As CEO, she led the largest Xerox acquisition of a company when they paid $6.4 billion to acquire Affiliated Computer Services. The good news is, things are starting to look up (albeit ever so slowly). She was later appointed as vice chair of the President's Export Council, a role she held from 2015 to 2016. Although she attended Spelman to study chemistry, she shifted gears and turned away from pursuing medicine. Deutsch. The daughter of a single mother from Panama, Burns went to . All Rights Reserved. Culture encompasses the unwritten norms of the group. This is a list of Women CEOs of the Fortune 500, based on the magazine's 2022 list (updated yearly). Black executive representation in the C-suite of America's largest companies has been on the decline. My entire goal was to make money to help out my mother, but I would have left school with more debt than I could have paid off before her death.. - Ursula Burns. Her post-graduate career began in 1980 at Xerox as a summer intern, and the rest would become her mark on the business world. That mindset, Burns says, sometimes prompted negative feedback from other parents but it worked for her. On March 15th, 2021, Rosalind Brewer became the CEO of Walgreens, making her the only Black female CEO of a Fortune 500 company at this current time. And she credits her career success to the strategy. In 2009, Ursula M. Burns earned a promotion at Xerox and became the first Black female CEO of a Fortune 500 company. In 2007, there were seven black CEOs heading Fortune 500 companies. It does not escape me that I am standing on the shoulders of giants, including the cooks and janitors and others who look like me and were first to enter corporate America, Brown Duckett told ABC News. She would then work numerous government jobs that include the U.S. Department of Housing and Urban Development. On March 15, 2021, Rosalind Brewer became the first Black woman to be the CEO of Walgreens Boots Alliance a Fortune 500 company. The 67th edition of Fortune 500 features Rosalind Brewer, the CEO of Walgreens Boots Alliance, and Thasunda Brown Duckett, the CEO of TIAA. It would make her the first Black woman to be the CEO of a Fortune 500 company, a position she held until 2016. Derek Major March 15, 2022 2350. Ursula Burns was the first Black woman to lead a Fortune 500 company when she became the CEO of Xerox in 2009. She also became the first woman to succeed another woman as head of a Fortune 500company. She grew up on the Lower East Side of Manhattan in the Baruch Houses, a New York City housing project. Go away and figure out how to reduce the costs without throwing away our future. English. She credits the collective approach to her ability to lead Xerox while simultaneously having multiple kids in the house. She has a daughter Melissa (born c. 1992) and a stepson Malcolm from Lloyds previous marriage (born c. 1989). As of March 2022, she is one of two Black women CEOs currently leading Fortune 500 companies. The pressure of "having it all" is still alive and well: Many working mothers bear a heavier burden when it comes to balancing their careers and family. Today, there are five Black CEOs in the Fortune 500. Women still only make up 8.2% of Fortune 500 CEOs, with women of color making up 1.2%, CBS News reported. Ursula Burns Reflects on Being 'the First'. What is handed easily to white men for simply being white and a man is kept from Black women who put themselves through years of education, sacrifice, and growth. "Then I said, 'Holy sh-t, this is a big deal,'" Burns, 63, tells CNBC . RT @CNBC: The first Black woman CEO in the Fortune 500 on work-life balance: You don't have "to go to all your kids' games." (via @CNBCMakeIt) 10 Dec 2022 04:11:11 The 67th edition of. In response to the data laid out in the list, David Craig, the CEO of Refinitiv, penned an opinion piece highlighting the importance of companies publicly reporting their racial and ethnic diversity numbers. Her education prepared her for a number of executive roles at major companies. She is the first black woman to head a Fortune 500 company. Through contract negotiation with Xerox unionized workers, outsourcing manufacturing and the layoff of 19,000 employees, she saved the company close to $2 billion. In other words, you live your life not knowing the end of the story, and retell it only as if you knew what the outcome would be.. As of Dec 7, 2022, women were CEOs at 9.4 percent of Fortune 500 companies. Ursula Burns is the very first female, and a Black woman appointed as the head of Xerox, a Fortune 500 company. Is there a self-made story as well-known as Oprahs? Sources: Department of Education, WTOP News, The White House, Partnership for Public Service (Go Government), Upcoming Diversity Job Fairs, Events and Conferences, View the current magazine pdf accessible version, Top Companies for Diversity and Inclusion Recognition Lists, The first Black woman CEO in the Fortune 500 on work-life balance: You dont have to go to all your kids games, 4 Black Technologists Who Have Built Their Careers At Bloomberg, emotional tax that comes with being Black in tech, Meet The Woman Behind Googles