02:18. Before we were greeted by this milestone, Ursula Burns stepped down as CEO of Xerox Corp. after the completion of its corporate restructuring earlier this year. There are no Black executives in the role of chair, CEO or CFO at Britain's 100 biggest companies for the first time since 2014, according to a report. "According to Equilar, a clearinghouse for corporate leadership data, 29.6% of companies on the S&P 500 do not have at least one Black board member. The numbers arent much better on the rungs of the ladder leading to that role. Burns represented the first and only African American woman to be appointed chief executive of an S&P 500 company. This year's Fortune 500 list was a record-breaking . But the ultimate statement had been made. In 2021, women earned 90% of what men earned. Since 1970, BLACK ENTERPRISE has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2022 Dow Jones & Company, Inc. All Rights Reserved, Today's Top Deal: 50% off any order + free delivery with DoorDash promo code, 25% Off sitewide with this Target Promo Code, Tempo Promo Code: Save $1000 on the Tempo Studio Starter Pack. Over the complete history of the Fortune 500, which dates back to 1999, there have only been a total of 19 Black CEOs leading America's Fortune 500 companies. When their overall numbers peaked (at seven, in 2007), their representation was still minuscule, representing fewer than 2 percent of all Fortune 500 CEOs, but at the very least, during the 2000s, the direction of the trendline was up. cnx({ 68% of Chief Executive Officers are male, and 31% are female, so there are more male Chief Executive Officers than female Chief Executive Officers in the United States. Men and women in C-suite positions such as CEO (chief executive officer); COO (chief operating officer); CFO (chief financial officer); CAO (chief administrative officer); CIO/CTO (chief information officer/chief technology officer) or similar designationon their companys leadership team, senior management group, executive committee, or corporate board. The message could not have been more clear; even while committing the most extreme acts of violence and threat, white bodies benefit from disproportionate privilege. We created this chart to show you the average size of companies that typically hire chief executive officers. Today, there are five Black CEOs in the Fortune 500. Zweigenhaft says that a crucial turning point was the financial crisis, which prompted layoffs even at high levels of companies. Percentage of Chief Executive Officers By Race. For non-personal use or to order multiple copies, please contact These departures reduce the ranks of black CEOs leading the largest publicly traded corporations to a handful. Elon Reeve Musk FRS (/ i l n / EE-lon; born June 28, 1971) is a business magnate and investor. But without continued pressure of a similar scale, the theory goes, such progress waned. Corporate leaders have a critical role to play, and they are stepping up to denounce injustice. Former Xerox chief executive Ursula Burns became the first Black woman at the top in 2007 before stepping down in 2017. In recent years, the pace at which big companies appointed CEOs of color has slowed dramatically. Last week, Merck CEO Kenneth C. Frazier announced his plans to retire in the spring. Sales Partnership Solutions Zweigenhaft says that in the most elite professional circles, mentees are often chosen based on how comfortable an existing team of executives or board members might feel with them. These Celebrity Mega-Mansions Are Now Almost Worthless: Listed. What makes the outlook for improvement even more dismal is that the share of people of color at the highest levels of corporate America is decreasing even as the need for companies to cultivate diversity becomes more apparent. 31.5% of all chief executive officers are women, while 68.5% are men. Brewer's recent appointment was a win long overdue. If corporate life is a pyramid, for Black Americans, it is one with the steepest of peaks. cnx.cmd.push(function() { Where Are Chief Executive Officers In High Demand? And then there is a theory that in the longer term, the wave of CEOs of color was the slow manifestation of the effects of the civil-rights movementwhich allowed for some measure of educational and social equity, and put more people of color into higher-ranking positions and major companies. Among all U.S . Cisco said that means a "25% increase in representation of Black employees from entry-level . Women of Power Summit For a few brief months, once Roz Brewer begins her tenure as CEO of Walgreens Boots Alliance and before Frazier steps down, that number will rise to five. There are over 38,708 chief executive officers currently employed in the United States. . Due to the changing