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Gender Inequality among the Fortune 500: Who Are the Leading Female Pioneers?

  • Writer: Ingrid Guo
    Ingrid Guo
  • Dec 18, 2020
  • 3 min read

Author: Eliana Eisman '22


Each year Forbes Magazine designates a list of 500 companies with the largest gross income in the United States, known as the Fortune 500. Comprising of both public and private businesses, the list includes some of the nation’s most well-known firms, such as Amazon, Apple, Walmart, and CVS. The job of the highest-ranked executive, the CEO, of a company, is met with endless responsibilities and decisions. The Fortune 500 CEOs are more than qualified, boasting some of the most impressive resumes of experience with degrees from top universities. But, the distinguishing factor between 38 out of 500 of these figures is the long-fought component of gender - their femininity.


Tacy Byham, CEO of global leadership company Development Dimensions International, led a recent analytical study titled the Executive Leadership Outlook 2020 in which she uncovered valuable insight on the disparity in female leadership. To start, more than half of the studied organizations did not evaluate women when searching for candidates to fill a CEO position. No major difference in the skill sets of men and women were found, making the two genders equally eligible for the role. In the words of Byham herself, “gender-inclusive companies integrate more diverse perspectives into people, products, and business decisions,” reflecting the rewarding benefits. Additionally, organizations with women in leadership positions noted 76% greater profitable growth over a measured five-year period.


The number of female CEOs at Fortune 500 companies has recently reached an all-time high of 38. To put this number into perspective, the group of powerful women still makes up just a mere 7.6%. The position has been filled by women faster than ever in recent years, with 24 being initiated between 2018 and 2019. While this number continues to see a positive upward trend, it only began climbing almost 50 years ago when the first woman joined the group.


Katherine Graham, former chief executive officer of The Washington Post, made history in 1972 as the first female to lead a company on the Fortune 500 list. Born in 1917 in New York City, Graham attended both Vassar University and the University of Chicago before graduating in 1938. After temporarily reporting for the San Francisco News, she joined The Washington Post team working in the editorial and circulation departments. Graham held a personal connection to the role, as her parents bought and owned the company beginning in 1933. Her husband, Philip Graham, was the Post’s publisher and joined her in purchasing the voting stock from her father in 1948. Evidently holding an extremely active role in the company, Graham held the titles of both president and publisher before taking over as CEO in 1972. Graham’s most notable acts throughout the course of her career include publishing the classified Pentagon Papers and investigating the Watergate scandal. Known for her passion, she led the Post on the premise that one must “love what you do and feel that it matters.” Graham published her widely acclaimed memoir Personal History in 1997, winning the Pulitzer Prize just one year later. Her remarkable accomplishments inspire women everywhere, redefining the standards for gender roles in business leadership.


After assuming the role on September 14th, Linda Rendle is the newest addition to the impressive group of female CEOs on the Fortune 500 list. She holds a Bachelor's Degree in Economics from Harvard University and has studied at the University of California, Berkeley, and Stanford University. Rendle joined Clorox in early 2003, holding the previous positions of both Executive Vice President and President. As a household name in cleaning and disinfectants, 2020 will understandably be a busy year for the company amidst COVID-19. With Clorox stock up 53%, Rendle is given no choice but to hit the ground running in the new position and will undoubtedly rise to the occasion. In response to the promotion, Rendle affirms, “I step into this role with great optimism for the future of our company and global portfolio of trusted brands, and immense confidence in our talented and passionate people around the world.” She is the modern-day exemplar for young women, whose upcoming actions as CEO are sure to be closely observed in reverence.


Though women are inadequately represented as CEOs of our nation’s most profitable companies, figures like Katherine Graham and Linda Rendle are pioneering the path to equality.


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