Multi-Million Dollar Partnerships With Black Founders Around The Globe, Searching for a Remote Job? She has also served on the board of directors of multiple corporations including Uber, American Express and ExxonMobil. This data underscores the significance of Brown Duckett and Brewers dual recognition on the list. Franais. Like Brewer, she is among a handful of Black women. When considering the Fortune 500, 0.8% of their CEOs are Black, and they are all men. Publishing these kinds of numbers takes guts, says Craig. After the resurgence of support for the Black Lives Matter movement in 2020, Chuter wanted to highlight the diversity (or lack thereof) within major companies that were pledging their support. Burns also led President Obamas task force on STEM education, became a member of the BRT executive committee, and served as the vice-chair and then chair of the Presidents Export Council from 2015 to 2016. After serving as a COO for The RLJ Companies, she would join the board of Adtalem Global Education, a workforce solutions provider. Russian. Looking to build your successful tech Startup? ESSENCE.com is part of ESSENCE Communications, Inc. 2022 ESSENCE Communications Inc. All Rights Reserved. She landed a job in radio while she was in high school, and before turning 20, she was working as a co-anchor at a local news station. He urged me to hone my bluntness by advising me not to intimidate people and to listen carefully to their ideas instead of dismissing or overruling them. But it is an important step toward making meaningful progress. And it requires a willingness to share actual numbers and not, say, report underrepresented minorities as a single block. If we want to see more Black women step into the C-suite, and specifically into CEO positions, they must be sponsored into . My hope is that corporate America realizes that talent is created equally but opportunity is not, and we all acknowledge that theres still more work to be done.. She attended Cathedral High School, a Catholic all-girls private school on East 56th Street in New York. . Why the first Black woman CEO in the Fortune 500 says being the minority can be a career advantage, From the first black cheerleader at Berkeley to making history as Mavericks CEO: How Cynt Marshall did it, First Black CEO of Big Brothers Big Sisters of America: After landing the job, I thought of Ahmaud Arbery, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2022 CNBC LLC. As recently as fifteen years ago, there had only been three women CEOs of Fortune 500 companies, and no African Americans. When she joined the Dallas Mavericks in 2019 as their CEO, she became the first Black woman to lead an NBA team. I didnt know Ken personally, but I certainly knew a great deal about him. Despite every obstacle thrown against us, Black women have made and will continue to make history. Ursula Burns, Chairman & CEO - Xerox. If Id taken out loans through the Tuition Assistance Program, I would have been in debt for $80,000. With his resignation, there are now only four black CEOs among the Fortune 500. As of March 2022, she is one of two Black women CEOs currently leading Fortune 500 companies. Women still only make up 8.2% of Fortune 500 CEOs, with women of color making up 1.2%, CBS News reported. It went public on the New York Stock Exchange in April 2021,. In 2009, Burns was also appointed by President Barack Obama to help lead the White House National STEM program, which encourages students to pursue STEM-related careers. "I have so . In July 2009, she was named CEO of Xerox and thus becoming the first black woman CEO to head aFortune 500 company. In April 2019, she launched her brand to better serve Black women while also remaining inclusive to women of all skin tones. Lloyd, who was divorced, had extra rooms in his house, which Xerox rented for interns. By now there have been more than 100 women, African American . Broadening the list to the 1000 most successful companies in the world, 0.1% of them have a Black female serving as CEO, and her name is Lisa Wardell. While the executive team had no female or POC employees when she was named CEO, under Marshalls leadership, they are now 50% women and 47% people of color. Over the complete . (Image: Twitter) When Ursula Burns became the CEO of Xerox in 2009, she didn't consider it a . Katharine Graham, the former chief executive of The Washington Post, made history as the first woman on the list in 1972. While tons of companies need great improvement, we can all thank Sharon Chuter for pushing them to be transparent. Your history is not your destiny. With many educational accomplishments, she has a Bachelors degree from Vassar College, a Masters degree from UPENNs Wharton School of Business, and a law degree from Stanford University. Former Xerox CEO Ursula Burns is the only Black woman to ever chair a Fortune 500 company in the list's history. 