landscape, our list also consists of executives from previously excluded categories such as general counsel, chief technology officer, global human resources officer, or the equivalent. We can get there, but only if we ask the right questions. The darker areas across the 50 states highlight the highest salaries. The world reactedmany corporate CEOs, too, rushed to condemn the attack on American democracy. Why, after so many years of awareness of this problem, is that number still so stubbornly low? I do not suffer any delusions that expanding the pipeline of Black CEOs will be easy. A close second is master's degree with 19% and rounding it off is associate degree with 11%. And we have expanded our list from 100 senior managersour number in 2009 and 2012to 300 top executives. On average, 58 percent of Black professionals in the U.S. experience racial prejudice at work, and in some regions it is far worse (79 percent of Black professionals in the Midwest, for example). Employees with the chief executive officer job title have their preferences when it comes to working for a company. Over the complete history of the Fortune 500, which dates back to 1999, there have only been a total of 18 Black CEOs leading America's Fortune 500 companies. In all, there have been only 18 black CEOs on the Fortune 500 lists since 1999. We exist in a country divided. B.E. Executives who work for government agencies and entities under full government control. His retirement wont just change the uppermost ranks of the company hes ledit will also whittle the number of black CEOs in Fortune 500 companies down to three, continuing a downward trend among the nations biggest corporations. Despite ample warning, the police did not manage to stop the mob from entering the Capitol. Editors have also consulted leading executives, management experts, professional organizations, and other sources as part of the selection process. In fact, our list includes the first African American to lead a publicly traded commercial airlinealbeit temporarily: Brett J. Hart, EVP, Chief Administrative Officer & General Counsel of United Continental Holdings, piloted the company for six months as acting CEO after president and CEO Oscar Munoz suffered a heart attack in October 2015. While the business community . Its hard to point to a single cause of the reversal of 00s trends, but there are several theories. . She will be the only black woman among female Fortune 500 chiefs, which reached a record high of 41 last November. That means that black CEOs make up a tiny fractionjust 1%of the Fortune 500 despite African-Americans representing 13.4% of the U.S . Yet, again, the news is bittersweet. Another possibility is that two broad pushes for diversityone shorter-term, the other longer-termbegan to falter at around the same time. Among all U.S. companies with 100 or more employees, Black people hold just 3% of executive or senior-level roles, according to Equal Employment Opportunity Commission data. The percentage of women CEOs and CFOs is at its highest level ever. The views expressed in this article are the writer's own. Records show that there have only been a total of 18 Black CEOs leading America's Fortune 500 companies since 1999. Privacy Policy With two Black women running Fortune companies out of 41 women executives in 2021, they represent 4% of female Fortune 500 CEOs. Subscribe to Newsletter ABOUT All the while, women of color remain virtually nonexistent in the highest ranks of large businesses. Executives who manage local and statewide divisions. Distribution and use of this material are governed by Entrepreneurs Summit New York CNN . !function(n){if(!window.cnx){window.cnx={},window.cnx.cmd=[];var t=n.createElement('iframe');t.display='none',t.onload=function(){var n=t.contentWindow.document;c=n.createElement('script'),c.src='//cd.connatix.com/connatix.player.js',c.setAttribute('async','1'),c.setAttribute('type','text/javascript'),n.body.appendChild(c)},n.head.appendChild(t)}}(document); 23 134,000 According to the Census Bureau, there are over 134,000 Black-owned businesses in the United States, with around 1.3 million employees. Those statistics mean there aren't many Black-led companies that have drawn the funding to reach unicorn status, or a valuation of $1 billion or more. Lanaya Irvin is CEO of Coqual, a nonprofit think tank dedicated to workplace diversity, equity and inclusion. Executives had to meet the following criteria to make our roster: List research was conducted by Lisa Fraser, Mia Hall, Roland Michel, Delicia Paisley-Smith and Tiamari Whitted. No short cuts. Interestingly enough, the average age of chief executive officers is 40+ years old, which represents 90% of the population. Corporate leaders spend years, even decades, grooming protgs and preparing their successors. The Londoner expressed shock at her treatment by the late Queen's lady-in . Hispanic or latino chief executive officers have the lowest average salary at $205,415. Chief Executive Officer Unemployment Rate, Administrative Assistant To General Manager. Each executive holds companywide and industrywide influence among the following universe:1,000 largest publicly traded companies; 100 largest international companies with significantU.S. operations; the S&P 500 companies; and largest privately held corporations. 