A groundbreaking new study released by Korn Ferry shows that senior Black profit and loss (P&L) leaders at Fortune 500 companies are some of the highest performing executives in corporate America. Despite the wealth of talent featured in the study, Black executives are underrepresented in the C-suite. Since 1955, there have only been 15 Black CEOs at the helm of Fortune 500 companies. Today, there are only three, none of whom are women.
The last all-male board in the S&P 500 added a woman this year and women make up 24% of directors and about 5% of CEOs. Black directors made up only about 1% of board members in the S&P 500, and 37% of boards did not have a single black member, according to an analysis by Black Enterprise magazine. About 1% of S&P 500 CEOs are black. Interim Bed, Bath & Beyond Inc. CEO Mary Winston, who had been the only black, female CEO in the Fortune 500 since her appointment in May, will step down Nov. 4.
color
“The disproportionate number of people who happen to be black who are in support roles versus P&L is dramatically out of balance.”
ELC Member Michael Hyter
Read The Report
The Black P&L Leader
https://www.elcinfo.com/wp-content/uploads/2019/11/korn-ferry_theblack-pl-leader.pdf
1