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. Geisha Williams, former CEO of PG&E The daughter of Cuban political refugees, Williams said she's angry she's still one of only two Latina Fortune 500 CEOs. | Privacy Policy | Terms of Use | Essence.com Advertising Terms. Rather, she says, she relied on her. 1. Ursula Burns was the first Black woman to lead a Fortune 500 company when she became the CEO of Xerox in 2009. Elder Customers Treating Customers with EmpathyVirtual Event, BWISE Virtual Career Fair & Networking Event 2023, CSUN 38th Annual Assistive Technology Conference, The National Forum for Black Public Administrators Conference 2023, 2023 NGLCC International Business & Leadership Conference. Offers may be subject to change without notice. As the number 4 company on the Fortune 500 list overall, CVS Health's Karen Lynch also became the highest-ever ranked female CEO. Burns stepped down from that role in 2017, and, with the exception of Mary Winston, who served as Bed Bath & Beyonds interim chief for several months in 2019, Black female CEOs have been missing from the Fortune 500 ever since.. But former Xerox CEO Ursula Burns who became the first Black CEO of a Fortune 500 company in 2009 says she never bought into that narrative. Three new Black entrants are featured on the 2022 Fortune 500. The peak year for. Mary Winston was the second when she became interim CEO of Bed Bath and Beyond in . Since 2000, there have been 151 white women and people of color appointed CEOs at Fortune 500 companies. Of all the women on this list, Ursula Burns is the one who paved the way for Black female CEOs of the present and future. Japanese. Its about putting it all together and knowing where help is needed. The newest addition to that list is Rosalind Brewer, the CEO of Walgreens Boots Alliance and previously the Starbucks' chief operating officer. One of Wall Street's highest-profile Black executives, Duckett runs consumer banking at JP. In 2002, Burns was named the first woman presidentof Business Group Operations (BGO) after the near bankruptcy crisis. According to Xerox, this is also the first time a female chief executive has replaced another female chief executive at a Fortune 500 company. Burns started working full-time for Xerox in 1981 and was there for another thirty-six years. Ursula M. Burns (born September 20, 1958) is an American businesswoman. A total of 18 black CEOs have featured in the Fortune 500 since 1999 - peaking at a concurrent six in 2012. The late Katherine Graham, of The Washington Post Co., was the first female CEO to make the Fortune 500 list, in 1972. And while the collective number is still low, the journey continues. But former Xerox CEO Ursula Burns who became the first Black female CEO of a Fortune 500 company in 2009 says she never bought into that narrative. Every day we're serving Black women deeply. Only 1% of the Fortune 500 CEOs are African Americans, 2.4% are East Asians or South Asians, and 3.4% are Latinx. Katharine Graham, the former chief executive of The Washington Post, made history as the first woman on the list in 1972.. (In 2019 Mary Winston was named interim CEO of Bed Bath & Beyond for several . In 2004, Ursula was invited to join the board of American Express while she was still president of BGO at Xerox. The beauty community is often recognized as problematic. And these numbers are despite the fact that Black people make up about 13 percent of the American population. I was young for such a big job, only forty-one, and the age issue came up as it had in every previous job at Xerox. Rosalind Brewer will become the only Black woman currently leading a Fortune 500 company in the U.S. when she takes on the role of chief executive officer of Walgreens Boots Alliance (WBA). The annual list of the 500 largest American companies by total revenue features two Black female CEO's on the same list for the first time ever, according to ABC News. Oprah helped solidify the notion that if no one else is naming you the CEO of a business, name yourself. National College Resources Foundation Upcoming EventsMark Your Calendar! No Black or Hispanic women head Fortune 500 companies, while three Asian American women serve as CEOs. The National Basketball Association (NBA) is a boys club. With the resignation of Tapestry CEO Jide Zeitlin in July 2020 and Merk CEO Kenneth Frazier in June 2021, the number of Black CEOs among the Fortune 500 dropped to a woeful four. In the same period, there have only been four Black women Fortune 500 CEOs. She was the first African American woman to lead an S & P 500 company and serve as CEO of a Fortune 500 company. 9, CVS ranked No. Leading, Id learned, is about integrating, not dividing. These actors can be public sector (e.g., local, state and federal executive/ legislative/agency) or private sector (e.g., industry/philanthropy/education/advocacy). Not only are the players all male, but the coaches and owners are dominated by a list of men as well. What a LIGHT this woman is. Espaol. Rather, she says, she relied on her late husband Lloyd Bean to help take care of their two children, missing activities for work while scaling the career ladder. She worked her way to her former position as CEO of Chase Consumer Banking and is still a member of the Nike board of directors. Hispanics and Latinos held just 6% of manager positions against an 18.4% share of the population. Prior to becoming Walgreens