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Fortune Magazine recently released its annual Fortune 500 list, and the outlet was quick to brag that it had a “record number” of Black CEOs on its coveted list. And they even invoked George Floyd’s name to brag about the accomplishment. “In the wake of racial protests following the murder of George Floyd, companies pledged to increase diversity within their executive ranks and accelerate change internally,” reports the outlet. “This year, six Black chief executives sit atop Fortune 500 companies, making up just over 1% of businesses on the 2022 ranking. That’s a noteworthy increase from last year when only five Black CEOs ran Fortune 500 companies.” *Cringe* The Fortune 500 list shows that there’s a world of difference between equality and equity. In other words, while everyone has the same opportunities (at least in theory), they’re not always going to be granted the same results, even if all things are assumed to be otherwise equal (and we all know they’re not). Six Black CEOs on...
Getting to the bag has been a part of Spelman College alumna Rosaline “Roz” Brewer ’s story. Appointed as the CEO of Walgreens in March 2021, Roz has now become the highest-paid female chief executive officer, according to a recent Equilar study. Brewer’s salary was $28.3 million, with $20.2 million of that compensation in stock awards. According to CBNC, Equilar looked at the largest 100 companies by revenue that filed 2021 proxy statements by March 31. Although several companies have not submitted proxy statements, the data found did provide insight into how things are shaping up for top executive women. According to the data, nine women CEOs are among the top female earners. This was an increase from six in the prior year. However, there were no women in the overall top chief executives. Nevertheless, Brewer ranked 14 overall among the highest-paid CEOs. “It is discouraging to see how underrepresented women are at the top and how overrepresented they continue to be at the bottom...
Walgreens joins various companies in its latest effort to diversify their board. Starbucks Corp. operating chief Roz Brewer is set to be named Walgreens Boots Alliance Inc.’s new chief executive officer, according to inside sources, reports The Wall Street Journal. Once set in stone, the new appointment will reportedly make Brewer the only Black female leading a Fortune 500 company today. Brewer will replace CEO Stefano Pessina who mentioned that he would step down as the drugstore company’s CEO once they found a new leader. As regulators, investors and activists continue to push for more diversity in Corporate America, Brewer’s appointment comes just on the heels of Nasdaq’s prediction that proposed changes will continue to push for greater gender and racial diversity on the boards of publicly-traded companies listed on its exchange. Upon joining Starbucks’ board in 2017, Brewer became its chief operating officer later that year after she served as CEO of Sam’s Club, owned by...