Bloomberg. Read the fourth installment in the series: The Empathetic Leader. Only one is aBlack woman(though there will be a second whenThasunda Brown Duckett becomes CEO of TIAAon May 1). On the other hand, the US has always been about providing fair wages for a days work. 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. on two sectors: "Media and Technology", updated 1 reason HR managers gave for the lack of diversity in executive roles was "not having enough diverse leadership talent in the pipeline." Which topics are covered by the "Chart of the Day"? Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Hes quoted in the Wharton article saying that just the mere presence of blacks in the CEO or chairman positions have an impact. The Global 500 includes Unilever under the heading "Britain/Netherlands", as the company is counted in the tally for both countries. internet, telecommunications and consumer electronics Its free college tuition and books for any associate at Walmartdonating a billion dollars a year from the Walmart Foundation to local communities.getting to zero waste by 2025 And by 2030, project gigaton is removing a gigaton of emissions with the help of our suppliers And then, finally, 100% renewable by 2035., No small ambition for the Fortune 500s number one company, and an example of stakeholder capitalism in action. Black and Indigenous people and other people of color (BIPOC) make up 31 percent of front-line workers, but only 17 percent of the C-suite. When it comes to ethics, story after story that comes out of the Fortune 500 company list shows why people are right to question the ethics of the CEOs. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Can I integrate infographics into my blog or website? When he was named as the head of the company in 2001, he became the third black CEO of a Fortune 500 company. We suspect the earlier retirements are being driven by a combination of the growing demands of the CFO role, recent wealth creation and a rise in the number of opportunities for CFOs to serve on outside boards. 43% of them say the work in fear daily. Yet they are consistently on the top of the Fortune 500 list, showing that intelligence and strategy will win over popularity and political opinions in the current business climate. 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%. world relating to economic and political issues as well as He may have ethically taken responsibility by stepping down from the job, but he shifted the blame for the situation to a lower level employee. BY Paige McGlauflin May 23, 2022, 4:00 AM PDT In the wake of racial protests following the murder of George Floyd, companies pledged to increase diversity within their executive ranks and. With white men, who typically vote Republican, leading the way in the best companies as a large majority, the politics of business definitely belong to the GOP. Every business will be affected. Women make up 56 percent of front-line employees butonly 29 percent of the C-suite, according to the Gartner 2021 Leadership Progression and Diversity Survey, which queried 3,500 employees across 24 industries on the topic in February 2021. We help you find and develop outstanding leaders, improve team and board performance, and align culture with your strategy. [5], As of August2022[update], 26 (5%) of the Fortune Global 500 companies are located outside East Asia, North America, and Europe. dvelopper et amliorer nos produits et services. industries; and "Economy and Society", which Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRMs permission. In 2021, no CEO or corporate director should need to be convinced of the business case for gender-balanced and racially diverse leadership teams. 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. When the average of all employees salaries are placed against the average CEO salary, the ratio becomes 334:1. As can be seen in Figure 1, the slow increase in "new CEOs", from a total of 19 in 2000 to 71 in 2020, has been accompanied by a corresponding steady decrease in the number of white male CEOs. This would make the estimated average IQ of a Fortune 500 CEO to be 124. [6], The following is the list of top 10 companies. In terms of CEO education level by sector, 65% of Fortune 500 sectors on average have CEOs with MBAs whereas 35% have Bachelors Degrees. Ukraine has accused tech firms SAP and Cloudflare of "still continuing to work in Russia and to pay taxes to help finance the Russian army." Norways sovereign wealth fund, the worlds largest, called on its portfolio companies toset targets for gender diversity on boards. I had a lower level manager create the document and my mistake was not reviewing the information first. Its this shiftiness that makes people not trust leadership. Fortune had previously listed Shell as a British/Dutch company, but as of the 2016 listing it is listed as Dutch. Of these, 89 are Democrats, unchanged since 2019, and 29 are Republicans, up from 13 in the 116th Congress. The Global 500 includes Unilever under the heading "Britain/Netherlands", as the company is counted in the tally for both countries. For the most part, organizations are largely staying within their own industry when selecting a new CFO; just 14% of CFOs came from a different industry. [7], As of August2020[update], just 24 (5%) of the Fortune Global 500 companies are located outside East Asia, North America, and Europe. Fortune 500 women CEOs as of 2021 (47 women) CEO Company Fortune 500 rank . Its an historic high-water mark that pushes their representation to 6.4%. CNBC, Pfizer and BioNTech yesterday reported that their COVID vaccine was both safe and effective for under-5s, and they would apply for FDA and EMA clearance in the coming weeks. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. (The average skyscraper has about 50 floors; the U.S. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Offers may be subject to change without notice. Every business must be ready to respond. The Statista "Chart of the Day" currently focuses If anything though, this study has shown that age and education level . Powered and implemented by Interactive Data Managed Solutions. 