CEO, Brewer held a series of high-profile positions including chief operating officer and group president at Starbucks, and chief executive of the Walmart-owned Sam's. Burns' sister also lived nearby, and sometimes helped out, Burns says. Congratulations to our CEO Thasunda Brown Duckett, one of Fortune's 2022 Most Powerful Women. Burns released her memoir, Where You Are Is Not Who You Are: A Memoirin June 2021. In 2002, Xerox was nearly going bankrupt and she was tasked with implementing the CEOs restructuring plans. Jenkins served as Chief Operating Officer for one year before she was promoted to CEO in 2014, a role she has held for the last eight years. Her titles included intern, executive assistant, vice president, and president before she earned the highest title within the company. . While the list of Black female CEOs is small compared to other demographics, the list continues to grow, and Black women continue to prove that they should never be disregarded or overlooked. As the CEO of Lowe's, Marvin Ellison also has the rare distinction of being the only Black executive to have CEO positions at two different Fortune 500 companies. To learn more about educational opportunities for HBCU students and graduates, visit sites.ed.gov/whhbcu. Brewer is currently the COO of Starbucks and will become the only Black female to helm a Fortune 500 company after she assumes the title of Walgreens CEO in March. I was one of them. Just this June, Fortune Magazine announced a new milestone in its list of Fortune 500 female CEOs. Retirement and investment manager TIAA named Duckett its CEO in February 2021. The first Black woman CEO in the Fortune 500 on work-life balance: You don't have "to go to all your kids' games." (via . Essence may receive compensation for some links to products and services on this website. She says that when she started to rise up the corporate ranks, Bean a research scientist at the same company retired early to become a stay-at-home dad. Most do not think about AARP until they are getting older, but the company is known for providing a lot of options and services for the elderly. In 2014, Forbes rated her the 22nd most powerful woman in the world. Granular data is vital in building a nuanced picture that can then led to a nuanced response.. He had a stellar reputation as an outstanding businessman and person.. When he was named as the head of the company in 2001, he became the third black CEO of a Fortune 500 company. In July 2009, she was named CEO of Xerox and thus becoming the first black woman CEO to head a Fortune 500 company. Former Starbucks executive Rosalind "Roz" Brewer assumed her new role as CEO of Walgreens on Monday, officially making her the only Black woman currently serving as the head of a Fortune 500 . One of only two Black female CEOs in the Fortune 500, she LinkedIn Karen E. Lutomski, CIMA : #FortuneMPW #BeTheChange #RetireInequality Burns had just made history as the first Black female CEO of a Fortune 500 company, a position she held until 2016. In 2000, Xerox had revenues of approximately $19 billion and approximately $2 billion of profit. One of the most successful people in the world, Oprah currently serves as CEO for both of her businesses. Ursula was raised by her Panamanian single immigrant mother who was on welfare. He also counselled me often about controlling my emotions, my tone of voice, and my choice of language so that they wouldnt cloud the issue.. campaign called for companies to Pull Up or Shut Up, executive team had no female or POC employees. Upon graduation, she would join AT&T, a corporation she stayed with for over 36 years where her highest position was as Senior Vice President - Human Resources & Chief Diversity Officer. Everybody around me was older, even people who worked for me in manufacturing.. Scoopnest. TIAA, a Fortune 100 financial services company, has . She would later create her own production company, Harpo Productions. Prior to his role with Lowe's, he held the CEO position with J.C. Penney and also worked at companies like The Home Depot and Target, according to his LinkedIn. The best financial advice I learned from my time on Wall Street, 31-year-old makes $15,000/month as a voiceover artist and lives in a school bus, How a Colorado couple retired at 40 and built a net worth of $1.5 million. Black History Trailblazers of the 1960s: Edward Brooke, The Senator February 15, 2022 Rosalind "Roz" Brewer assumed the role of Walgreen's CEO on Monday, March 15, officially becoming the only Black woman to currently lead a Fortune 500 company and just the third ever to have achieved the historic career milestone. Her new position is noteworthy. She also became the first woman to succeed another woman as head of a Fortune 500 company. Thasunda Brown Duckett become the fourth Black Woman to head a "Fortune 500" company, on May 1, 2021, when she succeeds Roger Ferguson, who announced his retirement from TIAA in November 2020, after a 13-year run as CEO. Ursula is an American Business Executive, who served as the chairwoman of the board of the Xerox Corporation from 2010 to 2017 and as Chief Executive Officer from 2009 to 2016. 