1. As I advanced in my career and rose through the ranks, I witnessed an almost contagious dismissal of professionals of color and women. At No. It's hard to be what you cannot see. The number of Black CFOs nearly doubled from 2020 . Places Where $150K Is More . Through a series of executive orders, the new administration has put forth unprecedented support for greater equity and equality in our institutions. The most common ethnicity of chief executive officers is White (81.1%), followed by Hispanic or Latino (7.0%), Asian (6.8%) and Black or African American (3.2%). Their roles could not be more vital in a business environment at warp speed as corporations must adapt to and apply tech that seemingly changes within nanoseconds, consume data to know every demographic and psychographic detail of clients and covet the millennial set as both customers and workers, pivoting in just about every area from brand marketing to the workplaces mien. Originally published on LiveScience 9 mins ago. The peak year for representation was . Using the Census Bureau data, we found out how the percentage of each ethnic category trended between 2010-2019 among chief executive officers. Research Summary. When Chenault took over at American Express in 2001, the number of CEOs of color at the countrys biggest companies was on the rise. Of the 1,097 most powerful people, only 51 are from ethnic minorities. Thasunda Brown Duckett officially took the helm as the new CEO of TIAA on Saturday, becoming the fourth Black woman ever to head a Fortune 500 company. According to Equilar, a clearinghouse for corporate leadership data, 29.6% of companies on the S&P 500 do not have at least one Black board member. Using a database of 30 million profiles, Zippia estimates demographics and statistics for chief executive officers in the United States. The number of black executives leading America's largest companies is always low -- though three is particularly staggering. First and foremost, we must collectively acknowledge bias and structural barriers that impact the lives of so many. In a 2015 analysis, Zweigenhaft referred to the current pace of diversification in the highest ranks of corporations as glacial, noting that the addition of one or two people of color to a few high-ranking positions at big companies only moves overall representation by a percentage point, if that. playerId: '6edb1640-7c53-4aaa-b923-9309b1053298' Non-executive corporate directors regardless of board position (chairman, lead director). How many Chief Executive Officers are in US? Additionally, the percentage of female chief executive officers has increased by 6.2 percentage points since 2010. BE 100s Women of Power TECH, PODCASTS By looking through more than 38,525 resumes, we found that the most popular places for chief executive officers are New York, NY and Los Angeles, CA. It shouldnt be incumbent upon a single company with a CEO of color to replace him or her with another person of color, but losing CEOs of color diminishes executive diversity when, among big corporations, they arent being appointed elsewhere. For the first time, in 2021, two Black females are at the helm of Fortune 500 companies at the same time: Roz Brewer and Thasunda Brown Duckett. The 300 Most Powerful Black CEO, COO, and Other Executive Positions in America. There are over 42,356 Chief Executive Officers in the United States. We're already behind. Note that Zippia's estimate accounts only for the 38,708 people with the specific job title of chief executive officer and doesn't include grouping similar job titles, or people with potentially similar credentialing. 