2021 revenues rank the pharmacy and healthcare chain as the fourth biggest public business in the U.S., bringing in $268.7 billion. Why, then, are we moving from talk to action at such a glacial pace? Buchanan also attributes the C-suite's renewed attention to diversity and equity in leadership to the demands of a younger generation. non-commercial websites. Methodology. All rights reserved. As a family run organization for years that provided the Walton family with hundreds of billions, they have changed the lives of many with low prices and greater product accessibility. All rights reserved. At 41, Women are still the minority; we'll . Read more. For instance, Apple CEO Tim Cook publicly came out in 2014, revealing his sexual orientation inan open letterpublished in Bloomberg Businessweek. The carmaker with CEO Mary Barra at the helm is now the third-biggest Fortune 500 company led by a women and the 22nd biggest overall. It should have happened a decade earlier," he said. Several of these companies are on a meteoric rise this year, such as electric car manufacturer Tesla, co-founded by current CEO Elon Musk. Many of todays Fortune 500 CEOs are working hard at creating better paying opportunities. [10], The following is the list of top 10 companies.[11][12]. Of note, no Fortune 500 company had a Latina CEO in 2021. The most common primary routes up to the CFO role are controllership (22%), divisional finance (22%) and treasury (13%). Like professional athletes and rock stars, Fortune 500 CEOs have annual incomes in the millions of dollars. The most sophisticated serve as a driving force for the commercial performance of the business and proactively provide the analysis and insight that help frame the companys most important decisions. The disproportionate toll the COVID-19 pandemic has taken on women and people of color is undeniable. All Rights Reserved. The 2020 Black Lives Matter protests in response to the killings of Ahmaud Arbery, Breonna Taylor, George Floyd and other Black Americans once again thrust the issue of racial inequality right in front of executives as companies felt compelled to make statements or, in some cases, donations. Many are married to high-powered executive husbands, but notably, some have reported that their husbands had given up careers to take care of the children. Our annual survey of. All of this is a tall order, requiring a diverse set of leadership capabilities and finance and business experience. The average height of a Fortune 500 CEO is 6 feet. The following are the top-ranked companies in 2018 for each industry. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. "There is a sense that if we're complicit, if we're silent, especially as a white male founder, then not saying anything or not taking any action is a sign that we're stuck in the past.". The percentage of CEOs on the Fortune 500 list who are of Latino decent: 1.6%. Among the Fortune Global 500, 371 companies (74.2%) are from these six countries. Networking events like the one Buchanan attended years ago tend to be assembled based on connections. (You can see the full new Fortune 500 list here, and youcan watch todays livestream from Brainstorm Design here.). Casey said she is using her position to help the retail giant transform to what CEO Doug McMillon calls a regenerative company.What does that mean? For 4 years in a row, AFLAC has been named the most ethical company on the Fortune 500 list. Posted January 2021 In 1963, Katherine Graham took over The Washington Post, the newspaper her father had founded, after her husband committed suicide. A collection of stories, insights and resources on 21st-century business leadershipvisit The New Leadership Playbook, today. On average, there are just 6% of Fortune 500 CEOs year to year that have held some sort of military experience. It also shows that female CEOs are "finding stability and staying power atop Fortune 500 companies," writes Emma Hinchliffe. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. TIAAs (then TIAA-CREF) Dr. Clifton R. Wharton, Jr. was the first in 1987. The trend carried on into the pandemic, with one report finding that 11.6% of 3,000 companies surveyed had a CEO change in 2020. CEOs must recognize that these are not sector-specific risks. This made him the first openly gay CEO of a Fortune 500 company. Another 9% of external hires and 6% of all CFOs had previously served as CFO of a private company. CC Attribution Non-Commercial Share Alike, Fortune 500 CEOs, 2000-2020: Still Male, Still White. 2023 Fortune Media IP Limited. Richie Zweigenhaft, Charles A. Dana Professor of Psychology, Emeritus, at Guilford College, is the co-author, with G. William Domhoff, of numerous books about diversity in the power elite, and, more recently, the author ofGEEZERBALL: North Carolina Basketball at its Eldest (Sort of a Memoir). [1], Since 2001, there has been significant change in the geographical distribution of the companies in the Global 500 rankings. Does it mean that there are not any problems in the workplace? 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. And on that point, it would seem the CEO group and Banks agree. It refers not just to women and people of color, but also to people with disabilities, military veterans, and LGBTQ people. The average retirement age in 2016 was 58.2, a decline from 59.8 in 2015 and down from a recent peak of 60.6 in 2011. The average age of a CEO in one of the top Fortune companies: 57. Only 1% of the Fortune 500 CEOs are African Americans, 2.4% are East Asians or South Asians, and 3.4% are Latinx. Its often the case that the demographics of leadership are treated as a death sentence for the upward mobility of minority employees. Since then, this number rose by 5% to 41 as of 2021. Compared to the demographics of the overall employed workforce, Asian and white workers at these 16 companies are overrepresented in senior leadership by 15 and 10 percentage points, respectively. Much has been written about the laws, regulations, employer policies and advocacy groups designed to support DE&I in the workplace. Si vous ne souhaitez pas que nos partenaires et nousmmes utilisions des cookies et vos donnes personnelles pour ces motifs supplmentaires, cliquez sur Refuser tout. That, said Dr. Kira Banks, leaves too many people on the bench when its time to increase corporate diversity and retention. More recently, we have been seeing a trend toward earlier CFO retirements among Fortune 500 companies. [9], As of July2018[update], this is the list of the top 10 countries with the most Global 500 companies.