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. He also cautioned me about my impatience with people who I thought were not good at what they did or didnt carry their weight., In June 1991, then chairman and CEO of Xerox Paul Allaire poached Ursula from Wayland and she subsequently became the executive assistant to the CEO, Paul taught me the value of slowing down. Burns was ranked 27th on FORTUNE magazine's ninth annual list of the 50 Most Powerful Women in Business. On March 15, 2021, Rosalind Brewer became the first Black woman to be the CEO of Walgreens Boots Alliance a Fortune 500 company. This year's Fortune 500 list was a record-breaking affair for female CEOs, with 41 woman-run companies making the cut. The program was essential. Sign up for daily content and exclusive offers you'll love! The program included a summer internship with the company. This venture was followed by the Oprah Winfrey Network (OWN) which was founded in 2011. In 2021, TIAA ranked No. She was the president and CEO of Xerox for nine years from 2007 to 2016. When Ken Frazier retires from Merck next month, there will be four, NPR said. Ursula M. Burns was born on September 20, 1958, in New York, New York, U.S.A). Burns is also known for serving on the board of directors on . Robert Reffkin founded the real estate platform Compass in 2012. Before Starbucks, she was. Planet Fitness CEO explains how it keeps gym memberships at $10 02:18 New York CNN Thasunda Brown Duckett officially took the helm as the new CEO of TIAA on Saturday, becoming the fourth. Hobson has served as the vice-president of. The share of female CEOs of Fortune 500 companies reached an all-time high of 7.4% in 2020, with 37 women heading major firms. 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. Mary Winston was the second when she became interim CEO of Bed Bath and Beyond in . Congratulations to our CEO Thasunda Brown Duckett, one of Fortune's 2022 Most Powerful Women. Burns headed several Xerox business units between 1992 and 1997. My leap over the normal path to appointment was made possible by Vernon Jordan, a member of both the Xerox and American Express boards, and Ken Chenault, the widely admired CEO of American Express, who had also been mentored by Vernon. Another metric that helps reveal the long-term . Her only regret: not being more present in those daily motions, from the office to her home. Duckett, of TIAA, and Brewer of Walgreens Boots Alliance, were both recognized on the prestigious line-up for outstanding leadership at their respective companies. As her memoir title says Where You Are Is Not Who You Are. Roz held many leadership positions at Walmart until she left in 2012 when she was appointed the first Black woman CEO of Sams Club. From Xerox to the Dallas Mavericks, here are eight women CEOs you should know about. Burns is mostly known for being the CEO of Xerox from 2009 to 2016, the first among black women to be a CEO of a Fortune 500 company, and the first woman to succeed another as head of a Fortune 500 company. This led to Cynthia (Cynt) Marshall shattering the ceiling. 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. Policies are influential actors written or oral expressions of important public objectives and priorities. "I would not be able to be CEO of the company unless I outsourced the caring for my kids," Burns, 63, tells CNBC Make It. She's sat on the Board of Directors of Diageo, Uber, American Express and ExxonMobil and even advised President Obama. Trailblazers Week celebrates the women who have pushed boundaries and paved the way for others in their industries. One of only two Black female CEOs in the Fortune 500, she Karen E. Lutomski, CIMA LinkedIn: #FortuneMPW #BeTheChange #RetireInequality Instead, she used the time to relax and do a crossword puzzle. After leaving Xerox, she was elected to become the chairwoman of VEON and was appointed the CEO of VEON, following the sudden departure of its CEO. It is not found in the governance manual, and it does not define how the board members operate or what they think is important. She grew up in a California housing project before her hard work earned her a full scholarship to the University of California, Berkeley. In fact, Walgreens Boots Alliance currently sits at 16 on the list. TIAA's (then TIAA-CREF) Dr. Clifton R. Wharton, Jr. was the first in 1987. This includes Thasunda Brown Duckett and Rosalind Brewer, two Black female CEOs, who made this years Fortune 500 list. Her ambitions would push her to earn a mechanical engineering degree at Brooklyn Polytechnic Institute before earning a masters in the same field from Columbia University. Her career eventually led her to AARP in 2010 where she served as president of the foundation. Before Duckett and Brewer began their new jobs, only one Black womanformer Xerox chief Ursula Burnshad ever run a Fortune 500 business on a permanent basis, Fortune said. One of only two Black female CEOs in the Fortune 500, she. Ursula met her future husband, a Xerox research scientist during her summer internship. After earning her masters degree, she joined Xerox full-time in 1981. Xerox paid the tuition