Study Reveals Black P&L Leaders are Some of the Highest Performing Executives in the C-Suite
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.