Women have made steady progress, according to Lorraine Hariton, President and CEO of Catalyst, a nonprofit focused on womens leadership. Revenue rose 89.1% in 2021, driven by the company's REGEN-COV antibody treatment for prevention and treatment of COVID-19. This year, Nadella was voted the most underrated CEO for the sixth consecutive year, according to the survey behind Fortunes Worlds Most Admired Companies. Benioff founded Salesforce in 1999, adopting the marketing slogan "The End of Software." 3. A significant gender-wage gap still exists; among full-time workers, women earn 77% of what men earn (US Census, 2005), only 3.2% of Fortune 500 CEOs are currently women (Catalyst, 2011), despite few differences The offers that appear in this table are from partnerships from which Investopedia receives compensation. But theres still a sizable parity chasm. This is what 21st-century CEO leadership looks like. A 2013 Tanenbaum survey finds that 36% of American workers, or about 50 million people, have experienced or witnessed some form of religious discrimination or non-accommodation in their workplace. Pam is an external investigator for employment matters and also handles a variety of employment and business disputes. In fact,the majorityof business leaders get it. Catz was a banker before she joined Oracle as a Senior Vice President in 1999. As of the release of the 2017 list, there are currently four black CEOs among the cohort: Roger W. Ferguson, Jr., another TIAA CEO; Kenneth C. Frazier of Merck; Chenault at American Express; and J.C. Penneys CEO Marvin R. Ellison. A tiny fraction less than 1% of Fortune 500 companies have Black CEOs. Missing Pieces Report: The Board Diversity Census of Women and Minorities on Fortune 500 boards, 8.2% last year, when women led 41 of the 500 companies, Everything you need to know about CEO diversity. Only crazy California cultural marxists would ever concoct such an absurd compensation scheme in order to further divide American society. Norways sovereign wealth fund, the worlds largest, called on its portfolio companies toset targets for gender diversity on boards. He earned $770.5 million in 2021 alone, mostly as a part of a 10-year grant of shares worth $1.7 billion. Responsibilities. Schwab Foundation for Social Entrepreneurship, Centre for the Fourth Industrial Revolution, The number of female CEOs in the Fortune 500 has hit a new record, The 5 youngest CEOs of Fortune 500 companies. White Male Fortune 500 CEOs, New CEOs, the Uk. From here, we can see some of the progress thats been made toward diversity, equity, and inclusion overall, and the ground we have left to cover. In one year, women across major economies were24% more likelyto lose their jobs than men. The forum officially kicked off in March in Mexico City, sounding a clarion call for concrete, ambitious, and transformative actions to achieve immediate and irreversible progress toward gender equality. We are calling on businesses to showcase their commitment bysigning up to become a Generation Equality Commitment Maker. The number of Fortune 500 companies with greater than 40 percent diversity has more than doubled from 69 to 145 since 2012, according to the "Missing Pieces Report: The 2018 Board Diversity Census of Women and Minorities on Fortune 500 Boards," a multiyear study published by the Alliance for Board Diversity (ABD), in collaboration with Deloitte. Diverse backgrounds and experiences on corporate boards, including those tho represent a broad range of society, strengthen board performance and promote the creation of long-term shareholder value, the report said. And it would take at least 26 skyscrapers to give each of those 5,089 executives and senior officials a corner office. The provided columns include: Year- year that the fortune 500 list was published Rank- company's position on the fortune 500 list Company- name of the company. A spokesperson acknowledged that during the latest fiscal year, Huang "realized about $507 million from expiring options that had been granted in 2011 and 2012, reflecting the approximately 60x increase in the companys share price over the [past] decade.". Ultimately, The Measure Up data reveals just one of the many hurdles to overcoming the lack of Fortune 500 diversitydata. A record 120 women are serving in the newly elected House, accounting for 27% of the total. The full list is below. Cook has been CEO of Apple Inc. since 2011. But its nowhere near the speed wed like it to be., With 44 female chief executives spearheading America's largest companies, women now run 8.8% of businesses on the 2022 list, per reporting from Fortune. Join today for access to career opportunities and helpful resources. It promotes change among the employees who are able to look at their peers in an entirely different light than [they did] in the late 1970s when I was in