The share of Fortune 500 businesses run by women can’t seem to budge beyond 10%
Good morning, Broadsheet readers! Halla Tomasdottir will become Iceland’s next president, Outdoor Voices gets a new owner, and women run 10% of companies on this year’s Fortune 500—again. Have a thoughtful Tuesday!
– Still 10%. The 2024 edition of the Fortune 500—Fortune’s flagship ranking of the largest American businesses by revenue—is out today, and that means we have some new insight into the diversity of CEOs leading the U.S.’s top companies.
Overall, the story is more of the same: The share of Fortune 500 companies run by female CEOs held steady from this time last year at 10.4%. Since that stat first crossed the 10% threshold at the beginning of 2023, the number has barely budged.
This year, 52 out of 500 Fortune 500 chief executives are women. Newbies include JetBlue CEO Joanna Geraghty, the first woman to run a major U.S. airline; Expedia CEO Ariane Gorin; and Sherwin-Williams CEO Heidi Petz.
Departing names and companies include Walgreens, which parted ways with CEO Roz Brewer (while her interim successor, Ginger Graham, was a woman, the company opted for a male CEO as its permanent replacement); Rite Aid, which cut ties with CEO Heyward Donigan before it filed for bankruptcy; and Bed, Bath, and Beyond, which had been led by women through its tumultuous decline and ultimate brand business sell-off to Overstock.
Brewer’s exit lost the Fortune 500 one of its very few Black female CEOs; remaining are TIAA chief Thasunda Brown Duckett and Toni Townes-Whitley, the new leader of SAIC, who took over in a rare female CEO-to-female CEO handoff.
While the share of Fortune 500 businesses led by women seems to have stalled around 10%, that number represents a gigantic leap from just six years ago, when only 24 Fortune 500 businesses had female leaders, and from when our data begins in 1998. Then, there were only two female Fortune 500 CEOs—total.
For a more detailed report on this year’s Fortune 500 and the full list of female CEOs, read my full story here.
Emma Hinchliffe
emma.hinchliffe@fortune.com
The Broadsheet is Fortune’s newsletter for and about the world’s most powerful women. Today’s edition was curated by Joseph Abrams. Subscribe here.
ALSO IN THE HEADLINES
– Voted in. Entrepreneur Halla Tomasdottir won Iceland’s presidential election on Saturday with 34% of the vote. Tomasdottir will take over the mainly ceremonial role in the country known for its work boosting gender equality. She has experience as founder of Audur Capital, a defunct financial services company designed to bring the perspective of women into the industry. Reuters
– Payday. The highest-paid female CEO this past fiscal year was Advanced Micro Device’s Lisa Su, for the fifth year running, with $30.3 million in compensation. The median pay package for female CEOs rose 21% to $17.6 million. Associated Press
– Bringing Outdoor in. Private equity firm Consortium Brand Partners has acquired Outdoor Voices, the once-viral clothing brand founded by Ty Haney. The firm, which also owns 70% of Reese Witherspoon’s clothing line Draper James, is optimistic about revamping the company. Fortune
– Leading the robots. Waymo is leading the robo-taxi industry thanks in part to leadership from co-CEO Tekedra Mawakana, who’s responsible for commercializing the company’s self-driving technology. The company has experienced far more success than its rivals, but faces its own potential regulatory issues. Fortune
– Still fearless. In the latest twist in Fearless Fund’s legal battle, the firm has been prevented from handing out its $20,000 grants to Black women while the case moves through the legal system. Founder Arian Simone called the ruling “devastating.” Washington Post
MOVERS AND SHAKERS: ProPublica named Ginger Thompson managing editor. Rich Talent Group founder Jana Rich will move from CEO to executive chair, while Nicole Reboe becomes CEO.
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How Nikki Glaser became toast of the roast The Cut
PARTING WORDS
“I feel like most of the time, if I’m not stressing or have anxiety, I do feel like I’m having fun. So it’s good to have that and feel that again.”
— Simone Biles, the most decorated gymnast in history, after winning her ninth U.S. all-around title on Sunday
