Graduate Profiles
Elizabeth Proust BA (Hons) 1975
ELIZABETH PROUST REGRETS THAT...MEN STILL DON'T GET IT.
Elizabeth Proust shattered her personal 'glass ceiling' long ago.
Photo: Courtesy of Esanda
As Managing Director of Esanda Finance (a subsidiary of the ANZ), she is one of the most prominent women in Australian business. She earlier achieved a high profile in the community as Secretary of the Department of Premier and Cabinet in Victoria, CEO of the Melbourne City Council, Secretary of the Victorian Attorney-General's Department, Deputy Director-General of the Department of Industry, Technology and Resources, and holder of senior roles in BP.
Elizabeth is Chairman of the Australian Finance Conference, Chairman of the Melbourne Symphony Orchestra, member of the National Breast Cancer Foundation Board of Trustees, a Fellow of the Australian Institute of Company Directors and a Trustee of CEDA. She was awarded a Centenary Medal for service to Australian society in business leadership, and an Australian Financial Review 2003 True Leaders Award. With that experience, believe her when she says bluntly that women are barely holding ground, if not falling behind, in the gender wars as applied to senior leadership positions in Australia's bigger companies.
'What would I tell La Trobe women graduates starting their careers in 2005, 30 years after my own graduation?
'Don't expect a level playing field. In 2004, there are still too few women in senior roles in corporate Australia. I would not have expected this when I graduated, but it's true.
'Men still don't get it - for many of them their career track involves a supportive partner at home, with the ability to focus on their career. Businesswomen in 2004 still spend too much time juggling family and all the other demands of personal life.
'Certainly there are people in positions of power who are mentoring women, driving change, even reshaping the dominant culture - but they're a very small minority.
'I had hoped women would have gone a lot further than this: last year's national census of women in leadership showed females holding fewer than nine per cent of leadership positions in bigger companies...
'So what can we do to achieve fairer results in what is an economic and equity issue, rather than just a gender imbalance? I don't believe quotas will fix the real issues; they might increase numbers without changing attitudes. And I certainly loathe the thought of 'having to behave like a man' to make it - that demeans the individual and also cheats the organisation of a fruitful diversity in senior management.
'You need a mix of skills and attitudes. I've found a sense of humour, determination and hard work have carried me through most of my challenges. I've also been supported by my husband who has done at least 50% of child-rearing and household tasks. Too many women are still working full-time - in both the office and the home. In the workforce, you need good mentors; you also need to take risks with your career: I've never stayed in a place where I felt the culture was not supportive.
'In a practical sense, I'd tell graduates that I believe my career was helped because I've never stayed longer than five years in one place, until my current organisation, where I have been for six years now. My observation is that it is extremely difficult for women to rise through one organisation. Most of the successful women I know have achieved that success through a series of moves - being recognised outside rather than within. (Elizabeth applied for only one job in her career - the first: she was headhunted for all subsequent positions.)
'One of the best things about my role within the ANZ is the opportunity to meet many of the 250 graduates who join us each year. I have 15 graduates in my business this year. They bring inquiring minds, fresh approaches and great energy to our business. If you have a chance to join a corporate graduate program - do. They offer great training and opportunities.'
Elizabeth graduated BA (Hons) at La Trobe in 1975. She did a Law degree at Melbourne, and recently attended the London Business School Senior Executive Program.
'My time at La Trobe was dominated by the crËche! I had transferred from Sydney University when I married, and my daughter, Katrina, was born at the beginning of my third year. So I juggled classes and child care (together with my husband, Brian Lawrence (story opposite), a barrister who was also studying at La Trobe towards his MEc.).
'I've been Managing Director of Esanda for two years. I can see myself doing this for a few more years, then probably changing gears to take on executive coaching, perhaps some directorships, and more time for my current part-time activities, especially the MSO - I can't play a note, but I'm passionate about music - and the Breast Cancer Foundation.'
Elizabeth served two years on the La Trobe University Council in the early 90s, and has made a graduation address.
Her outside interests include theatre, music, reading and travel. Her main destination is usually Europe and it's a rare time that Paris isn't on the agenda. But as her current role sees her travel several times each month, she's not doing as many long- haul flights for pleasure as she used to.
'When I joined BP from La Trobe, I was looking for a role which would challenge me, reward me and provide a career,' she says. 'I didn't set out to be the MD of a finance company, or indeed to work in government or a bank. What happened along the way was a series of great offers, which have given me great jobs, new friends, remuneration and the possibility as I think about the next stage of my career of undertaking a series of roles (coaching, mentoring) which I didn't know existed (and they may not have existed!) when I left university.'
Her daughter, Katrina, chose a different career path - the magazine world. She's deputy editor of a national fashion magazine, based in Sydney.
Elizabeth has one minor career regret. 'I wish I had had the courage to be myself a little earlier. When I started, I tried to adjust to the mores and male culture of the oil industry instead of saying 'this is me, this is how I do it'.'
'I've always aspired to leave organisations - their finances and their culture - in better shape than I found them. However, the responsibility to do this was powerfully brought home to me by a lecturer at the London Business School last year, the late Professor Sumantra Ghoshal. He told us: 'Being a CEO is a privileged position of enormous power, and one of significant potential influence. Use that opportunity well. At retirement you will regret far more the things you should have done and did not do than anything else. It may take enormous courage but you must act.''
Contact: prouste@anz.com
The Faculty of Humanities and Social Sciences offers a wide range of courses, including the Bachelor of Arts, a range of 'specialist' and double degrees, Diploma in Languages, Research Programs, Masters by Coursework and Graduate Diplomas and Certificates. For more information, visit www.latrobe.edu.au/humanities/index.html, phone +61 3 9479 2023 or email: lhuss@latrobe.edu.au.