Black CEOs of Fortune 500 Companies
The "Fortune 500" is a list of the 500 largest companies in the United States as compiled by Fortune magazine and published annually since 1955. Only 22 Black executives have ever made it to the Chairman or Chief Executive Officers position of a "Fortune 500" listed company. Of these 22 executives, there are currently 5 active CEO's, representing less than 1% of the Fortune 500 top leadership.
Frank Clyburn became the the most resent and the 22nd Black person to hold the top spot of a Fortune 500 Company, when he took the reins of International Flavors & Fragrances Inc., as CEO on February 14, 2022.
In 1987, Dr. Clifton R. Wharton, Jr. became Chairman and CEO of TIAA-CREF — distinguishing him as the first Black CEO of a Fortune 500 company.
Franklin Raines was the second Black person to lead a "Fortune 500" company, when he became CEO of Fannie Mae in 1999.
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Black Female CEO's of the Fortune 500
On the 2022 FORTUNE 500 list, 44 companies were led by women CEOs, which is an all-time high but only four Black women have ever led a Fortune 500 company. On July 1, 2009, Ursula Burns became the first Black woman to head a Fortune 500 company. Ms. Burns stepped down as the CEO of Xerox in late 2016, following the completion of the separation of Xerox into two independent, publicly-traded companies. She served as chairman of the board of the post-separation Document Technology company from 2010 to 2017.
Mary A. Winston was the second Black Woman to lead a Fortune 500 company. She served as the interim CEO of Bed Bath & Beyond between May and November 2019.
Walgreens Boots Alliance, Inc. (Nasdaq: WBA) announced on January 26, 2021 the appointment of Rosalind (Roz) Brewer as the company’s Chief Executive Officer, effective on March 15, 2021. Ms. Brewer became the third female Black American to lead a Fortune 500 company.
Thasunda Brown Duckett become the fourth Black Woman to head a "Fortune 500" company, on May 1, 2021, when she succeeded Roger Ferguson, who announced his retirement from TIAA in November 2020, after a 13-year run as CEO.
It's a Shinking Club
Black executive representation in the C-suite of America's largest companies has been on the decline. Kenneth C. Frazier is currently Executive Chairman of Merck’s board of directors, a role he began in July 2021, following his retirement from a decade-long tenure as Merck’s President and Chief Executive Officer. Marvin Ellison, who served as chairman and CEO of J.C. Penney for nearly three years and helped to revive the struggling department store chain, left the company in May 2018, to become head of Lowe’s. Kenneth Chenault stepped down as Chairman and Chief Executive Officer of American Express at the end of January 2018. He was the fourth Black CEOs to have retired over the last three years. Ursula Burns left her post as head of Xerox in 2016 when the company split in two, and Rodney O'Neal retired from his role as CEO and president of Delphi in 2015. Don Thompson retired as CEO of McDonald's in 2015, as well.
Black Owned Fortune 500 Companies
There are currently no Black American majority owned company listed on the Fortune 500. On the 2022 rankings each company on the Fortune 500 list reported at least $5.6 billion in revenues. However, World Wide Technology, a global IT company and the largest American Black-owned business founded by David L. Steward, had ~ $12 billion in annual revenue in 2020 according to Black Enterprise magazine. According to 2021 U.S. Cencus Bureau, the are 134, 567 Black owned business with $133.7 billion in annual receipts, 1.3 million employees and ~ $40.5 billion in annual payroll.
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Current Black Fortune 500 CEOs
Frank Clyburn
Created by BlackEntrepreneurProfile.comOccupation: Businessman;
Position: CEO, member of the Board;
Company: International Flavors & Fragrances Inc.;
Industry: Specialty Chemicals; …
Marvin Ellison
Created by BlackEntrepreneurProfile.comBorn: Brownsville, Tennessee, USA;
Occupation: Businessman;
Position: President and CEO;
Company: Lowe's Companies, Inc.;
Industry: Retail; …
René F. Jones
Created by BlackEntrepreneurProfile.comBorn: c. 1966, Ayer, Massachusetts;
Occupation: Businessman;
Position: Chairman and Chief Executive Officer;
Company: M&T Bank;
Industry:…
Rosalind G. Brewer
Created by BlackEntrepreneurProfile.comRosalind Brewer is Chief Executive Officer (CEO), Walgreens Boots Alliance, Inc., since March 15, 2021. She is one of the most powerful women in…
Thasunda Brown Duckett
Created by BlackEntrepreneurProfile.comBorn: July 22, 1973, Rochester, New York;
Occupation: Businesswoman;
Position: President, CEO;
Company: Teachers Insurance and Annuity…
Former Black Fortune 500 Chairman & CEO's
Aylwin Lewis
Created by BlackEntrepreneurProfile.comBorn: May 28, 1954, Houston, TX.;
Position: Former CEO and President;
Company: Potbelly Sandwich Works;
Industry: Food Services;
Country: United…
Clarence Otis, Jr.
