As a hostile backlash to racial justice and gender equality wipes out desperately-needed corporate diversity, equity, and inclusion initiatives, the latest Fortune 500 rankings marked two revealing milestones.
Though only nine of the companies – 1.8 percent – are led by Black CEOs and just 11 percent are helmed by women, both metrics are record highs in the 70-year history of the iconic list.
The nine Black CEOs, who are to be congratulated, are:
• Marvin Ellison of Lowe’s
• Thasunda Brown Duckett of Teachers
Insurance and Annuity Association (TIAA)
• Toni Townes-Whitley of Science Applications
International
• Christopher Womack of Southern Company
• Calvin Butler Jr. of Exelon
• Dave Bozeman of C.H. Robinson Worldwide
• Michael Bender of Kohl’s
• René Jones of M&T Bank
• David Rawlinson II of QVC Group
While Fortune noted in its announcement the significance of women CEOs breaking the 10 percent mark for the first time, neither the number of Black CEOs nor its implication were mentioned. In a separate article, however, the magazine reveals that only 28 of the more than 2,000 CEOs represented on the list since 1955 have been Black.
The nine Black CEOs on the 2025 list together represent more than 230 years of corporate executive experience and nine advanced degrees. The companies they lead made up more than $244.76 billion in revenue last year.
The facts are inconvenient for an administration and its allies who are actively promoting racist lies about “reverse discrimination” and “lowered standards” associated with diversity and inclusion initiatives. In reality, the bar for advancement is significantly higher for women and Black CEOs. While men are more likely to advance directly to the CEO spot from lesser roles like division head, women are more likely to have served as President of a company before making the leap to CEO. And Black CEOs, on average, have accumulated years of education, advanced degrees, and elite education than their white peers, according to research.
The qualifications of Black CEOs generally are so impressive that companies commonly see their stock prices jump in the days after their appointments are announced.
“Put simply, our study suggests that it is not enough for aspiring Black CEOs to be just as good as their White counterparts—they must be substantially better to make it to the helm of firms,” the researchers wrote. “Until this is addressed, the poor representation of Black leaders in firms, and the differential in market returns to their appointments, will likely continue.”
The higher bar that keeps women and people of color from advancing up the corporate ladder is not only unjust, it’s bad business. More diverse companies report higher revenue, and are more likely to be profitable; the vast majority of companies with strong DEI in their management teams will surpass their financial goals. Please visit www.triceedneywire.com to read more.