for her masters degree at Columbia, through a graduate engineering program for minorities. The reports data also highlighted that Black Americans account for just 5% of manager positions in the 80 Fortune 500 companies for which data were available, compared to a 13% share of the broader U.S. population (according to U.S. Census data). When Duckett steps into her new role on May 1, she will become the second Black woman to currently lead a Fortune 500 firm, accompanying Walgreens new CEO Rosalind Brewer on the list. Despite the troubles of her youth, she still managed to put herself on her path to greatness. One of only two Black female CEOs in the Fortune 500, she works to break down barriers to financial . She writes about growing up in poverty, lessons learned from her mother, becoming the CEO of Xerox, parenting, loss, grief and managing success. She got the job just months. The number was six in 2013, and five in 2015. "I [wasn't] a helicopter mom," she says. Today, there are five Black CEOs in the Fortune 500. Of course, theres the Fortune 500, but some often talk about the Fortune 100 the 100 companies that generated the most revenue in the passing year. Mellody Hobson was appointed by Starbucks to head its Board, making her the only African-American woman to chair the board of a Fortune 500 company. Burns handed over to Jeff Jacobson as CEO after stepping down from the position in December 2016. Bed Bath & Beyond's Mary Winston was the first black woman to be a Fortune 500 CEO since. Congratulations to our CEO Thasunda Brown Duckett, one of Fortune's 2022 Most Powerful Women. She earned a bachelors degree in mechanical engineering (1980) from Brooklyn Polytech (now New York University) through the Higher Education Opportunity Program (HEOP), a scholarship program created by New York State in 1967 to aid economically and educationally disadvantaged residents. In 2007, Burns was appointed president of Xerox, chief operating officer, and member of the board. Edmonton, AB T5J 3R8, Higher Education Opportunity Program (HEOP). After a year and a half, Im more happy than sad; Im strong and rebuilding a fulfilling new life., Life happens one day at a time, and only in the retelling does it come together into remarkable, exciting, or insightful stories. Thasunda is 1 of only 2 Fortune 500 CEOs who are black women. Burns has served as a board member of major corporations such as American Express, Nestl, Exxon Mobil, Uber,PQ Corporation, Lincoln Electric Company, Banta, Dames and Moore. She remained Xerox's chairman until 2017. Chenault announced Wednesday that he will step down from the top job at. She held several engineering positions in engineering, product development and planning. Thasunda Brown Duckett is the current CEO for Teachers Insurance and Annuity Association of America (TIAA), a company that currently sits at 79 on the Fortune 500 ranking. Join our 12-week cohortof tech startups for Black founders by Black industry experts. Women have only been on the Fortune 500 CEO list for 48 years. In fact, Walgreens Boots Alliance currently sits at 16 on the list. I just don't understand what that's all about.". The New CEOs looks at the women and people of color leading Fortune 500 companies, exploring the factors that have helped them achieve success and their impact on the business world and society more broadly. "It takes a village, and we had the village," she says. menu. Although this is a sign of progression, the work has just begun. The annual list ranks 500 of Americas largest companies, which generated $13.8 trillion in revenue, or two-thirds of the U.S. economy. Rather, she says, she relied on her late husband Lloyd Bean to help take care of their two children, missing activities for work while scaling the career ladder. 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. In 2016, she was appointed President and CEO of the company, a position she currently held until September 2021. The. The report insights and analysis outline the 10 accelerators business and society can do to ensure that the number of women CEOs rise. The number of companies willing to disclose granular data is disappointing, he says. 1. You might be surprised to learn that not only is the CEO of AARP a Black person, but a Black female. But former Xerox CEO Ursula Burns who became the first Black female CEO of a Fortune 500 company in 2009 says she never bought into that narrative. 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. In adhering to these initiatives, HBCUs hope to provide more opportunities for success for their students and advocation for diversity in every workplace. When Ken Frazier retires from . At the same time, she says, her career ascent moved so quickly that it sometimes left her feeling absent from the regular motions of her day-to-day life. 'I only work 4 hours a week': This 31-year-old turned his side hustle into a became the first Black female CEO of a Fortune 500 company. 10060 Jasper Avenue Suite 2020, Tower 1, Ursula Burns is an American success story. Coming from humble beginnings, she was raised in a New York City housing project by a single mother. Hobson has served as the vice-president of. 