5 min read. The question is aging poorly because the answer is abundantly clear. This year the . Our estimates are verified against BLS, Census, and current job openings data for accuracy. And the limited progress that has taken place in recent years has aided white women and South Asian immigrants much more than to blacks, Latinos, or Asian Americans from places such as China, Japan, or Korea, Zweigenhaft says. If the leadership team is white men, they tend to look at people like themselves, he says. Women and people of color were more likely to get pushed out. Theres data that broadly supports that idea, suggesting that a last in, first out model can apply to both minorities and women during times of economic hardship. In all there have only been 18 black CEOs on the . The peak year for representation was . our Subscriber Agreement and by copyright law. Using the data below, you can see how other job titles compare to chief executive officers. The most common degree for chief executive officers is bachelor's degree 59% of chief executive officers earn that degree. Most Powerful Executives Black CEO, COO, and Others. It wasnt just black executives who were being promoted at this time. Ngozi Fulani, the CEO of a domestic violence charity for Black women, has spoken out about the "horrific online abuse" that she's endured after courageously speaking out about racism at Buckingham Palace. (, Although vital to global business overall, CEOs and top executives from the. "According to Equilar, a clearinghouse for corporate leadership data, 29.6% of companies on the S&P 500 do not have at least one Black board member. Your Money, Your Life, LATEST LISTS Getty Images for Essence. All executives have held their positions as of Nov. 1st. All companies have $1 billion or more in annual revenues. Share to Linkedin. 0. Ken Chenault, the CEO of American Express, at a meeting in New York City. For instance, most chief executive officers prefer to work at private companies over public companies. They broke windows, attacked officers, damaged propertyand were still given space and time to take selfies as they pranced through the building. While the business community celebrates Frazier's success and industry leadership, many of us will also mourn his departure. And those dynamos represent but a few of our corporate elite. Yes, Chief Executive Officer jobs are male - dominated. In 2007, there were seven black CEOs heading Fortune 500 companies. By looking over 38,525 chief executive officers resumes, we figured out that the average chief executive officer enjoys staying at their job for 11+ years for a percentage of 24%. Enrich their everyday. In those exact words. As the sociologists Richard L. Zweigenhaft and Bill Domhoff catalogue in The New CEOs: Women, African American, Latino, and Asian American Leaders of Fortune 500 Companies, other minority groups came to be better represented as well. Her new position is . BLACK ENTERPRISE is the premier business, investing, and wealth-building resource for African Americans. Black professionals are 30 percent less likely than their white counterparts to have access to senior leaders at work. 25 Amazing Black Scientists. At Coqual, our 2019 Being Black in Corporate America research found that despite higher levels of ambition, Black professionals face bias and disproportionate barriers to success and advancement in the workplace. I recall when a colleaguea seasoned equities trader and woman of colorraised her hand for an open senior management opportunity and was told by the head of business, "We need a white male in this seat." Too often, Black Americans do not have a voice in or are not heard by corporate America. As we mark another Black History Month, headlines like these are fresh reminders that so few Black professionals hold seats of power. Today, there are five Black CEOs in the . "In the history of the Fortune 500 list, first published in 1955, there have been only 19 Black CEOs out of 1,800 chiefs," says my colleague Phil Wahba in this must-read-and-share piece. It seems the glass ceiling shatters only to be swiftly restored by so many invisible hands, as if prefabricated and in easy supply. In the aftermath of the insurrection at the U.S. Capitol, I find it difficult to shake images of citizens turned rioters storming one of the most secure structures in this country, proudly displaying symbols of hate: Confederate flags, shirts bearing "Camp Auschwitz" and hand gestures signaling white power. Last month, as Black Lives Matter protests swept the country, . Between 2008 and 2018, this is how the number of chief executive officers changed. We found most chief executive officers work for a private company. The Bureau of Labor Statistics came in clutch when it came down to figuring out how the unemployment rate has changed over time. Last week, Merck CEO Kenneth C. Frazier announced his plans to retire in the spring. While we developed this report, American Express CEO Kenneth Chenaultthe model of global corporate leadershipannounced his retirement, leaving the post that hes held for 16 years on Feb. 1, 2018. Consider this: If the CEO makeup of the Fortune 500 was reflective of U.S. demographics, there would be more than 65 Black CEOs (13.5%) leading America's largest public companies, compared to . While diversity pushes have led to the hiring of more young people of