivastva stated. MSI is looking to consolidate its position in the mid-SUV segment where its market share remains low as compared to the rivals, he noted. "In the SUV segment our market share is around 13-14 per cent. If we go into the details, in the entry SUV segment, Vitara Brezza is the number one selling vehicle despite new launches. "But, if we look at the mid-SUV segment, which currently accounts for around 18 per cent of the entire PV segment, our market share is very low. We have <keyword id="2458725" type="General" weightage="20" keywordseo="s-cross" source="Orion">S-Cross</keyword> in that space which is not giving enough volume. So clearly we have a low market share in a growing segment," Srivastva said. The company is therefore looking at the mid-SUV segment very closely, he added. "We need to strengthen our product portfolio in this particular segment. We are looking at those places where we have weakness in our product range, bigger SUV space is one of those areas," Srivastva noted. As per SIAM data, utility vehicle sales in the April-November period of the current fiscal stood at 8,70,894 units, up 57 per cent from 5,55,746 units in the same period of the previous fiscal. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tega-industries-listing-tomorrow-gmp-at-300-indicates-strong-listing/articleshow/88230707.cms">Tega Industries’ listing tomorrow, GMP at ₹300 indicates strong listing</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/narendra-modis-twitter-account-hacked-with-bitcoin-post/articleshow/88235740.cms">Narendra Modi's Twitter account hacked with Bitcoin post — 'India has officially adopted bitcoin as legal tender'</a>

Analysing customer feedback if Jimny brand can be introduced in India, says Maruti Suzuki

<ul><li>The acquisition will allow <keyword id="1763236" type="General" weightage="20" keywordseo="cred" source="Orion">CRED</keyword> to enter the enterprise spending space.</li><li>Professional expense management was a natural proposition for CRED, says CEO <keyword id="192201" type="General" weightage="20" keywordseo="kunal-shah" source="Orion">Kunal Shah</keyword>.</li><li><keyword id="2738808" type="General" weightage="20" keywordseo="happay" source="Orion">Happay</keyword> manages work-related expenses for over 1 million users globally with approximately $1 billion in annual spends.</li></ul>Kunal Shah-led credit cards payment company CRED will be acquiring corporate expense company Happay for a cash and stock deal worth $180 million. The acquisition will allow CRED to enter the enterprise spending space. “While Happay will operate as a separate entity, the team will work closely with CRED leadership to leverage its ecosystem, build distribution, expand the product offering and drive scale,” CRED said in a press note. Shah, in the media statement, added that CRED has been able to grow rapidly in the last three years by solving the pain of credit card management. He added that now, professional expense management was a natural proposition for the company. Founded in 2012 by Varun Rathi and Anshul Rai, Happay is a business expense, payments and travel management platform serving over 6,000 businesses. It manages work-related expenses for over 1 million users globally with approximately $1 billion in annual spends. The company creates 3 million expense reports annually and counts TATA Grow, PwC, Maruti, OYO, Byjus and hundreds of larger enterprises as its customers. “Happay software stack and in-house payment engine, along with its ease of use, will complement the card management experience that CRED members enjoy for their personal expenses. It is the only unified platform that automates the spend management workflow, a trend that is set to explode in a contactless, paperless world, while ensuring compliance and visibility with an end-to-end audit trail,” the company said. In October 2021, CRED had acquired alcohol delivery startup <keyword id="4335663" type="General" weightage="20" keywordseo="hipbar" source="Orion">HipBar</keyword> in order to foray into the wallet payments business with the prepaid payment instrument licence held by the company. Though the details of the transactions are still unknown, Kunal Shah <a href="https://timesofindia.indiatimes.com/business/india-business/cred-acquires-liquor-delivery-app-hipbar/articleshow/87193580.cms">reportedly</a> joined as the director of Hipbar post this acquisition. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/tega-industries-ipo-opens-today-and-gmp-at-310/articleshow/88017369.cms">Tega Industries’ ₹600 crore IPO opens today; GMP at ₹310</a> <a href="https://www.businessinsider.in/science/news/high-speed-space-junk-risk-prompts-nasa-to-abruptly-delay-spacewalk-on-the-international-space-station/articleshow/88018185.cms">High-speed space junk risk prompts NASA to abruptly delay spacewalk on the International Space Station</a> <a href="https://www.businessinsider.in/science/health/news/pfizers-top-scientist-mikael-dolsten-tells-us-the-2-factors-that-will-determine-if-omicron-is-a-true-threat-and-shares-pfizers-worst-case-scenario-plan/articleshow/88017388.cms">Pfizer's top scientist, Mikael Dolsten, tells us the 2 factors that will determine if Omicron is a true threat and shares Pfizer's worst-case-scenario plan</a>