[9]. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: 2022 is seeing a new record of female CEOs at Fortune 500 companies. Hover over each square representing a New CEO for more information. People being transferred between facilities are blindfolded and shackled, even if they are sick. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Terms & Conditions. So there you have it, the average Fortune 500 CEO is a 57 year old American male born in New York and educated at Harvard and holds an MBA. [6], As of August2021[update], this is the list of the top 10 countries with the highest revenues top 500 companies. In a world where wages are static and people have to move jobs in order to make more money, that relationship has more value than one might initially perceive. And it would take at least 26 skyscrapers to give each of those 5,089 executives and senior officials a corner office. His "aha" moment was what started it all. When the Washington Postmade theFortune500 list in 1972, she became the first woman CEO of aFortune 500 company. Please log in as a SHRM member before saving bookmarks. Since 2000, there have been 151 white women and people of color appointed CEOs at Fortune 500 companies. Only 2% of CEOs make a salary that is over $3 million per year. Read the first installment in the series:The Evolution of the Executive. Fortune 500 list. The Statista "Chart of the Day", made available Now in the decade of delivery for sustainability, leaders are focused on translating ideals into action. mesurer votre utilisation de nos sites et applications. The company climbed 35 spots in this years rankings, as the electric vehicle industry continues to grow with Tesla at the head. It takes intelligence to make billion dollar decisions, but isnt it more impressive for a self-made millionaire or billionaire to achieve great success? "I looked at my own company and realized we'd also not been intentional about racial diversity and [gender] equity.". No company on the Fortune 500 list has more than 3 women in a top paid executive position. Women make up just 8% of the top earners on the Fortune 500 list. The percentage of employees who directly witnessed misconduct occurring in their workplace in the last 12 months: 52%. In one month (December 2020), women accounted forevery net reported job lossin the United Stateswith Black and Latina women bearing the overwhelming brunt of these losses. The following are the top-ranked companies in 2019 for each sector. The return-to-office wars could end in a stalemate as we all reach the same conclusion about what the flexible future Salesforce picked one of its own execs to become Slacks CEO. 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. Of those high ranking officials, 80% are men and 72% of those men are white. Therefore, it was not until 1999, when Franklin Raines became CEO of Fannie May and Lloyd Ward became CEO of Maytag that there were African American CEOs ofFortune500 companies. You dont have to be a person of color or a woman or a person from another marginalized identity to be a champion for diversity, she said. This chart shows the number of female CEOs at Fortune 500 companies and female-led Fortune 500 companies with the highest 2021 revenues. Read the second installment in the series: The 'Professional Executive' Emerges. PensionDanmark, a major European labor market pension fund, is committed togender balance across its entire staff by 2025while advocating forresponsible corporate tax practiceand atransition to a net-zero economy. Moreover, since most of the seats lost by white men were lost to white women, and white women make up 6.8% of those who are now CEOs, whites still make up 92.6% of the Fortune 500 CEOs. In the European Union, companies that dont report their gender pay gapscould soon face fines. New CFOs today tend to come to the role with a few more years of work experience than in the past: The average age of the new CFO class of 2016 was 50.7, compared with 46.2 years for the class of 2006. To understand how the profiles of CFOs are changing in response to the demands of the role, Spencer Stuarts annual CFO Index analyzed the turnover, tenure and backgrounds of the CFOs of Fortune 500 companies for the 11-year period from 2006 to 2016. To say that the white male has a domination on the Fortune 500 list is an understatement. When Banks looked at the above diversity data for senior executives at 16 Fortune 500 companies, she was careful to point out that it need not be a depressing reminder that women and people of color and other marginalized groups that arent counted on the EEO-1 Report struggle to make it to the upper echelons of corporate America. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, EU-Lnder mit der besten Platzierung im Gender Equality Index 2022, EU-Lnder mit der schlechtesten Platzierung im Gender Equality Index 2022, Gleichberechtigung in der EU nach dem Gender Equality Index bis 2022, Gleichberechtigung in Schweden nach dem Gender Equality Index bis 2022, Gleichberechtigung in Italien nach dem Gender Equality Index bis 2022, Gleichberechtigung in Polen nach dem Gender Equality Index bis 2022. That might mean self-employment, a career change, or other changes, but accepting poverty wages only continues the problem. Even if only 16 Fortune 500 companies share detailed demographic information about their employees, its important to point out that the data that is available represents the race, gender and job category of more than 800,000 people everyone from the CEO through service staff. Moderna said last month that its vaccine for under-6s was good to go. CEOs do deserve to make higher wages because their experience, leadership, and education is worth something in the free market. Does Statista also create infographics in a customized design? All rights reserved. Please purchase a SHRM membership before saving bookmarks. From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, 47 Interesting Fortune 500 CEO Demographics, 100 Powerful Money