Minorities Face Many Challenges on the Way to the C-suite

All it takes is a quick glance at the Fortune 500 rankings to see that there are still significant challenges for minority leaders in business. Only three black CEOs run these very successful companies: Marvin Ellison (JC Penney), Roger Ferguson Jr. (TIAA) and Kenneth Frazier (Merck). Among the disheartening numbers, according to Fortune:The number of black CEOs is down by one from 2017, after Kenneth Chenault retired earlier this year from his longtime role as CEO of American Express. Three is the lowest number of black CEOs since 2002. Since 1999, a total of 16 black CEOs have led Fortune 500 companies. Ursula Burns was the first and only black female CEO of a Fortune 500 company. She retired from Xerox in 2016. “The fact that we are in this situation is a real problem and embarrassing for American companies.

Chenault Said in November. He Added That

Chenault said in November. He added that the leaders of these companies should identify and develop minority candidates: “You have to put them in the pipeline … to identify, recruit, develop and move people forward,” he said. Here’s a look at some of the drivers of those challenges for minority executives and for those aiming to reach that level. First  Australia Business Fax List steps There is no getting around these numbers. Consider again that no Fortune 500 company is led by a black woman, following Burns’ great successes at Xerox. As Ellen McGirt wrote for Fortune in 2017, “Burns’ appointment to the top job in 2009 was hailed as a milestone. Suddenly it looked more like an anomaly.

Burns Pointed to Several Early Career Elements

Australia Business Fax List

Burns pointed to several early career elements that contribute. To this struggle in mcgirt’s story, including education: “even with. A record number of black women graduating from college. ‘not enough is coming out of the education system. To get them all the way to the c-suite,’ burns says. And successful black women often end up in support positions. Rather than operational roles that lead to ceo jobs. »connections: burns says senior management. Should prioritize developing connections with rising black women. “there’s no natural path for connection. It’s not going to happen just by walking down the hall. Developing these relationships can help provide direction. She said: “and most young people don’t know what they want to do or be. They just know they want to be me. Or whoever they’re talking to.

 

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