Kunal Shah’s CRED has spent $180 million to acquire Happay, a corporate expense manager for Byju’s, OYO and more

<ul><li>Today is the second day to subscribe to footwear retailer Metro Brands, which will close its IPO on December 14.</li><li>The Rakesh Jhunjhunwala-backed company is looking to raise ₹1,367 crore, which consists of a fresh issue of ₹295 crore and an offer for sale of 2.14 crore shares by promoters.</li><li>Shares of the company are demanding a premium of ₹25 in the grey market while the price band is at ₹485 to ₹500.</li></ul>Today, December 13, is the second day to subscribe to marquee investor Rakesh Jhunjhunwala-backed Metro Brands, which is one of the largest Indian footwear specialty retailers in India. The initial public offering (IPO) has been subscribed just 27% on the first day of the bidding process. Meanwhile, the grey market premium of the company’s shares has been falling since the last couple of days from ₹80 to now at ₹25 per share. The company was performing well <a href="https://www.businessinsider.in/business/corporates/news/metro-brands-that-is-open-for-ipo-is-aggressively-planning-on-opening-new-stores-despite-covid-19s-impact-on-its-profits/articleshow/88204220.cms">until COVID-19 </a>hit the entire footwear retailing segment because of the pandemic led restrictions across the country. Its profitability slipped in FY21 because of the pandemic. However, most analysts suggest subscribing to the issue because of the growth opportunities in the footwear segment along with the company’s strong financial track record. <div type="image" title="metro cagr" height="900" width="1200" msid="88253021" hostid="261"></div> <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDBI Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BP Wealth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr></tbody><tbody></tbody></table> Analysts at Hem Securities recommend subscribing to the issue because of the experienced management team at Metro Brands and its strong track record of growth, profitability and financial discipline. Metro Brands operate 586 stores across 134 cities spread across 29 states and union territories in India. Some of Metro’s brands include Mochi, Walkway, Davinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. Categories and players in India’s footwear industry <div type="image" title="ventura peer pyramid" height="900" width="1200" msid="88253050" hostid="261"></div> “Due to [the] pandemic, the industry has opened up much more growth opportunities like transition from large unorganised segments to organised players, many acquisition prospects, e-commerce expansion etc. We expect Metro Brands to continue the growth momentum, given above set-up in addition to tying up with third party brands like FitFlops. We recommend “Subscribe for long term,” said analysts at Nirmal Bang Securities. A report by Choice Broking firm says that Metro Brands is one of the largest footwear retailers with around 3-4% market share in the organised market space. “It has reported strong financial performance with robust cash flow generation. The company is [sic] consistently paying dividend [sic] since FY2000. Thus considering the above observations, we assign a “Subscribe for long Term” rating for the issue,” said the report. <div type="image" title="metro ope marging" height="900" width="1200" msid="88253088" hostid="261"></div> Analysts at Angel One believe that the company is demanding an expensive valuation. “The company’s historical net profit growth is low compared to its peer Relaxo Footwears. However, Metro Brands has asset light business, strong brands and wide range of products but we believe that these positives are captured in the valuations commanded by the company. Thus, we have a NEUTRAL rating on the issue,” said the brokerage firm. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-tega-industries-list-at-753-while-the-shares-were-allotted-at-453-per-share/articleshow/88249181.cms">Tega Industries meets its GMP of ₹300 and lists at 66% premium</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/ussd-mobile-banking-charges-trai-vs-airtel-vodafone-idea/articleshow/88249773.cms">TRAI’s push to make mobile banking services via USSD free faces stiff opposition from Airtel, Vodafone Idea</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/zomato-backed-grofers-rebrands-to-blinkit-as-focus-shifts-to-10-minutes-delivery/articleshow/88251384.cms">Grofers puts on a new name, Blinkit, to show how the focus of its business is changing</a>

The grey market is losing interest in Metro Brands’ IPO, but the analysts are still gung ho ⁠— here’s what the data have to say

RateGain, Shriram, MapmyIndia and more — Check out the important dates of these upcoming IPOs and their grey market premiums