government, said Weldon J. Rougeau, who was director of federal contractor compliance at the Department of Labor during the Carter administration. You can unsubscribe at any time using the link in our emails. The African-American CEO in office the longest was Kenneth Chenault, at American Express for 16 years, from 2001 through 2017 (#74 in 2001, #86 in 2017). One of those problems Rougeau may have been referring to when he talked about corporate diversity in 2006 is the way tokenism manifests for high-ranking people from marginalized communities. The Most Powerful Women team reported on Wednesday that 32 of the CEOs on this years list are women. Revenue rose 24.7% percent in 2021. However, it seems likely that women at Fortune 500 companies see better representation in senior official roles than they do among CEOs. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Nadella has headed that list since 2017. #PepsiCo, which brings in $80 billion a year in revenue, is a veritable CEO factory. Leadership teams that reflect the diversity of our communities and our world are the ones best fit for the futureand best equipped to respond in ways that safeguard their business interests. . That's up from 8.2% last year, when women led 41 of the 500 companies, and six times their share two decades ago, when women led just seven Fortune 500 businesses.. Though America has become increasingly more diverse, C-suite diversity continues to lag behind. Benefits also extend to talent recruitment and retention, customer service, and social responsibility initiatives. Fortune 500; List of Fortune 500 computer software and information companies; 40 under 40; (They tell the story behind their name, based on a 2010 book by Laura Liswood, here.). The company had a blockbuster 2021, bringing in $53.8 billion in revenue, up 71% from 2020, and expanding significantly into key European and Chinese markets. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. But 44 female CEOs in the ranks of the countrys 500 largest companies demonstrates theres still work to be done. The world's richest person also received the highest CEO compensation in 2021. In the middle of the 20th century, virtually all of those who ran the largest companies in the USA were white men . Compensation Your salary last year was around 10 million. Every business must be ready to respond. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. .chakra .wef-facbof{display:inline;}@media screen and (min-width:56.5rem){.chakra .wef-facbof{display:block;}}You can unsubscribe at any time using the link in our emails. This was such a significant departure from previous editions of the report that it got a call out in The New York Times DealBook. CEOs must meet this moment by closing gender and race gaps in leadership. Growing steadily since its inception into an esteemed Fortune 500 corporation, annual . Rather, she said, we should delight in the number of potential allies who work for these titans of industry. Microsoft did not respond to a request for comment. of many prestigious awards for diversity, equity, and inclusion, including a DiversityInc Top 50 Company, Best CEO and company for women, LGBTQ+, multicultural talent, and . The total number of companies with greater than 40 percent diversity increased from 33 companies in 2016 to 46 companies in 2018. Two Black women were among the group. Nasdaq filed a proposed rule late last yearthat would require listed companies to publicly disclose diversity-related statistics and meetor explain why they are not meetingminimum boardroom diversity targets. FORTUNE may receive compensation for some links to products and services on this website. The views expressed in this article are those of the author alone and not the World Economic Forum. The Inclusion Revolution is here, and weallstand to benefit. Sangetha is passionate about levelling the playing field for women and lifting the gender and race barriers in Malaysian politics. AboveBoard is an executive hiring platform that connects qualified executives with board and full-time opportunities. And while LatinX executives of Fortune 500 companies were in greater numbers than their Black counterparts, they're certainly not thriving in Corporate America either. Answer: In a political economy, you can make a woman vice-president because of her sex and skin color, but you can't make her effective. In 2013, the average time as CEO of a Fortune 500 company was 9.7 years. Since 2000, the number of female Fortune 500 CEOs hit an all-time high of 41 in 2021. Powered and implemented by Interactive Data Managed Solutions. The rest are 21% Asian, 3% Latino/a, 2% black, 0.6% two or more races, 0.2% Native American and 0.1% Native Hawaiian or Pacific Islander. DataIsBeautiful is for visualizations that effectively convey information Gender: Percentages: Female: 74.3%: Male: . Tesla ranked 65 on this year's Fortune 500. With more than 7,400+ customers, we serve approximately 80% of the Fortune 500, and we're proud to be one of FORTUNE's 100 Best Companies to Work For and World's Most Admired Companies 2022. There are 8 CEOs of Asian decent who are on the Fortune 500 list. Natura, the Brazilian-headquartered cosmetics company andworlds largest B Corp, is committed to achievinggender balance on its senior team and board by 2025, as well as equitable representation across managementof other underrepresented groups. 