color at large companies, very few can be found in the senior ranks from which CEOs are often selected. There are currently 15 job openings for chief executive officers here. TIAA, a Fortune 100 . The ranks now include Kenneth Frazier of Merck & Co.; Roger Ferguson of TIAA; Arnold Donald of Carnival Corp.; and Marvin Ellison of J.C. Penney. Translation: She was disqualified not for lack of credentials, expertise, or performance, but due to a definition of leadership that was linked inextricably with being white and being a male. Let's dive in and take a closer look at these leading Black American CEOs. Nearly one-third say their colleagues underestimate their intelligence. Top-tier executives who serve as corporate officers or members of the senior leadership team. We've broken these top level positions down into eight sectors. This copy is for your personal, non-commercial use only. These nine top Black CEOs are making history as minority representation in C-level positions. Meet the 300 Most Powerful Executivesmen and women who ensure their corporations market leadership through revenue generation, profitability, market share, and strategic development. }).render('20a8b375791e4747b3ea338f8ab6c52e'); About Fixing a problem this deep, and building a pipeline of leaders, will take intentionality and commitment to change. The most common foreign language among chief executive officers is Spanish at 40.0%. There were 13 Latino CEOs in 2008, and then again in 2015; the . Chief executive officers with a Doctorate degree earn more than those without, at $245,950 annually. Today, there are five Black CEOs in the . News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. It may have something to do with employees of color being likelier to leave a company before they reach its upper echelons, perhaps because of corporate culture or a lack of clear advancement opportunities. The C-Suite is indeed rare air. That is 4.6%, versus 14% of the UK population. That means that black CEOs make up a tiny fractionjust 1%of the Fortune 500 despite African-Americans representing 13.4% of the U.S . As a professional who spent more than a decade on Wall Street, I know what it means to be "the only": the only woman, the only Black body, the only LGBTQ professional in a room. Not counting the one interim appointment (Claire Babrowski at Radio Shack in 2007), and those who were still CEOs in 2020, the average length they were CEOs of Fortune-ranked companies was 6.1 years, with a range . During that same period from 2005 to 2011, 12 Latinos and 13 people of Asian descent were promoted to CEOs in Fortune 500 companies. On 2/12/21 at 5:30 AM EST. The peak was six in 2012. Bias and lack of access make for a narrow path forward. In one exchange, the host told Burns that there are currently four Black CEOs among the Fortune 500 companies, to which Burns replied, "And zero of those four are women.". Her background includes more than 10 years on Wall Street, where she worked in global finance. Now, the future of CEO diversity is not very encouraging. This chart breaks down the ages of chief executive officer employees. 3.2% of Chief Executive Officers are Black or African American, Most a are White, with 81.1% of Chief Executive Officers belonging to this ethnicity. https://www.wsj.com/articles/why-are-there-still-so-few-black-ceos-11601302601. Although Chenaults departure diminishes the number of African Americans leading the 500 largest public companies, we found top leadership among a larger universe of public and private companies. When Chenault steps down from American Express in 2018, hell be replaced by Stephen Squeri, who is currently the companys vice chairman, and American corporate leadership will take one more step toward looking a bit more like it did before Chenault held the role. We looked over job openings to determine where in the country chief executive officers are in the most demand. 90% of Chief Executive Officers are 40+ years old or older, 10% are between the ages of 30-40 years, and 0% are between 20-30 years old. By far, it was our most expansive research of African American corporate leadership since we developed Americas 25 Hottest Managers in 1988a roster that did not have a single black CEO or woman among them. And some of the issue is likely attributable to the way senior executives select their protgs (and thus often their successors). With a Masters degree, chief executive officers earn a median annual income of $240,076 compared to $219,240 for chief executive officers with an Bachelors degree. Management For this reason, it is painfully frustrating when people ask, "Why are there so few Black CEOs?" Change requires sustained commitment. There were 13 Latino CEOs in 2008, and then again in 2015; the number of CEOs of Asian descent peaked in 2011, at 14. Next year, that number is set to drop to three. 