<ul class="summary-list"><li>Outgoing <keyword id="12416504" type="UNKNOWN" weightage="60" keywordseo="meta" source="Orion">Meta</keyword> COO <keyword id="11908739" type="UNKNOWN" weightage="60" keywordseo="sheryl-sandberg" source="Orion">Sheryl Sandberg</keyword> was a diversity pioneer, but some say she wasn't inclusive enough.</li><li>Specifically, many Black women believed her bestseller, "Lean In," didn't include their voices. </li></ul>If you walked past a bookstore, boarded a plane, or walked through a park in 2013, you might have seen someone clutching a copy of "<a href="https://www.amazon.com/Lean-Women-Work-Will-Lead/dp/0385349947">Lean In</a>," with <a href="https://www.businessinsider.com/sheryl-sandberg-on-grief-resilience-coronavirus-how-to-persevere">Sheryl Sandberg's</a> smiling face staring back at you. For many, the book by the exiting chief operating officer of Meta, the parent of <keyword id="11892960" type="UNKNOWN" weightage="60" keywordseo="facebook" source="Orion">Facebook</keyword>, went from must-read to dust collector. Some female executives have leaned away from its lessons that, nearly a decade later, feel incomplete, particularly for Black women. The assessment of Sandberg's legacy is still <a href="https://www.bloomberg.com/news/articles/2022-06-07/sheryl-sandberg-s-legacy-is-an-internet-of-targeted-automated-ads#xj4y7vzkg">unfolding</a> following her <a href="https://www.businessinsider.com/meta-facebook-coo-sheryl-sandberg-stepping-down-2022-6">announcement</a> this month that she's giving up her executive role at Meta but will remain on the board. Yet several lessons have already emerged on how executives, both women and men, can help boost boardroom representation in the tech world and beyond, diversity experts told Insider. The to-do list, experts say, is clear: Make a concerted effort to be inclusive when you're trying to solve problems; use your platform to elevate the voices of marginalized groups; and intervene when you see bias unfolding. "Leaders in tech and corporate America — they have a lot of power," said <a href="https://www.mindaharts.com/">Minda Harts</a>, a diversity consultant and author of "<a href="https://www.amazon.com/Memo-Women-Color-Secure-Table-ebook/dp/B07L2WRVSW">The Memo</a>," which is regarded by many as the "Lean In" for women of color. "I hope that leaders will ask, 'What are the issues that I need to help drive?'" <h2>Lesson 1: Be inclusive from the start </h2>Sandberg wrote from her own perspective, and there's nothing wrong with that, Harts said. But Harts believes if you are a leader today, you need to seek insight from people who don't share the same background as you."Sometimes leaders, though they are well-intentioned, talk about certain things, and don't think about the impact that it has on other groups that are not part of that conversation," Harts said. "If we're keeping equity in the equation at all times, then nobody's left behind."<div type="image" title="Minda Harts" height="1080" width="1440" msid="92160970" hostid="261"></div><a href="https://www.linkedin.com/in/tegaedwin/">Tega Edwin</a>, a career coach and the founder of <a href="https://hercareerdoctor.com/">Her Career Doctor</a>, a leadership-development consultancy, said Sandberg contributed by highlighting how women sometimes allow their own limiting beliefs to stifle their career growth. However, Edwin said, Sandberg neglected to speak to the larger societal forces that create that negative self-talk."We live in a society that beats down women. Women are constantly being told they are less than. We internalize those messages and then get in our own way," Edwin said. Without confronting that internalized misogyny, women can unconsciously minimize their own value and sabotage opportunities for growth, she said.Sandberg called for women to take charge of their careers and claim a seat at the proverbial executive table. But doing so can be detrimental for Black women in the workplace, said <a href="https://www.linkedin.com/in/chantelgeorge/">Chantel George</a>, a workplace-diversity expert and founder of <a href="https://sistasinsales.com/">Sistas In Sales</a>, a networking community for women of color. "Lean In," however well-meaning, overlooks the racism and gender bias that Black women often face, she said."When we lean in, we are called aggressive and pushy. We get relegated to 'angry Black woman' status. We're not praised or applauded for being brave. Sandberg's advice comes from a place of privilege that most Black women do not have," George said.