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. Burns led Xerox from 2009 to 2016, when the company split into two corporate entities: Xerox and Conduent. Ursula Burns, chairman and chief executive officer of Xerox Corp., center, speaks during a panel discussion with Gary Shapiro, president and chief executive officer of the Consumer Electronics Association, left, and Alan Mulally, president and chief executive officer of Ford Motor Co., at the 2012 International Consumer Electronics Show in Las Vegas, Nevada. As BGO president, she was responsible for most of the inner workings of the companythe engineering groups, research and development, product development, manufacturing, supply chain, procurement, information managementeverything except legal and finance and sales. You cannot be a good leader without having a great team you can depend on to help lead. RT @CNBC: The first Black woman CEO in the Fortune 500 on work-life balance: You don't have "to go to all your kids' games." (via @CNBCMakeIt) 10 Dec 2022 04:08:21 Here is where she became the universitys first Black cheerleader. The former talk show host is very candid about her difficult childhood and how she persevered through it. Wayland, who remains a dear friend, gave me specific leadership advice. A boards culture is important for board members to understand, as it determines whether they can contribute successfully. Even when she attended a game, she says, she didn't watch "every second" of it. She writes: What I came to realize in the last year is what most people realize during their bereavement: life goes on. Rosalind Brewer is the CEO of Walgreens Boots Alliance and is one of only two Black women to be named CEO of a Fortune 500 company when she took over at Walgreens in March 2021. Thasunda Brown Duckett Thasunda Brown Duckett The number of women CEOs listed had reached an all-time high: 32 in a single year. She additionally was Xerox's chairman from 2010 to 2017. She was put in charge of turning around the Xerox Facsimile and Office Color business, and head of the European Mid-Range Copier Group in London. 5 Mistakes to Avoid, Answers to 8 Commonly Asked Questions About Business Credit, The NMSDC Equity Honors 2023Applications Now Open, How 4 engineers and culture champions are growing their careers at Bloomberg, Understanding the Emotional Tax on Black Professionals In the Workplace, value racial and ethnic diversity in the workplace, being interrupted while communicating in the workplace, disenchanted with their organizations intolerance for diverse POVs, Women Leaders at Bloomberg From Around the World Share Their Career Experiences. Jo Ann Jenkins graduated from Spring Hill College in 1980 with a degree in political science. Terms of Use and Privacy Policy. This Spelman alum is no stranger to paving the way and setting a standard. Ursula Burn is a role model for succeeding in spite of the challenges that society places on you. By clicking Sign Up, you agree to our NPR also pointed out other diversity gaps companies should take steps to improve. As CEO, she led the largest Xerox acquisition of a company when they paid $6.4 billion to acquire Affiliated Computer Services. CVS, Walgreens and TIAA are also staples of DiversityInc's annual Top 50 Companies for Diversity competition. Former Xerox CEO Ursula Burns says she balanced work and family by "outsourcing the caring for my kids." Here's what that means, and how it panned out for her. In 1999, she was tasked with overseeing manufacturing and supply chain as vice president of global manufacturing. Black women continue to pave new avenues and make history with their accomplishments, and the women on this list are some of them. Korean. In the aftermath, this brought companies like Apple, Bank of America, CVS, Facebook, Walmart, and more to release their diversity statistics. An error occurred, please try again later. 39 . Her campaign called for companies to Pull Up or Shut Up - pull up those receipts or silence the fake support. She started as a graduate intern and ultimately rose to become the first Black woman to serve as the CEO of a Fortune 500 company. Brewer is the first African American woman to lead Sam's Club, Walgreens Boots Alliance, and Starbucks as group president and COO. The Fortune 500 has been without a Black woman CEO since Ursula Burns left Xerox in 2016. Name: Age: Net Worth: Source: Industry: Country of Citizenship: Aliko Dangote: 64: $14.00: The Dangote Group: sugar, flour, cement: Nigeria: Mike Adenuga: 68: $6.90 . And while Uoma Beauty is doing great, we have to mention Chuters social media campaign that had major corporations falling in line. Portugues. Five years later, she was named the COO of Starbucks again, the first Black woman to do so. Select an edition. Fortune 500 women CEOs as of 2021 (47 women) CEO Company Fortune 500 rank Start date Publicly traded company . Even so, they continue to persevere and push themselves to the forefront of many businesses. msn back to msn home money. Xerox reiterates that this is also the first time a female chief executive has taken the position of another female chief executive at a Fortune 500 company. Diversity and inclusivity have always been an issue, and Uoma Beauty founder and CEO Sharon Chuter decided to do something about it. In 2010, she became the chairwoman of the company board. From the brink of bankruptcy to a 1,300% stock gain: How this CEO turned around her company. 