32.5% of chief executive officers are female in the United States. In the United States, the situation is not much better - Fortune reported that there are currently only four Black CEOs at Fortune 500 companies, while the all-time high was six achieved in 2012. But I do believe we are in a moment of cultural transformation. But that trend toward diversity later stalled out, then reversed. There are no Black CEOs. And . During that same period from 2005 to 2011, 12 Latinos and 13 people of Asian descent were promoted to CEOs in Fortune 500 companies. As of mid-2021, just four Black CEOs are heading up companies in the Fortune 500. Asian men accounted for just under 8 percent of this group, and black and Hispanic candidates of both genders combined to make up less than 7 percent of the pool. For those of us tasked with providing an answerand it's often Black professionals to whom this question is directedit's as if the world is weaponizing ignorance of racism against us. There were twice as many white women Fortune 500 CEOs in 2020 as there were in 2010. 3.2% of Chief Executive Officers are Black or African American, 1.3% of Chief Executive Officers are Unknown, and 0.6 . Like Comments. Even with more people of color attending prestigious schools and with a bevy of programs aimed at getting more minorities into management at the countrys biggest companies, advancement and retention within those companies remain elusive. Chief executive officers are in high demand in Los Angeles, CA. The average Chief Executive Officer is 52 years old. What Percentage Of Chief Executive Officers Are Female? In the history of the Fortune 500 list, there have only been 19 Black CEOs out of 1,800 chiefs. Among CEOs representing colossal private companies: Bernard Tyson of Kaiser Permanente (2016 operating revenues: $64.6 billion), Jo Ann Jenkins of AARP (2016 operating revenues: $1.6 billion), and Charles E. Phillips of Infor Global Solutions (2016 revenues: $2.8 billion). A dynamic like this would produce even more of a shortage of people of color in companies senior ranks, further reducing the diversity of those next in line for the role of CEO. View the entire The Most Powerful Executives in Corporate America list here. Women Earn 90 For Every $1 Earned By Men. It recently set goals to increase the representation of Black employees at all levels of the company. there were 134,000 Black-owned businesses with at least one employee in 2019. This is 2.7 percentage points higher than last year. A future in which a retirement is simply a celebration of legacynot a lament at losing a precious corporate role model for Black professionals. Opinion Company Companies Jobs Black Lives Matter. This data shows how men and women predominate in the chief executive officer position over time. Early next year, Ken Chenault will step down as the CEO of American Express, a position he has held for more than 16 years. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. }); EVENTS In the same period, there have only been four Black women Fortune 500 CEOs. Yet, studies show . It requires holding corporate boards and current C-Suite leaders accountable for that change. Between 2005 and 2011, Fortune 500 companies added eight new black CEOs. He is the founder, CEO and chief engineer of SpaceX; angel investor, CEO and product architect of Tesla, Inc.; owner and CEO of Twitter, Inc.; founder of The Boring Company; co-founder of Neuralink and OpenAI; and president of the Musk Foundation.With an estimated net worth of around $171 . Its a fascinating collection of executive talent that impact an array of sectors, including those responsible for manufacturing autos and aircrafts, managing iconic, world-class brands, developing revolutionary software products, overseeing mammoth commercial transportation systems, investing billions in assets, and even one directs teams that design and create experiential programming for the some of the worlds largest shopping centers. Ann-Marie Campbell, EVP, U.S. Stores for The Home Depot, runs a mammoth retail operation, contributing to $95 billion in 2016 annual revenues and management of roughly 400,000 employees. However, since 2020, there have been six Black CEOs leading Fortune 500 companies. Discover the other groundbreakers who can be found on this exclusive listing. David Huntley, AT&Ts senior executive vice president and chief compliance officer handles, among other tasks, the safeguarding of customer and employee data as well as the reputation for the sprawling telecom giant that produced $164 billion in 2016 revenues and has a payroll of close to 270,000 worldwide. The . They benefit from the privilege of safety. Black leaders are far more likely to have their competence questioned, especially as we advance into executive level roles. Black Men XCEL Contact During this most recent reckoning on race, hundreds of companies have pledged to address systemic racism and inequity with a sense of urgency we haven't seen before. Theyre among the most transformative business leaders on the planet. 