<a href="https://www.linkedin.com/in/cheriecaldwell/">Cherie Caldwell</a> — the head of diversity, equity, and inclusion, or <keyword id="11893567" type="UNKNOWN" weightage="60" keywordseo="dei" source="Orion">DEI</keyword>, at <a href="https://salesloft.com/company/company-news/meet-cherie-caldwell/">Salesloft</a>, a software company — said that while Sandberg might not have hit all the right marks, she started a conversation that empowered some women. "It opened up a plethora of DEI jobs and employee-resource groups within organizations. There are more women Fortune 500 CEOs now than ever before. There is still work to be done, but she certainly had a role to play in moving the conversation forward," Caldwell said.Sandberg has <a href="https://www.youtube.com/watch?v=pTPiEYKSPiM">addressed</a> the criticism of "Lean In." "I don't think I did a good enough of job bringing out stories of women of different backgrounds," she said in a 2020 interview with journalist Tamron Hall. <h2>Lesson 2: Use your platform </h2>Though "Lean In" faced criticism for not being inclusive enough, Sandberg's more recent work put greater focus on women of color. That's an important example of a powerful woman deploying her leverage to try and help others, experts said. Sandberg's shift came alongside broader conversations in the US about the barriers people of color, especially women, can face. In 2015, Sandberg's LeanIn.org began working with the consulting firm McKinsey &amp; Company to draw <a href="https://leanin.org/research/state-of-black-women-in-corporate-america">attention</a> to the workplace inequity women of color, specifically Black women, face. The nonprofit offers resources for companies on how to <a href="https://leanin.org/">fight gender and racial bias</a> and encourages women from all backgrounds to join informal networking and peer-support groups. <div type="image" title="Tega Edwin, founder of career consultancy Her Career Doctor, smiles in a headshot." height="1800" width="2400" msid="92160972" hostid="261"></div>Sandberg has also become a more outspoken advocate supporting women of color. <a href="https://www.businessinsider.com/sheryl-sandberg-unconscious-bias-she-session-corporate-diversity-2021-3">Speaking with Insider</a> in March 2021, Sandberg underscored the importance of recognizing unconscious bias and creating allyship. "It's really about recognizing that we all need to do better," Sandberg said. But the changes at Meta have been slow, critics have argued. In 2013, the company had zero Black executives, according to <a href="https://www.usatoday.com/story/tech/2020/07/15/facebook-diversity-african-american-black-hispanic-latino-employees/5430124002/">USA Today</a>. By 2018, 3% of all executives were Black. Two years later, in 2020, that number had edged up to 3.4%. And in 2021, it rose to 4.7%, according to Meta's most recent <a href="https://about.fb.com/news/2021/07/facebook-diversity-report-2021/">diversity report</a>. "That kind of worries me," Harts, the diversity consultant and author, said of Meta's progress in boosting its ranks of Black execs.A Meta spokeswoman said that the number of people of color at the director level and above, which is one step below executive level, has steadily increased over the years. "We are proud that we've made steady progress to drive representation not just in <keyword id="11893566" type="UNKNOWN" weightage="60" keywordseo="leadership" source="Orion">leadership</keyword> roles but throughout the rest of the organization," she said. <h2>Lesson 3: Be brave and take action</h2>To make change within your organization, people need to get comfortable intervening and interrupting the status quo, said <a href="https://tarajayefrank.com/">Tara Jaye Frank</a>, a diversity consultant and the author of "<a href="https://www.amazon.com/Waymakers-Clearing-Workplace-Competence-Confidence/dp/1637551800">The Waymakers</a>." Leaders can speak up, for example, if a succession plan doesn't include Black or Hispanic candidates, she said. Mentors and managers can and should also advocate for their colleagues from underrepresented backgrounds, Frank added. "Intervention is really critical to unlocking opportunity. And to me, that's not about being nice," Frank said. "It's knowing, when are the moments that matter? And how are you going to insert yourself in those moments to use your voice on behalf of someone else's promise and potential?"Advocating for others, especially underrepresented groups, isn't just the responsibility of women or women of color, experts say. Edwin said achieving workplace equality won't be possible without the help of men. "Corporate America is still very patriarchal — men listen to men," she said. "I don't see significant changes happening until men start speaking up on behalf of women."