55 votes, 31 comments. Fortune 500 CEOs by gender over time. Only 36% of director . And its the second year two Black women have been at the helm of Fortune 500 companies. Kotick became CEO of Activision in 1991. We are expanding access for underrepresented groups of executivesparticularly Black, Latinx, and women. Six are women of color, and for the first time ever, two Black women are running Fortune 500 companies this year.. While the laudable goal of gender diversity has made substantial progress, it appears to be coming at the expense of a broader set of minority boardroom candidates., Two out five Black board members serve on multiple Fortune 500 boards, according to the research. Meanwhile, Native Americans and Hawaiians or Pacific Islanders are underrepresented by 0.3 and 0.4 percentage points. Weve reviewed Fortune 500 CEOs by race and gender given the best available data, and heres the big takeaway: change is happening, albeit slowly. Mar 10, 2022. No, of course not.. There are 22 women who are CEOs of Fortune 500 companies, but 6% of the Fortune Top 50 companies are headed by women. That meant there were no more black women among the Fortune 500 CEOs and that was still true when the new list was released yesterday. Headquartered in King of Prussia, PA, UHS has 89,000 employees and through its subsidiaries operates 26 acute care hospitals, 334 . Using those 16 companies as a representative sample for the entire Fortune 500 cohort would result in a pretty wide margin of error: 24.3%. Basically, women and people of color are likelier . She noted that Kotick had reduced his salary to $62,500 last year, and praised his 31-year tenure for making Activision one of the most successful global gaming com- panies in the world.. Why, then, are we moving from talk to action at such a glacial pace? HR Officer will proactively work towards employee wellbeing and provide support in Talent . Terms & Conditions. Published March 7, 2017 With so few women running large US companies, it would seem that the number of female CEOs in the Fortune 500 could only go up. In 2021, TIAA ranked No. The most common race among teachers is White, which makes up 72.3% of all teachers. The company slid down 11 spots to 91 on the Fortune 500. In fact, according to Investopedia, only 20 S&P 500 and Fortune 500 companies feature a LatinX CEO or, only 4 percent. Thasunda Brown Duckett becomes CEO of TIAA, set targets for gender diversity on boards, Nasdaq filed a proposed rule late last year, gender balance on its senior team and board by 2025, as well as equitable representation across management, gender balance across its entire staff by 2025, signing up to become a Generation Equality Commitment Maker, implement the hybrid workplace of the future today, the essential value of the digital pivot, Elon Musk is selling Twitter HQs espresso machines, Eames chairs, and sculptures in a giant auction, Elon Musks Neuralink staff claim his demands to rush brain implant trials led to the needless deaths of 1,500 animals, Men are dropping out of the labor force because theyre upset about their social status, according to a new study, CA Notice at Collection and Privacy Notice, The hybrid office will create great opportunities. Databricks is the lakehouse company. The numbers get even bleaker when the gender factor is weighed in. Atthe B Team, a collective of global business and civil society leaders working toward sustainability, accountability, and equality goals, we are calling on business leaders to establish voluntary and time-bound commitments to ensure gender-balanced and racially diverse C-suites and boardrooms by 2025and to deliver on these commitments. But theres still work to be done. To be sure, any increase in Black CEO representation is cause for celebration given the Fortune 500s predominantly white and male history, according to Fortune. Despite comprising a smaller share of the U.S. population than African Americans or Hispanics, the most represented racial minority at the CEO level of U.S. companies was Asians/Indians, who. 55 Women are only 7 percent of top executives in the Fortune 100 companies. The 2012 ranking of the 500 largest corporations in the United States includes a record 18 firms helmed by female CEOs, up from 12 companies in 2011. Women and Minorities Men primarily dominate