The Fortune 500 is, as its name conspicuously describes, a list of the most richest CEOs on this Earth, at least an accumulation of those who care to disclose their fortunes in open record.
With Clorox naming Linda Rendle as their new CEO, 38 women are up and running on the list, an improvement indeed since 1972. However, the question still remains: is this up to par with changes in the global society?
Rendle has been working in Clorox for 17 years and will commence on to start on her role as CEO as of September 14, the company said in a statement on Monday. As Clorox, a producer for disinfectants and cleaning hygiene materials, the company is welcoming a new leadership in times of a very promising future.
Reflecting the market interest in the company’s role, Clorox’s stock is up 53% this year as the coronavirus pandemic has spread across the United States. Although the number of women CEOs on the list technically comes to 36 right now, it will officially hit 38 in mid-September after Rendle begins her new role at Clorox and Sue Nabi takes over as Coty’s CEO on September 1, according to Fortune reports.
Women have only been on the Fortune 500 CEO list for 48 years. Katharine Graham, the former chief executive of The Washington Post, made history as the first woman on the list in 1972.
Considering it has been almost half a century since the induction of the first CEO, it is very much telling of the lack of speed in regards to women CEO’s and their treatment in the industries still. A tiny fraction — less than 1% — of Fortune 500 companies have Black CEOs.
And only three women on the list of Fortune 500 female CEOs are women of color, according to Fortune. Those women are Sonia Syngal, the CEO of Gap Inc., Lisa Su, the CEO of Advanced Micro Devices and Joey Wat, the CEO of Yum China. In other words, the diversity is very much lacking.
Not only is the competition is still being played at a slanted field, but some of the longer standing ones have been replaced.
In June, Marillyn Hewson stepped down from her role as Lockheed Martin’s CEO after more than seven years. Ginni Rometty retired as CEO of IBM, Cheryl Miller took a medical leave from her role as CEO at AutoNation, and Kathryn Marinello resigned from her role as Hertz’s CEO.
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Replaced!