From Fortune:

Only eight out of 500 Fortune 500 companies have a black CEO, which is just 1.6% of the total, significantly less than the 14.4% of black Americans in the population. Black CEOs face challenges due to stereotypes and biases. Women in leadership positions also face additional hurdles due to assumptions about diversity hires and societal push. Black workers make up 13% of the labor force but only 5% of chief executives, due to barriers and lack of access to sponsorship and profit and loss duties.

The road to the top in corporate America is disproportionately difficult for black workers, with significantly less access to opportunities and support compared to their white counterparts. The American Dream, which promises equal opportunity to all, is often not reflective of reality, creating a systemic barrier for many non-white individuals. Furthermore, resistance to change and acknowledgment of privilege perpetuates the lack of diversity in leadership positions.

The cultural divide in America is reflected in ongoing debates over diversity and inclusion. Some states have passed laws dismantling diversity programs, while companies like Mastercard are making strides in hiring and pay equity. However, disparities still exist, with women nationally earning 82 cents for every dollar earned by men, and only 6% of Mastercard’s national senior management team being Black.

The remaining eight Black CEOs on the Fortune 500 list include leaders from Lowe’s, TIAA, Southern, C.H. Robinson Worldwide, Exelon, Qurate Retail, M&T Bank, and SAIC. The numbers of Black CEOs in the Fortune 500 list have seen marginal increase in past years, raising the question of whether the coming years will bring more diversity to the top positions in corporate America.



Read more: Black CEO representation on the Fortune 500 is 1.6% this year. Here’s what could turn it around