When McDonald’s CEO Don Thompson officially steps down in March, there will be just four black CEOs in the Fortune 500.
Even as politicians, pundits and the business community work to increase the number of women in the C-suite, Thompson’s departure is a reminder that the highest levels of corporate America are also severely lacking in racial diversity. Black CEOs will lead just .08 percent of America’s top companies once Thompson steps down. When Marvin Ellison takes the reins of J.C. Penney in August, that share will grow to 1 percent.
The lack of diversity at the top of corporate America extends beyond black CEOs. Fortune reported in February 2014 that just over 4 percent of Fortune 500 CEOs at that time were minorities, a classification including African-Americans, Asians, and Latin-Americans. And there were 24 women CEOs in the Fortune 500 — representing 4.8 percent of companies — as of June.
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McDonald’s declined to comment on Thompson’s departure.
“White men CEOs lead failing firms all the time,” Glass said. “Women and minorities aren’t given the benefit of the doubt. When they slip up — even if it’s not their fault — it’s really easy to blame them because we already have these biases that they may not be as competent as other leaders.”
