(Bloomberg) — Citigroup Inc., Match Group Inc. and Bumble Inc. stand out among publicly traded companies for helping cover travel costs for employees seeking abortions after several U.S. states implemented or proposed a near-total ban on the procedure. The firms also have something else in common: They all have female CEOs.
Banking giant Citigroup, led by Chief Executive Officer Jane Fraser, said late Monday in a regulatory filing that following “changes in reproductive health-care laws in certain states in the U.S., beginning in 2022 we provide travel benefits to facilitate access to adequate resources.”
Match CEO Shar Dubey said last year she was creating a fund to help cover the costs for staffers and dependents who need to seek care outside the state, and competitor Bumble, led by founder Whitney Wolfe Herd, created a similar fund. Dubey told employees of Dallas-based Match in September that “as a Texas resident, I am shocked that I now live in a state where women’s reproductive laws are more regressive than most of the world, including India,” where she’s from.
In the S&P 500, just 31 companies have female CEOs — Citigroup and Match among them. Not all firms helping workers deal with the new laws are led by women: Medical insurance provided by another index member, Apple Inc., covers travel expenses for out-of-state abortions, CEO Tim Cook has told employees.
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