Affirmations for Financial Abundance, 125 Positive Affirmations for Success and Prosperity, 125 Powerful Morning Affirmations to Start Your Day, Harley Davidson SWOT Analysis (2021): 27 Strengths, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. Statista offers daily infographics about trending topics, covering:Economy & Finance, Politics & Society, Tech & Media, Health & Environment, Consumer, Sports and many more. SAP says it is heading for an "orderly exit" from Russia, while Cloudflare argues "withdrawal by Internet companies can have the unintended effect of advancing and entrenching the interests of the Russian government to control the internet in Russia." Our standard is 660 pixels, but you can customize how the statistic is displayed to suit your site by setting the width and the display size. The survey shows that the majority58%now say they have a plan to achieve net zero emissions by 2050 or before. He also reflected on how being gay benefited his ability to lead the world's largest company. Leading a Fortune 500 company isnt easy. The new leadership playbook recognizes the need for holistic actionand the degree to which diverse, gender-balanced leadership teams can be a catalyst for these efforts. Korn Ferry also pointed out that too few employees from diverse backgrounds are given the type of managerial jobs early on that would allow them to oversee financial results, such as profit and loss (P&L) benchmarks. FORTUNE may receive compensation for some links to products and services on this website. Consistent with the previous two years, 14% of Fortune 500 CFO positions turned over in 2016. The big picture is that almost 90% of theFortune500 CEOs are still white males. Latino/a and black executives are underrepresented by 9 and 13 percentage points. Whistleblowers are more likely to experience retaliation at a Fortune 500 company than at a business that is not on the list. The route up represents the function or discipline where CFOs spent the longest amount of time in their careers. The CEOs, therefore, unlike the athletes and the rock stars, are part of the power elite. Among the Global 500, 379 companies (75.8%) are from these six countries. That share rose to 86.2 percent in 2020 and was 86 . It brings up an important question: if even a fraction of the money that is spent on politics, say 2%, was actually spent on social needs like feeding the hungry, how much of the world could be changed in an instant? So, with the help of a colleague, Buchanan founded a nonprofit that provides college scholarships to students of color, mentors young professionals from diverse backgrounds and invests in resource groups for LGBTQ workers. The return-to-office wars could end in a stalemate as we all reach the same conclusion about what the flexible future Salesforce picked one of its own execs to become Slacks CEO. Forward-thinking leaders are already showing the way. It also means that the average person has the chance to interact with their companys leadership something that the chain of command in the past may have not allowed. 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. In 2013, the CEO to minimum wage worker payment ration was 774:1. [5], The following is the list of top 10 companies. Its been said that when you are starting out in your career, it makes sense to be a Democrat because youll have your way of life protected. Not only do white males make up a large majority of the CEO demographics, but they are also the best compensated for the job that they are doing. CEO Evan Spiegel: "While our revenue continues to grow year-over-year, it is growing more slowly than we expected at this time." So, its important to point out that the workforce at 16 companies that share data isnt a perfect predictor of the other 484. Those are incredibly important because when an employee feels like they have a relationship with the CEO of their company, then they are more likely to stay at their job for the long term. Calls for more equitable hiring seem to be slowly bearing fruit in the higher echelons of the business world, as the number of female CEOs has risen for the fourth year in a row. To maximize your visibility, we encourage you to register with both Spencer Stuart and BlueSteps. Statistics; Cookie statement; As of November2017[update], this is the list of the top 10 countries with the most Global 500 companies.[13]. As can be seen in Figure 1, the slow increase in new CEOs, from a total of 19 in 2000 to 71 in 2020, has been accompanied by a corresponding steady decrease in the number of white male CEOs. We must disrupt the crisis of conformitywith diversity from top to bottomif we hope to ensure a better way of doing business that values people and planet alongside profit, writes Halla Tomasdottir. Blaming the Fortune 500 CEOs for this inequality is too easy. You have successfully saved this page as a bookmark. Among white women, a particular kind of woman is likely to become a CEO: one who is highly educated, family-oriented, and, especially in recent years, athletic. In the following interactive chart, New CEOs are broken down into Black men, Latino men, Asian men, white women, Black women, Latina women and Asian women. The top-ranked companies in each sector are as follows: List of public corporations by market capitalization, "A New Perspective on the Corporate World", "40% of Fortune 500 companies Asian, India has 7 in list - Times of India ", "Forbes Global 500 list of 2021. For example, Mary Dillon, the CEO of Ulta since 2013, a company that made the Fortune list in 2018 (at #471), is married to a biochemist who quit his job to stay home and take care of their three children. We must disrupt the crisis of conformitywith diversity from top to bottomif we hope to ensure a better way of doing business that values people and planet alongside profit. This suggests that race and fit with dominant elite culture remain considerable barriers to leadership of Fortune 500 companies. 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. Meanwhile, Native Americans and Hawaiians or Pacific Islanders are underrepresented by 0.3 and 0.4 percentage points. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 1000+ markets in 190+ countries & territories, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Finally, the rise of investor activism has heightened boards anxiety about investor relations, which has CEOs and boards prioritizing capital market savvy and IR experience when selecting new CFOs. Fully 28 (or 38%) have MBA degrees, five have JD degrees, and others have masters or PhD degrees. FORTUNE may receive compensation for some links to products and services on this website. All these conversations started to bubble up, especially with this generation that grew up with social media and doesnt have a problem with letting you know how they think. 2023 Fortune Media IP Limited. Now shes patching up a $27.7 billion marriage, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. 82% of customers say that they are more likely to trust a company when the CEO and the companys leadership are accessible and active on a social network. [5], These are the top 10 countries with the highest revenues from the top 500 companies as of August 2022. Sign up for theFortune Features email list so you dont miss our biggest features, exclusive interviews, and investigations. He reached out to some 100 executives he knows in the area and won commitments from them to support his nonprofits by providing internships and mentorship to a diverse candidate pool. . The #MeToo movement gave women a platform to speak up about top executives' sexual advances and the way leadership doors either closed or opened for them as a result. However, it seems likely that women at Fortune 500 companies see better representation in senior official roles than they do among CEOs. The steps he's taken to include more women; Black and Indigenous people and other people of color; and LGBTQ people in top leadership roles throughout the Portland area reveal that achieving diversity in the C-suite requires change on several levels. Chief executive tenures have been becoming shorter in recent years. Home Statistics 47 Interesting Fortune 500 CEO Demographics. current data from the United States and around the Speaking of the 500, Ellen McGirt and I had a fun conversation with Edward Jones CEO Penny Penningtonone of a record 44 female CEOs on the list this yearfor this weeks episode of our Leadership Next podcast. People who represent two or more races are three times as common in the overall workforce as they are in senior executive roles. please include a backlink to the respective infographic URL. Although 28% of sitting CFOs sit on a corporate board which could include their own companys board only 7% serve on an outside Fortune 500 company board. Apple CEO Tim Cook is the only openly gay CEO on the Fortune 500 list. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Our infographics team prepares current information in a clear and understandable format, Relevant facts covering media, economy, e-commerce, and FMCG topics, Use our newsletter overview to manage the topics that you have subscribed to. Mark Zuckerberg Company: Meta (formerly known as Facebook) Fortune 500 rank: 27. Offers may be subject to change without notice. On the operational front, CFOs increasingly serve as quasi-COOs, working with each business to help optimize pricing and define P&L investment plans. Members may download one copy of our sample forms and templates for your personal use within your organization. More Fortune 500 CEOs use LinkedIn as their primary social network of choice [47%] than Facebook [45%] or Google Plus [12%]. Profile of the Fortune 500 CFO today and in the future June 2017 Chief financial officers increasingly are called on to be operational experts, strategic partners to the CEO and the voice of the investors in their organizations. 1 out of every 2 Fortune 500 CEOs states that they are a Republican. [6], As of August2021[update], just 21 (4%) of the Fortune Global 500 companies are located outside East Asia, North America, and Europe. The best part about social media, like it or not, is that it makes the private lives of people a little more public. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. These 72 well-educated white women include many who have degrees from Ivy League schools, as well as many who attended the flagship state schools where they grew up. After all, they didnt have the support of a massive corporation in order to make their money. snapshot of executives sitting in the CFO seat as of December 31 of their respective year. 1 out of every 2 people say that it is very important for Fortune 500 CEOs to engage on social media, but only 5% see it as a mission critical component of the job. Only 3 out of every 4 Fortune 500 employees states that they would report the misconduct when they saw it. This has a few benefits, as the statistics show, but it also helps to build relationships. The share of European-based companies also declined, from 158 to 143, over the same period. Please enable scripts and reload this page. The list also includes six companies with Black CEOs, which means a return to the record level set in 2012and for the first time, a Black founder (Compass's Robert Reffkin) is on the list. They are the best of the best at what they are able to do and provide a lot of opportunities to the world. Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. Fortune. Only 7% of Fortune 500 CEOs say that they are motivated by fear. All of these developments stirred an awakening in company leaders, said Travis Foster, chief legal officer at WorkShield, which provides companies with third-party investigations of harassment and discrimination complaints. Powered and implemented by Interactive Data Managed Solutions. When organizations do look outside the company for their next CFO, they are more likely to insist on a proven CFO. Please log in as a SHRM member. Clorox just named Linda Rendle as its new chief executive, bringing the number of women CEOs on the Fortune 500 list to 38 a new record that underscores the slow pace of change at the highest . "All these conversations started to bubble up, especially with this generation that grew up with social media and doesn't have a problem with letting you know how they think. [2][3][4], The following is the list of top 10 companies in 2022. This year, CEOs have a key opportunity to take bold action in line with this new playbook: theGenerationEqualityForum. The last three years have also seen little change in Fortune 500 CEO demographics. Now shes patching up a $27.7 billion marriage, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. 