May 31, 2022

The Fortune 500 List Has A ‘Record Number’ Of Black CEOs — But There Are Still Only 6 Of Them

This year, six Black chief executives sit atop Fortune 500 companies, making up just over 1% of businesses on the 2022 ranking.

Fortune magazine described the figure as “a noteworthy increase” from last year when only five Black CEOs ran Fortune 500 companies. 

But is it really?

While this figure might seem like an amazing milestone to some, there’s still a long way to go.

According to Investopedia, only 20 S&P 500 and Fortune 500 companies feature a LatinX CEO — or, only 4 percent. That said, that’s still a greater number than Black CEOs.

Speaking about this issue last year – Korn Ferry’s Chief Diversity Officer at Michael Hyter, said: “Whatever awaits future Black CEOs, additions to the Fortune 500 could be few and far between if corporate America doesn’t move to fill its pipeline of Black talent. On the encouraging side, that is becoming much more of a priority since last summer’s social unrest over racial inequality.”

Who are the six Black chief executives?

Thasunda Brown Duckett

Thasunda Brown Duckett is an American businesswoman who serves as the president and chief executive officer of TIAA. She is also a former CEO of Chase Consumer Banking, a division of JP Morgan.

David Rawlinson

Rawlinson is the CEO of Qurate, which is the parent company of shopping television stations QVC, HSN, and Zulily.

Robert Reffkin

Robert Reffkin

Robert L. Reffkin is an American entrepreneur who co-founded the online real estate company Compass, Inc. and serves as the company’s CEO.

Frank Clyburn

Frank Clyburn

Clyburn is another new entry on the list and was appointed to the role of CEO of IFF (International Flavors and Fragrances) in February of 2022.

marvin ellison

Marvin Ellison

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.

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.

Roz Brewer

As the CEO of Walgreens Boot Alliance, Roz Brewer is the highest-ranking Black CEO on the Fortune 500 list — and one of only two Black women on the list.

Roz Brewer

“She’s the epitome of experiences, additional responsibilities, and demonstrated value,” said Michael Hyter, president, and CEO of the Executive Leadership Council (ELC), an organization that works to build a C-suite pipeline for Black executives.

Abbianca Makoni

Abbianca Makoni is a content executive and writer at POCIT! She has years of experience reporting on critical issues affecting diverse communities around the globe.