Sheryl Sandberg's complicated legacy holds key lessons for leaders on what they can do to boost diversity at the top

<ul class="summary-list"><li><keyword id="1031322" type="PERSON" weightage="60" keywordseo="Rita-Ora">Rita Ora</keyword> is a 29-year-old singer whose family is from Kosovo.</li><li>Though Ora is white, it seems that many people incorrectly assume she's Black or mixed-race.</li><li>A tweet calling attention to her parentage and accusing Ora of "<keyword id="9541495" type="UNKNOWN" weightage="60" keywordseo="blackfishing">blackfishing</keyword>" racked up nearly 100,000 likes and 20,000 retweets on Sunday.</li><li>Ora has worn cornrows and laid edges and has apparently drawn plenty of fashion inspiration from Black culture.</li><li>People have accused Ora of intentionally encouraging a racially ambiguous image.</li></ul>Rita Ora has come under scrutiny after a semi-viral tweet called attention to her <a href="https://www.instagram.com/p/BsvKEKHHkeB/">white parentage</a>.On Sunday, one Twitter user accused the 29-year-old British singer of "blackfishing," attaching a photo of Ora with her parents and images of her wearing historically Black hairstyles."Finding out rita ora isn't black at all and both of her parents are white albanians is so trippy. the girls BEEN blackfishing," said the tweet, which has racked up nearly 100,000 likes and more than 20,000 retweets."Like the girl isn't black in the slightest this is kinda freaking me out," the Twitter user continued, adding that white women "really slip into black personas so easily."Ora's <a href="https://www.stylist.co.uk/people/rita-ora-stylist-magazine-cover-story-phoenix-album/238386">family is from Kosovo</a>, a <a href="https://www.nytimes.com/2018/02/15/world/europe/kosovo-independence-anniversary.html">self-declared independent country</a> in the Balkan Peninsula whose population consists mainly of Albanian and Serbian people.In 2016, <a href="https://www.youtube.com/watch?v=U_FRKzJI3jk">Wendy Williams told Ora</a>, "I thought you were half-Black and half-white, or something like that."Ora replied: "Everybody usually does. I might as well be. But no, I'm Albanian."Despite her white European heritage, Ora has repeatedly worn her hair in <a href="https://www.instagram.com/p/2r1ryYRs-U/">box braids</a>, <a href="https://www.instagram.com/p/m6xvJWxsw1/">cornrows</a>, and <a href="https://www.instagram.com/p/4SWiA5xs5H/">an afro</a>. More recently, she <a href="https://www.instagram.com/p/B3cSkPMjyBH/">gelled and styled her baby hairs</a> — all of which is widely considered cultural appropriation.White <keyword id="6412373" type="UNKNOWN" weightage="60" keywordseo="celebrities">celebrities</keyword> like <a href="https://www.teenvogue.com/story/kardashian-jenners-cultural-appropriation-hair">Kylie Jenner</a>, <a href="https://www.insider.com/kim-kardashian-accused-cultural-appropriation-braids-mtv-awards-2018-6">Kim Kardashian West</a>, <a href="https://www.insider.com/jeffree-star-cultural-appropriation-black-hair-vegas-cornrows-blood-lust-2020-2">Jeffree Star</a>, <a href="https://www.insider.com/bhad-bhabie-blackfishing-tarzan-instagram-live-2020-4">Bhad Bhabie</a>, and <a href="https://www.insider.com/keke-palmer-shares-story-about-baby-hair-2020-6">Lucy Hale</a> have been criticized for wearing similar hairstyles.As <a href="https://www.bet.com/news/features/1619/the-history-of-hair-braiding-in-black-america.html">Gina Conteh wrote for BET</a>: "Black hair has been ridiculed, mocked, discriminated against, and policed since the first colonizers arrived on the continent of Africa."When we talk about the cultural appropriation of our braided hairstyles, whether its <a href="https://www.bet.com/news/celebrities/2016/02/22/black-twitter-kim-kardashian-cornrows.html" target="_blank" rel="noopener noreferrer">boxer braids</a> or <a href="https://www.bet.com/style/beauty/2018/01/29/kim-kardashian-bo-derek-braids-cultural-appropriation.html" target="_blank" rel="noopener noreferrer">Bo Derek braids</a>, we are simply pointing out the historical context and ancestral significance that comes with our hairstyles. Black hair isn't a trend as soon as it's on a white head."Paired with her tan skin tone, Ora's stylistic decisions apparently led many fans to think that she is Black or mixed-race.As people on Twitter have realized she's white, Ora has been accused of intentionally cultivating the assumption, <a href="https://www.bbc.com/news/newsbeat-46427180">a phenomenon known online as blackfishing</a>.The British TV writer Camilla Blackett said Ora "was absolutely selling herself as black in the UK for YEARS."Cate Young, a culture critic, wrote that Ora "was absolutely doing Rihanna cosplay for a couple years there."Others accused her label, Jay-Z's Roc Nation, of marketing her as racially ambiguous or even "Rihanna 2.0."Some people defended Ora, arguing that she's naturally "ethnic" or "ambiguous" and that her only source of blame is wearing Black hairstyles.Representatives for Ora did not immediately respond to Insider's request for comment.

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