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. But when it comes to DE&I in the C-suitethose top four or five jobs that tend to have the most influence and earn the most moneymany of the faces look the same: While progress has been made since 1972, when Katharine Graham of The Washington Post became the first Fortune 500 CEO who was not a white man, the overwhelming majority of CEOs at Fortune 500 firms in 2021 remain white men. When looking at the last roles CFOs held before becoming CFO, divisional finance, controller, CFO and treasurer positions were the most common. The CEOs of those Fortune 500 companies are also an interesting set of people and their demographics hold some surprising information. 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.. Ideally, organizations also are exposing potential successors to investors and the analyst community, which is critical experience in light of the growing focus on investor relations skill. Similarly, the representation of ethnically diverse CFOs has doubled since 2006 to 6.4%. Boris Bondarev said the invasion was "not only a crime against the Ukrainian people, but also, perhaps, the most serious crime against the people of Russia, with a bold letter Z crossing out all hopes and prospects for a prosperous free society in our country." Still, the white men, who make up about 35% of the population, continue to be very much over-represented, and the gap between them and the new CEOs is still immense. The number of Fortune 500 CEOs who dont have an advanced degree of any kind on their resume: 163. At the time the article was published, American Expresss first black CEO, Kenneth Chenault, was 5 years into his now 16-year tenure. The most common form of misconduct seen was bribery, accounting for 70% of the total incidents that were reported at Fortune 500 companies. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices The average age of the founder-turned-500 CEO was 54 years, with some as young as 37 and others as senior as 74. The Fortune 500 list of companies is a true measurement of success. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. The percentage of women who are Fortune 500 CEOs with an IQ of 128 or higher: 59%. Since 1995, the list has had its current form, listing also top financial corporations and service providers by revenue. Only one is a Black woman (though there will be a second when Thasunda Brown Duckett becomes CEO of TIAA on May 1).. White men are also the most inclined to treat business like a good old boys club and only hire family, friends, or close associates. Americas national beer could soon be Mexican as Memorial Day weekend sales drop plunges Bud Light further into crisis. It includes photos of Uyghur detaineesas young as 15and of heavily armed strike units who, leaked documents suggest, are told to use their weapons if someone tries to escape. The U.K. has already expressed its outrage, with Foreign Secretary Liz Truss saying her country remains "committed to holding China to account." Jane Fraser, who took over at Citi in March of 2021, was the first female CEO of a major U.S. bank. Alan Murray@alansmurrayalan.murray@fortune.com, Evidence obtained via a hack of a Xinjiang "re-education" camp has been released. Some 72% said CEOS have recently gotten too involved in commenting on social and political issues, and need to pull back, while only 28% said CEOs have a responsibility to speak out on important social and political issues, and should continue to do so.Last year, the exact same question revealed a 50-50 split. Moreover, the top six (United States, China, Japan, France, Germany, and the United Kingdom) are some of the world's largest economies as estimated by the IMF (List of countries by GDP (nominal)). It is estimated that about 40% of the Fortune 500 CEOs have an IQ that is in the talented and gifted range, or an IQ that is about 128. The return-to-office wars could end in a stalemate as we all reach the same conclusion about what the flexible future Salesforce picked one of its own execs to become Slacks CEO. Equal Employment Opportunity Commission fully explains which job titles get the executive/senior officials and managers designation in a footnote here.). Those conversations sort of crescendoed and became front and center and leaders had to hit pause.". Judith Marks is the CEO of Otis Elevator, which was spun off United Technologies in early 2020, making the list for the first time as its own business this year. Most of this emergent group is made up of white women, who held the top posts at 34 Fortune 500 companies last year, including the fourth and sixth largestCVS Health and General Motors, respectively. Women and minorities, on the other hand, are more likely to reach out an olive branch to others. The Fortune Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The latest Fortune 500 CEO survey does not show a lot of optimism BY Alan Murray and David Meyer May 24, 2022, 2:44 AM PDT Updated May 24, 2022, 4:07 AM PDT Good morning. In my role as CEO of the B Team, I am proud to partner with companies that acknowledge their 21st-century responsibilities as corporate citizensand act accordingly. CFOs are both more likely to be promoted from within than in the past and, when hired from outside the company, more likely to have prior experience as a CFO. The following is the global 500 list sorted by profits. Add to all of this the fact that Generation Z employees now coming into the workplace tend to be especially passionate and vocal about inclusiveness and fair treatment. Since then, this number rose by 4% to 41 as of 2021. Until 1989, it listed only non-United States industrial corporations under the title "International 500" while the Fortune 500 contained and still contains exclusively United States corporations. Offers may be subject to change without notice. Women make up just 8% of the top earners on the Fortune 500 list. While still low, this represents a meaningful increase in female representation since 2006, when 6.8% of CFOs were women. Everyone stands to benefit from a more diverse and equitable worldespecially business. Our annual survey of Fortune 500 CEOs is out this morning, and shows they have become a dour lot. Six S&P 500 and Fortune 500 companies had Black CEOs in 2021; 40 had Asian American CEOs; and Latinx/Hispanic executives led 20. In 2020, 7 of the 10 new appointments were white women. Statistics; Cookie statement; Toggle limited content width . Have they also deflated wages in the communities where they have a presence? Please confirm that you want to proceed with deleting bookmark. And another 31% are working on a plan. Nearly90% of Fortune 500 CEOs are white men,a staggering figure. Here are the 21 founders-turned-CEOs on this year's Fortune 500. We've built a reputation for delivering real impact for our clients from the worlds largest companies to startups to nonprofits. 