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And as president of Holland America Cruise Lines, Orlando Ashford navigates a fleet of 15 premium vessels that carries roughly 850,000 guests annually to all seven continents, helping its profitable parent Carnival Corp., the worlds largest cruise operator, smoothly sail to $16.4 billion in 2016 revenues. Derek T. Dingle December 6, 2017 May 14, 2018 26016. Having led J.C. Penney as chairman and CEO before moving to Lowe's, Ellison is the only Black CEO who has led two different Fortune 500 companies. Of the 83 women who have been CEOs of Fortune 500 companies since 2000, 72 have been white women. Registry of Corporate Directors. When we open our eyes and connect the dots, it is not necessary to ask why there are so few Black CEOs. Frazier is one of only four Black Fortune 500 CEOs. Time and again, Black and brown communities receive and digest messages communicating that our contributions are worth less, that our lives have less value. Ad Microsoft. Masthead, Most Powerful Executives Black CEO, COO, and Others, Economic Equity & Racial Justice Townhall Series, Elevate Black Podcast sponsored by Fifth Third Bank, 100 Founders of Change by American Express, Chasing Success Podcast by JP Morgan Chase, Black Business Month Sponsored by Nationwide, 2022 Registry Of Corporate Directors Listing, 2021 BE Registry Of Corporate Directors Listing. Out of the chief executives running America's top 500 companies, just 1%, or four, are Black. As you can see, district commercial superintendent and street superintendent have the biggest difference in gender. Those industries include hospitality, health care and finance. Irvin is a longtime leader in advocating for LGBTQ rights and equity in the workplace. Without fundamental changes to companies hiring, retention, and mentoring processes, its hard to imagine that big business will ever get more diverse. White chief executive officers have the highest average salary compared to other ethnicities. After 2008 or 2009, often the people who were not white men were the first to go, he says. We compared this job title with other job titles to see how gender percentages varied. In the shorter term, Zweigenhaft points to the limits of initiatives led by colleges and employers that made diversity a buzzword in the past decade: A large concerted attempt to integrate an industry can change the landscape just enough to make progress look substantial and successfulwhich then makes diversity a less pressing priority. Out of the chief executives running Americas top 500 companies, just 1%, or four, are Black. Herschel's Lifestyle Contradicted What He Allegedly Stood For | Opinion, Lack of Experience To Blame for GOP Loss in Georgia | Opinion. The most common ethnicity among chief executive officers is White, which makes up 81.1% of all chief executive officers. Those who hold the position of Chief Compliance Officer, Chief Legal Officer and General Counsel as members of the senior leadership/corporate strategy team alsomade our list. Share to Twitter. More than 42,356. . Record 41 female CEOs among Fortune 500 includes 2 Black women for 1st time. There can be no quantum leap forward. SistersInc. A few years later, after some inattention, the issue resurfaces. Join half a million readers enjoying Newsweek's free newsletters. There's . This section highlights information about where chief executive officers work. We now have a president who is setting a new tone. Chief executive officers earn the most in Hawaii, where the average chief executive officer salary is $191,313. Regardless of inclusion on the executive committee, top executives with sole responsibility for stafffunctions including but not limited to corporatecommunications, corporate affairs, investor relations, public affairs, public policy, media relations, governmentrelations, community affairs, philanthropy, and diversity. The numbers aren't much better on the rungs of the ladder leading to that role. That means there are a total of 12,580 female chief executive officers in the U.S. and 26,128 male chief executive officers in the United States. The reality is, underrepresented groups often see their contributions devalued in corporate spaces. Brighten their holiday. Meanwhile, more than 12% of the U.S. population and 10% of college grads are Black, so "you would expect to find 50 Black . Where Do Chief Executive