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OUR INSIGHTS
While New Data Shows Promising Gains for Women CEOs in Smaller Public Companies and Private Enterprises, Stagnation in Fortune 500 Companies Continues
WASHINGTON, DC — (September 24, 2024) Women Business Collaborative (WBC) today released the findings of the 2024 Women CEOs in America Report, showcasing a mix of progress and challenges for women in corporate leadership. The report, which was completed in partnership with Ascend, C200, and Catalyst highlights growth in sectors like the Russell 3000 and private enterprises, alongside stagnation in the Fortune 500.
The data reveals a continued rise in the number of women CEOs in companies like the Russell 3000 and private enterprises, reflecting a societal shift happening in boardrooms across America. As more companies embrace diversity, equity, and inclusion (DEI) as core business practices, opportunities for women in leadership positions are expanding.
“This is a time of transformation,” said Gwen Young, CEO of Women Business Collaborative. “We’re seeing a societal shift in how leadership is viewed, and women are increasingly being recognized for their contributions at the highest levels of business. While there is more work to be done, the momentum is building, and I remain optimistic about the future.”
Fortune 500: Women CEOs Hold Steady at 10.4%
Women’s representation in the Fortune 500 remains at 10.4%, with 52 women CEOs as of 2024. This marks a significant rise from 41 women CEOs in 2021. While the number did not increase from 2023, new appointments in 2024, including Joanna Geraghty at JetBlue (the first woman to lead a major U.S. airline), signal continued progress.
Russell 3000: Growth in Women’s Leadership
The Russell 3000 saw a significant increase in women CEOs, with 9% of leadership positions held by women in 2024, up from 6.2% in 2021. By mid-2024, there were 270 women CEOs in the Russell 3000, marking a 66% increase since 2021. This demonstrates a growing recognition of the value women bring to leadership roles in smaller public companies.
Women Entrepreneurs: A Surge in Business Ownership
Women entrepreneurs are continuing to grow their influence, with a 41% year-over-year growth rate in 2024, surpassing their male counterparts by 25%. As of 2024, there are approximately 13.5 million women-owned businesses in the U.S., a dramatic increase from 402,000 in 1972. Women now own 34% of all small businesses and franchises, driving substantial economic impact.
Private Companies: A Notable Jump in Women Leaders
In private companies valued at over $1 billion, women’s representation saw a 118% increase from 2023. Prominent women CEOs include Deb Liu at Ancestry.com and Beth Ford at Land O’ Lakes, demonstrating that leadership opportunities for women are expanding, especially in privately held organizations.
A Shift in Boardroom Culture
The report also underscores that there has been a shift in how boardrooms approach leadership. As businesses continue to embrace diverse perspectives, we’re seeing a broader acceptance of women in top executive roles. The societal shift toward greater inclusion in the C-Suite is creating new opportunities for women across industries.
“The progress may not always be linear, but the shift is happening,” added Young. “We’re seeing more women in leadership than ever before, and companies are increasingly aware of the value that diverse leadership brings. This is a moment to continue pushing forward.”
WBC remains committed to tracking and advocating for gender equity in leadership, pushing for systemic changes that ensure sustained growth in the number of women CEOs.
A panel discussion on the CEO Report will be featured on Wednesday, September 25, 2024, during the WBC’s Action for Impact Annual Summit. The panel, moderated by Kevin Cirilli, Founder of mtf.tv’s Meet the Future, will include Jennifer McCollum, President and CEO of Catalyst; Anna Mok, President of Ascend, and Gwen K. Young, CEO of Women Business Collaborative (WBC). That panel begins at 11:55am EDT.
For more information on the Summit, please visit https://wbcollaborative.org/wbc-events/wbc-action-for-impact-summit/
The full 2024 Women CEOs in America Report can be downloaded at:
https://wbcollaborative.org/women-ceo-report/
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About Women Business Collaborative (WBC)
The Women Business Collaborative (WBC) is an unprecedented alliance of more than 85 women’s business organizations and hundreds of business leaders building a movement to achieve equal position, pay, and power for all women in business. Through collaboration, advocacy, action, and accountability, we galvanize thousands of diverse professional women and men, business organizations, public and private companies to accelerate change. For more information on the Women Business Collaborative visit wbcollaborative.org.