9 out of 10 women who serve on the board of a Fortune 500 company state that theyve had to overcome an obstacle that was related to their gender in order to achieve success. But now, 20 years later, the new CEOs are not so new, and there are enough of them that it is possible to step back and look at the patterns that have emerged over these two decades. Only 13% of first-year CFOs in 2016 serve on a corporate board. We also are seeing an increase in investor relations, investment banking and corporate development as routes to the CFO role. 78% of professionals say that they prefer to work for a Fortune 500 CEO who is active on social networking sites. Politico, A Russian diplomat at the United Nations has quit, saying: "Never have I been so ashamed of my country as on February 24 this year." The last three years have also seen little change in Fortune 500 CEO demographics. 2023 Fortune Media IP Limited. A graduate of famed military school the Citadel . And at companies that discourage remote workespecially for executivestrying to find a diverse candidate for an executive role in Salt Lake City, versus Washington,D.C., is much harder because ofSalt Lake City's demographics, said Brian Breinholt, CHRO for Sorenson Communications LLC, a Salt Lake City-based company that provides communication devices for people with hearing disabilities. Yet, the new high still only translates to around 15 percent female representation at the top of the country's biggest public businesses. The Inclusion Revolution is here, and weallstand to benefit. "You had this explosion of social issues that were now very important to the younger employee population," Foster said. Numbers for some groups have increased (such as white women and South Asians), but the numbers for those in other groups (such as African Americans, Mexican Americans, and East Asians) have remained stagnant or decreased. Adjectives traditionally used to describe a successful executivesuch as aggressive, assertive, and take-chargeare typically associated with men. The system became broken and wages have been static for a lot of workers for more than a decade, which is absolutely a problem. On June 3, 2011, the Atlanta Business Chronicle stated examples of Fortune including regional headquarters for some cities, excluding regional headquarters for other cities and in some cases excluding headquarters that are physically located inside a city limit. Just as countries, businesses, cities, universities, and others have rallied behind the Paris climate agreement, this moment marks their opportunity to do the same for gender. As of March, there were 74 female CEOs employed at America's 500 highest-grossing companies, up from 41 in June of 2021 and only 7 in 2002. In 1986, Gerald Tsai, a Chinese American, became the CEO of American Can. companies for the 11 year period from 2006-2016. Global GDP could suffer$1 trillion in losses by 2030if nothing is done to address the pandemics regressive effects on womens employment alone. Back in 1963, when her husband committed suicide, Katherine Graham took overThe Washington Post, the newspaper her father had founded. 81% of employees believe that Fortune 500 CEOs who are on a social network are more equipped to take a company into the modern world. Need infographics, animated videos, presentations, data research or social media charts? That share rose to 86.2 percent in 2020 and was 86 percent in 2021. The episode also seemed to hit tech peers including Meta (-7%), Twitter (-4%), and Pinterest (-12%). On average, they also expect inflation to remain (slightly) over 5% next year. Brian Armstrongs cryptocurrency exchange Coinbase became the first crypto company to break into the list this year, despite virtual currencys rough start to 2022 creating some serious headaches for Armstrongs company. To continue enjoying cutting-edge information and exclusive resources for HR leaders: Barriers to DE&I in the C-Suite Are Systemic, How One Executive Is Building More-Diverse C-Suites, but the CEO job is still dominated by men, not having enough diverse leadership talent in the pipeline. CEOs must meet this moment by closing gender and race gaps in leadership. BuchananCEO of digital marketing agency Thesisco-founded two nonprofits that provide college scholarships to students from underrepresented backgrounds. Although Clifton Wharton was the CEO of TIAA from 1987-1992, TIAA did not make theFortune list until 1998 when he no longer was CEO. Half of Fortune 500 CFOs have been in the role two to five years; the longest serving CFO has been in the role for 33 years. In 2016, 65% of externally hired CFOs compared with 25% of all CFOs had prior public company CFO experience. His response to the inquiry? Terms & Conditions. All Rights Reserved. They are bringing potential successors into the boardroom earlier and more often to interact with the directors. Those conversations sort of crescendoed and became front and center. Thats why Walmart, which may be one of the biggest corporate heels in the world, still commands a lot of respect. All Rights Reserved. You can listen on Apple or Spotify. That was the whole purpose behind the minimum wage, yet the minimum wage has not kept up with inflation or productivity since its inception. All of that filters downhill so that the main people who receive the consequences are the front line employees. As for his own company, 42 percent of his 260 employees are now people of color, while 61 percent are women. He decided to step down after 4 months on the job because his C/V had false information on it. Meanwhile, average CFO tenure has remained relatively flat over the years, ranging from a low of 5 years in 2009 to 6 years in 2012. Which makes the founders-turned-CEOs of this years list stand out even more by bucking the trend and sticking with their companies through the good and bad times, sometimes for decades. The following are the top-ranked companies in 2020 for each sector. Several years ago, Ryan Buchanan attended an event with about 90 business executives in the Portland, Ore., area where his company is based, and had what he calls an "aha" moment. 