26 and Walgreens ranked No. These women have made impressive strides to get to where they are. They created the space for me to have this opportunity. Come get a plate of goodness! Ursula Burns is the first Black female CEO of a Forutne 500 company. rosalind "roz" brewer became the first black woman to helm a fortune 500 company (with thasunda brown duckett, below, they became the only two black women on the list) when she was. Therefore, it was not until 1999, when Franklin Raines became CEO of Fannie May (#26) and Lloyd Ward became CEO of Maytag (#379), that there were Black CEOs of Fortune 500 companies. From growing up in a deprived and dangerous area of New York, she became the first black woman to be CEO of a Fortune 500 company, Xerox, later becoming its president and chairwoman. The ideal culture, in my opinion, is one that is inclusive and open, a culture in which everyones ideas are heard.. Vernon, who knew my record at Xerox and knew I could be on track to lead the company, had championed me to Ken as a board member. Ursula Burns profile is part of our Black Excellence Series. Until 2016, only one Black woman helmed a Fortune 500 company and history was made when two Black women became CEOs of major national corporations. Congratulations to our CEO Thasunda Brown Duckett, one of Fortune's 2022 Most Powerful Women. You own a major part of the cost, Anne said. In January 1990, vice president of marketing and customer operations, Wayland Hicks asked Ursula to become his executive assistant. "We did what we had to do.". Italiano. search. The business world is not kind to women, and the experience is even harder for Black women. Women have only been on the Fortune 500 CEO list for 48 years. In 1981, she earned a master of science in mechanical engineering fromColumbia University. Mellody Hobson was appointed by Starbucks to head its Board, making her the only African-American woman to chair the board of a Fortune 500 company. Her presence on the screen would later lead her to a local Chicago talk show, and as we know, the rest is history. Despite missing out on after-school activities, Burns says she raised two "unbelievably good kids." Please check your inbox and click the link to confirm your subscription. I am honored to celebrate this true Queen! Ursulas husband died unexpectedly in January 2019. In May 2000, Ursula was named senior vice president for corporate strategic services and began working closely with Anne Mulcahy, who would later become the first woman Xerox CEO in August 2001. Before 2021, only one Black woman had been CEO of a Fortune 500 company. The peak year for. In reality, mine is not a melancholy life. This would eventually lead her to furthering her studies at the Booth School of Business, Stanford Law School, and The Wharton School. While Duckett was born in Rochester, New York, she spent some of her formative years in Texas before earning her Bachelors degree from the University of Houston and an MBA from Baylor University. A Division of NBC Universal. "I was not a believer that you had to go to all your kids' games. They have set precedents for Black women who wish to dominate the predominantly white and male business world. TIAA has more than $1 trillion in assets under management. HEOP paid my full tuition and gave me a stipend for the subway and food. Since 2000, the number of female Fortune 500 CEOs hit an all-time high of 41 in 2021. Rosalind Brewer hails from Detroit, Michigan, where she grew up the youngest of five children. She is wonderfully Citing personal reasons, Jide Zeitlin stepped down as chairman and CEO of fashion company Tapestry Inc. last Tuesday, having remained in the chief executive position for less than a year. Her mother, Olga Racquel Burns took in washing and ironing jobs, bartered office cleaning for their medical needs, and took care of other peoples children in their apartment to supplement her welfare check. While she is currently the only Black. We dont want to go through all this and have nothing left that makes us great, so please do it in a way that keeps the company whole and profitable, a company your children and mine would want to work for.. In 2009, Ursula Burns made history when she became the CEO of Xerox. The 2021 Fortune 500 list featured two Black women, Walgreens Boots Alliance CEO Roz Brewer and TIAA CEO Thasunda Brown Duckett, running companies on the list for the first time.. This report provides a comprehensive breakdown of women running Fortune 500, Fortune 1000, Russell 3000, S&P 500, Private Companies over $1 billion, and women entrepreneurs over $500 million. The annual list, which ranks America's largest companies, also made history . The first Black woman CEO in the Fortune 500 on work-life balance: You don't have "to go to all your kids' games." 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