Officers Earn The Most? Nearly one in five feel that someone of their race or ethnicity would never achieve a C-Suite or CEO role at their company. Just based on the number of employees within each industry, we were able to determine the most common industries that employ chief executive officers. Marvin Ellison, Lowe's. Image source . This year, our editorial research team reviewed more than 1,400 companies comprised of the 1,000 largest public corporations, 100 international companies with a major U.S. presence, all firms listed on the S&P 500, and 250 leading privately held companies. Kenneth C. Frazier, chair and CEO of Merck & Co. speaks at the New York Times DealBook conference on November 1, 2018. On May 1, TIAA welcomes Thasunda Brown Duckett, its first African American female CEO and the fourth Black woman CEO in a Fortune 500 company. In 2021, 6.9% of companies were led by female CEOs, and 15.1% had female CFOs. In all there have only been 18 black CEOs on the . Today, there are only four African Americans serving as Fortune 500 CEOs . At Coqual, I am fortunate to lead a passionate group of people who are committed to diversity, equity and inclusion, to advancing research that supports corporations create a more equitable workplace. Today, there are only three Black CEOs - Craig Arnold of Eaton . After extensive research and analysis, Zippia's data science team found that: 31.5% of chief executive officers are women and 68.5% of chief executive officers are men. Other titles include president, general manager, executive vice president, or another top-rankingposition with significant management responsibility and budget authority. Its been five years since BLACK ENTERPRISE has developed the roster of Most Powerful Executives. Which State Has The Most Chief Executive Officers? INFORMATION 7.0% of Chief Executive Officers are Hispanic or Latino, 6.8% of Chief Executive Officers are Asian, 3.2% of Chief Executive Officers are Black or African American, 1.3% of Chief Executive Officers are Unknown, and 0.6% of Chief Executive Officers are American Indian and Alaska Native. And even at its most diverse, the leadership of major companies is overwhelmingly white and male. And there are only four Black CEOs leading Fortune 500 companies. Chief executive officers are 54% more likely to work at private companies in comparison to public companies. In forthcoming research, Zweigenhaft and Domhoff studied the pipeline of potential future CEOs, defined as those executives who were one to three rungs below CEOs, and found that prospects for candidates of color were slim: More than two-thirds of potential future CEOs were white men, followed by white women, who accounted for around 20 percent. The map here shows where chief executive officers earn the highest salaries in the U.S. Positions include those with oversightof operations, sales, marketing, technological infrastructure, data science, product development and overall talentmanagement and training. Continue reading your article witha WSJ membership, Already a member? What happened to progress toward diversifying corporations' highest ranks? Chenault (who was only the third black CEO to run a Fortune 500 company) was eventually joined by Don Thompson at McDonalds, Ursula Burns at Xerox, Roger Ferguson at TIAA-CREF, Kenneth Frazier at Merck, and Marvin Ellison at J.C. Penney, among others. In addition, the industry that employs the most chief executive officers is the hospitality industry. So on our list, youll find not only the aforementioned chief executives but also leaders of publicly traded global leviathans like Craig Arnold of Dublin, Ireland-based Eaton Corp. plc (2016 annual revenues: $19.7 billion) and Tidjane Thiam of Zurich, Switzerland-based Credit Suisse (2016 annual revenues: $19.87 billion). The second-most popular foreign language spoken is French at 12.3% and German is the third-most popular at 7.5%. We determined the average age of chief executive officers based on ethnicity and gender. 4, CVS Health's Karen Lynch also is the highest rated ever. As such, they hold top-tier and executive officer positions within the entire enterprise; operate coresubsidiaries and divisions, and maintain billion-dollarbudget authority. After finding the gender ratio, we wondered if the percentages of LGBT persons were different as well. We envision a future in which chief executive ranks are replete with diversity of all kinds. . Comparatively, there are 7.0% of the Hispanic or Latino ethnicity and 6.8% of the Asian ethnicity. As the CEOs who broke racial glass ceilings retired or were removed, their ranks were replenished primarily by white men, returning the countrys corporate leadership to an earlier status quo. 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