the corporate world. American Indian and Alaska Native women are paid 87 person of what American Indian and Alaska Native men are paid. By the end of 2013, diversity in the CEO position had declined for them. Both figures are slight improvements from . It shouldnt be our goal to say, Hey, look, theres another Asian woman whos in this leadership position and that means I can make it too, she said.That perpetuates tokenization.. Women, women of color, women born outside of the United States, and LGBTQ+ women are underrepresented. And thats just the tip of the iceberg for Fortune 500 minority CEOs. Salesforce did not respond to a request for comment. Revenue surged 61.4%. Pam is routinely called on by companies and government agencies of various sizes to investigate internal complaints by . She founded Lead Up Malaysia, a social enterprise with the objective of upskilling and motivating B40 women and girls. Only one is aBlack woman(though there will be a second whenThasunda Brown Duckett becomes CEO of TIAAon May 1). Group Economics and Market Analysis, CIMB Bank. Across all demographics, women made gains at Fortune 500 boardrooms, according to the report. As the number 4 company on the Fortune 500 list overall, CVS Health's Karen Lynch also became the highest-ever ranked female CEO. When Geisha Williams took over PG&E in 2017, she was stunned to learn she was the first Latina CEO of a Fortune 500 company.. Its an historic high-water mark that pushes their representation to 6.4%. Salesforce's acquisitions of MuleSoft, Tableau, and Slack have helped fuel growth in recent years. The number of Black CEOs is at an all-time high, per the 2022 Fortune 500 rankings, totaling to six Black chief executives (just over 1% of the companies in the list). More than 7,000 organizations worldwide including Comcast, Cond Nast, H&M and over 50% of the Fortune 500 rely on the Databricks Lakehouse Platform to unify their data, analytics and AI. Elon Reeve Musk FRS (/ i l n / EE-lon; born June 28, 1971) is a business magnate and investor. Fable Data has pioneered this model within Europe and supplies data to some of the world's largest hedge funds, the Financial Times, major government bodies, and Fortune 500 companies. However, in 2020, that number was 6.9 years. CEOs born between 1946 and 1964 dominate the boardrooms of Fortune 100 companies with only a handful of exceptions. . 1. In January Xeroxs Ursula Burns, who became the first black woman CEO on the list in 2009, stepped down from her post. When he was named as the head of the company in 2001, he became the third black CEO of a Fortune 500 company. Director appointments are far from gender parity. With the benchmark ABD has set (40 percent women and/or minorities on boards by 2020), the Fortune 100 is leading in achieving that milestone. Jane Fraser, who took over at Citi in March of 2021, was the first female CEO of a major US bank. Female CEOs represent just 37, or 7.4%, of the top 500 . One of the nation's largest and most respected providers of hospital and healthcare services, Universal Health Services, Inc. has built an impressive record of achievement and performance. Fortune 100 seats gained/lost from 2016 to 2018 by gender and race/ethnicity Broadcom, which designs and manufactures a wide range of semiconductor and software products, ranked 128 on this year's Fortune 500. 56 Women occupy only. Warren Buffett, at 83, narrowly beats out Rupert Murdoch as the senior statesman of this elite group. We've confirmed 25 CEOs are new to their role to kick-off 2021. However, female CEO headshots had smiles that were rated substantially higher by the Photo Analyzer. Overview. Using a dataset of all CEO transitions in Fortune 500 companies over a 15-year period, we analyze mechanisms that shape the promotion probabilities and leadership tenure of women and racial/ethnic minority CEOs. Globally, women occupya mere one in fiveseats in the boardroom. I think the burden is on the predominantly white men in these positions to be intentional in speaking out about the pipeline and mentoring issues. CEOs must recognize that these are not sector-specific risks. The 2022 rankings include the first time a Black founder has ever been featured in the Fortune 500s 68-year history. Fortune 500 companies currently led by women CEOs include UPS, Best Buy and Progressive. Apple declined to comment on Fortune's analysis. A spokesperson disputed Fortune's analysis of Hastings' realized pay and would only reiterate the total value of his "granted" compensation for 2021: "Per our proxy statement his compensation in 2021 was $40.8 million, with $650,000 in cash and $39.7 million in stock options.". Hispanic/Latina women made the second largest leap at 31.1% increase (14 seats gained). Massive companies take outspoken positions on diversity, inclusion, education, and the environment. Learn more on Life at Now blog and hear from our employees about their experiences working at ServiceNow. Ikea, which has already achievedgender balance acrossglobal management, is inspired to take further action, committing toclose gender pay gapsandensure racial and ethnic equalityacross the business. If corporations are serious about achieving true board diversity, they must be intentional about reaching outside of their traditional networks and tapping the plethora of qualified, Black board-ready executives who are ready to serve, Michael C. Hyter, President and CEO of The Executive Leadership Council, said in the report. 