50% of those who are making minimum wage are above the age of 25. The wage gap for women at the top rungs of the Fortune 500 ladder: 18%. and displayed without charge by all commercial and There are 8 CEOs of Asian decent who are on the Fortune 500 list. This has created an opening for current and retired CFOs, particularly for boards looking for financial experts for the audit committee. In 1999 he was followed by Fannie Maes Franklin Raines, who was eventually ousted after the 2008 mortgage crisis. Companies with a deep bench of finance talent tend to develop their top performers by rotation through diverse finance assignments and board exposure. And not just to hiring, promoting and pay equity, but also to ensuring workplaces treat all employees fairlywhich includes eradicating harassment and discrimination. Use is, however, only permitted with This really isnt an us vs them type of conversation, but the demographics of pay cant be ignored. Only 5% of people in a recent survey stated that they didnt see any benefits to a social networking presence for a Fortune 500 CEO. David Rawlinson. sports and entertainment. Sixty-nine percent of Fortune 500 CFOs in 2016 were internal successors, building on the longer-term trend toward grooming internal successors. Another metric that helps reveal the long-term patterns is the number of newFortune 500 CEOs appointed each year (as opposed to the number who were in office in a given year). 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. The barriers to DE&I in executive circles are those one might expect: Promotions and hiring decisions are often based on relationships and "identity bias"the sense that the more that colleagues are "like me," the better they'll fit in. 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. Nous, Yahoo, faisons partie de la famille de marques Yahoo. The wage gap for women at the top rungs of the Fortune 500 ladder: 18%. The top reason HR managers gave for this lack of diversity in leadership roles was "not having enough diverse leadership talent in the pipeline," reported Gartner, whose researchers also interviewed more than 100 corporate HR leaders. In addition, the past year has opened more eyes to theclimate crisis,heightened inequality,andfailures of governancein emergency responseall of which hit societys most marginalized the hardest while elevating risk for business and governments alike. Even though they tend to look in all the same places for talent, according to Gartner, the No. In 1990, United States companies were added to compile a truly global list of top industrial corporations as ranked by sales. And dont just take my word for it. Women now represents slightly less than 13% of Fortune 500 CFOs. The list is compiled and published annually by Fortune magazine. Feel free to contact us anytime using our contact form or visit our FAQ page. FORTUNE may receive compensation for some links to products and services on this website. Chief financial officers increasingly are called on to be operational experts, strategic partners to the CEO and the voice of the investors in their organizations. We like to focus on money, but the statistics in these demographics show that business leaders are motivated by the fear of losing their company, their reputation, and the jobs that they have helped to create more than anything else. This edition of CEO Daily was edited by David Meyer. "I was part of the problem because I hadn't been intentional about building relationships with entrepreneurs of color," Buchanan said. Seventy-three percent of the senior executives, men and women, are white. Unlike professional athletes and rock stars, however, Fortune 500 CEOs oversee corporations that provide jobs for many thousands of employees and they and their companies have a major impact on the U. S. economy. Is such a lack of diversity in these demographics showing that the world really does have a racial and gender preference? In the 11 years from 2006 to 2016, 61% of the 805 CFO transitions went to internal candidates. 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. But these 21 current CEOs are living proof that it isnt impossible. You may be trying to access this site from a secured browser on the server. Dcouvrez comment nous utilisons vos donnes personnelles dans notre Politique de confidentialit et notre Politique relative aux cookies. There are 22 women who are CEOs of Fortune 500 companies, but 6% of the Fortune Top 50 companies are headed by women. Marketing, Sales & Communications Officer. Theres lots of evidence, statistical and otherwise, that corporations struggle most with increasing diversity among their top leadership. No company on the Fortune 500 list has more than 3 women in a top paid executive position. 2 out of every 3 Fortune 500 CEOs were appointed to the position internally after having worked for the company for some period of time. The top 4 schools where Fortune 500 CEOs attended for undergraduate studies are all Ivy League schools: Harvard, Cornell, Princeton, and Yale in that order. 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 the current state of around 1.2%." Women in the Fortune 500 Fortune 500 diversity for women is also at a record high. 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, Americas national beer could soon be Mexican as Memorial Day weekend sales drop plunges Bud Light further into crisis. Senior executive roles days work 13 % of those who are of Latino decent: 1.6 % mobility minority. 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