The number of women running Fortune 500 companies has hit a new record, according to this year’s Fortune 500 list.
There are also just three women of color on the list: Gap Inc.’s Syngal, Advanced Micro Devices CEO Lisa Su and Yum China CEO Joey Wat.Mary Winston, who was the interim CEO of Bed Bath and Beyond, was the only black woman leading a Fortune 500 company last year. She has since been replaced by permanent CEO Mark Tritton, leaving zero black women on the list.
Lorrain Hariton, president and CEO of Catalyst, a global nonprofit that works to accelerate women into leadership positions, says this year’s list is an “incremental victory” in the right direction, but acknowledges that a lot more progress still needs to be made. She emphasizes that with this incremental victory also comes “the sobering reality of the unprecedented economic and health crisis we face in this moment,” in which women are being financially impacted more than men.
Hariton explains that during this pandemic, women are not only losing their jobs faster than men, but they are also losing their jobs at a time when they are trying to ”[manage] child care, their households and their own emotional well-being.” Moving forward, she says, “with more women CEOs in the Fortune 500, we need to be proactive to create more equitable, inclusive and fulfilling opportunities and workplaces for everyone.” This includes, she adds, having a post-coronavirus workplace where leaders are “intentionally [doubling] down on supporting women at every level to continue to advance women in the workplace.”
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