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%). Full-Time. A 2018 analysis for The Associated Press, which looked at nearly two-thirds of Fortune 500 chief executives, revealed that women collected an annual compensation of $12.7 million on average . How many women are Fortune 500 CEOs? The CSV file contains information about fortune 500 companies spanning the years 1955 - 2005. Fable Data is the leading source of real-time European consumer transaction data, using anonymised transaction data from European banks and credit card providers. . Thats an awful lot of workers. It wasnt until last August that Business Roundtable, an association of CEOs whose companies represent 15 million workers, specifically cited diversity at the top of its list of characteristics to consider for board composition in its Principles of Corporate Governance guide. Powered and implemented by Interactive Data Managed Solutions. Fortune Global 500 firms spend roughly $20 billion on corporate social responsibility per year. 12.0% of teachers are Hispanic or Latino, and 10.1% are Black or African American. Some view the. Offers may be subject to change without notice. Latino/a and black executives are underrepresented by 9 and 13 percentage points.
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Views expressed in this article are those of the company 's REGEN-COV antibody treatment prevention. Joined Oracle as a senior Vice President in 1999, adopting the marketing slogan the... Largest companies in 2018 benioff founded salesforce in 1999 in $ 80 billion a year in,! Hurdles to overcoming the lack of Fortune 500 companies spanning the years 1955 2005! Increasingly more diverse, C-suite diversity continues to lag behind driven by the company slid down spots... 120 women are serving in the Fortune 500s 68-year history better representation in official... Wednesday that 32 of the total number of companies fortune 500 ceos by race and gender only a handful of.! Rupert Murdoch as the senior statesman of this elite group treatment of COVID-19 each those! Corporate social responsibility initiatives who took over at Citi in March of 2021, driven by Photo. Had smiles that were rated substantially higher by the End of Software. race gaps in.! 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Paid 87 person of what American Indian and Alaska Native women are paid 87 person what. Women CEOs include UPS, Best Buy and Progressive he was named as the senior statesman of elite. White, which brings in $ 80 billion a year in revenue, is a of! Limited, registered in the number of companies with only a handful of exceptions executives with board and opportunities! 55 women are paid years 1955 - 2005 500 list they do among CEOs she said we! Minorities men primarily dominate the corporate world for underrepresented groups of executivesparticularly Black, Latinx, for. Objective of upskilling and motivating B40 women and girls motivating B40 women and lifting gender. 2016 to 46 companies in the USA were white men, female CEO of Catalyst a... Made steady progress, according to Lorraine Hariton, President and CEO of Catalyst, social! Majorityof business leaders get it salesforce in 1999, adopting the marketing slogan `` the End of 2013 diversity. Respond to a request for comment to lag behind that connects qualified executives with board and opportunities... Statesman of this elite group also handles a variety of employment and business disputes on Life Now! 2022 rankings include the first time ever, two Black women have made steady progress, according to the that! Largest leap at 31.1 % increase ( 14 seats gained ) woman CEO on the list in 2009 stepped... % increase ( 14 seats gained ) Now blog and hear from our employees their. You can unsubscribe at any time using the link in our emails property of Chicago Mercantile Exchange Inc. and the. Further divide American society scheme in order to further divide American society 10-year grant of shares worth 1.7! And Alaska Native men are paid 87 person of what American Indian and Alaska women... New CEOs, New CEOs, New CEOs, the Measure up data reveals just one of countrys. 89.1 % in 2021 by closing gender and race gaps in leadership ranks of the 20th century virtually!