Created by BlackEntrepreneurProfile.comClarence Otis, Jr., served as Chairman of the Board from November 2005 and Chief Executive Officer from November 2004 to October 14, 2014, of Darden…
Clifton R. Wharton Jr.
Created by BlackEntrepreneurProfile.comBorn: September 13, 1926, Boston, MA;
Position: former chairman, CEO;
Company: TIAA-CREF;
Industry: Insurance;
Country: United States
Don Thompson
Created by BlackEntrepreneurProfile.comBorn: March 30, 1963, Chicago, IL.;
Company: Cleveland Avenue, LLC;
Position: Founder, CEO;
Industry: Venture Capital & Private Equity;
Country:…
Franklin Delano Raines
Created by BlackEntrepreneurProfile.comBorn: January 14, 1949, Seattle, Washington
Company: Revolution LLC
Position: Director
Industry: Financial Services
Country: United States
Jide J. Zeitlin
Created by BlackEntrepreneurProfile.comBorn: c. 1964, Ibadan, Nigeria;
Occupation: Businessman;
Position: former Chairman, CEO;
Company: Tapestry, Inc. ;
Industry: Apparel,…
John W. Thompson
Created by BlackEntrepreneurProfile.comBorn: April 24, 1949, in Fort Dix, New Jersey
Position: Venture Partner;
Company: Lightspeed Venture Partners;
Industry: Technology, Financial…
Kenneth C. Frazier
Created by BlackEntrepreneurProfile.comBorn: December 17, 1954, Philadelphia, Pennsylvania;
Occupation: Businessman;
Position: Executive Chairman;
Company: Merck & Co., Inc.; …
Kenneth I. Chenault
Created by BlackEntrepreneurProfile.comBorn: June 2, 1951, New York, New York;
Company: General Catalyst Partners;
Position: Chairman, managing director;
Industry: Venture capital; …
Lloyd D. Ward
Created by BlackEntrepreneurProfile.comCompany: CleanTech Solutions Worldwide, LLC,
Position: Chairman and CEO,
Industry: Waste Management Services, Food Manufacturing,
Country:…
Mary A. Winston
Created by BlackEntrepreneurProfile.comMary A. Winston, is the Co-Founder and President, WinsCo Enterprises, a consulting firm providing financial, strategic and board advisory services.
S…
Richard Dean Parson
Created by BlackEntrepreneurProfile.comBorn: April 4, 1948, Brooklyn, NY;
Position: Co-founder and Partner;
Company: Imagination Capital;
Industry: Venture Capital;
Country: United…
Rodney O'Neal
Created by BlackEntrepreneurProfile.comBorn: c. 1954
Company: Delphi Corporation
Position: Chief Executive Officer and President
Industry: Automotive
Country: United States
Roger W. Ferguson, Jr.
Created by BlackEntrepreneurProfile.comRoger W. Ferguson, Jr., is the former President and Chief Executive Officer of TIAA-CREF, provider of retirement services in the academic, research,…
Ronald A. Williams
Created by BlackEntrepreneurProfile.comBorn: 1949, Chicago, Illinois, United States
Company: RW2 Enterprises
Position: Chairman and CEO
Industry: Health Care
Country: United States
Stanley O'Neal
Created by BlackEntrepreneurProfile.comBorn: Oct. 7, 1951, Roanoke, Ala.
Company: Alcoa Inc.
Position: Director
Industry: Financial Services
Country: United States
Ursula M. Burns
Created by BlackEntrepreneurProfile.comBorn: New York, New York, September 20, 1958;
Occupation: Businesswoman;
Position: former Chairwoman, CEO;
Company: VEON;
Industry:…