The 52-year-old TIAA CEO SPOKE The Wharton School graduated in 2023 that from childhood, he honed one of his most important skills as a leader: his character.

“What I know now, as a leader, is that I rent my title, I own my character,” he SAYS.

Duckett is the first woman to lead the $46 billion insurance company after taking over in 2021, and is one of only two black women currently serving as chief executives of the Fortune 500. In 1987, Duckett’s predecessor, Clifton Wharton made history as the first Black CEO of a major US corporation when he led the TIAA. However, despite the large size of the company, it was not included in the Fortune 500 at the time.

The famous annual Fortune 500 list ranks the largest US company by revenue, representing approximately two-thirds of US GDP. Since his debut in 1955, the Fortune 500 THERE traced more than 2,000 CEOs have come and gone.

However, underrepresented groups make up a small percentage of leadership. Women have 11% of CEO positions on the Fortune 500 list, accounting for about 55 companies, and a total of 28 chief executives are Black.

Among the current Fortune 500 cohort, only 10 Companies today are led by Black CEOs, who represent only 2% of the largest corporations in the US. This is a record high, and will double by 2021. Fortune 500 companies led by Black CEOs collectively generated $412 billion in total revenue and have a combined market value of $428 billion.

Today, leaders of Fortune 500 companies control $19.9 trillion in revenue and manage 31 million employees, and while the top 10 Black CEOs are new. record, it remains a remarkably small part of corporate leadership. In contrast, the number of Blacks living in the US will increase to 48.3 million by 2023, 33% from 2000, according to Pew Research Center.

A 2021 McKinsey study which analyzed data from 24 companies comprising approximately 3.7 million employees, found Black employees were represented in entry-level positions, but there was a significant underrepresentation at the managerial level. The study revealed Black employees make up 14% of the total workforce, but only 7% of managers—half of their entry-level representation. At the VP, SVP, and senior manager levels, black representation has declined further to between 4% and 5%, according to the report.

But who are the executives behind the desk? Meet the Black CEOs who run the nation’s largest companies.

1. Peter Akwaboah

Company: Fannie Mae

Years as CEO: 0.3

University attended: bachelor’s degree in civil engineering, University of Birmingham, England

Peter Akwaboah serving as acting chief executive officer of Fannie Mae after former CEO Priscilla Almodovar resigned in late 2025. Fannie Mae ranked No. 25 in the Fortune 500 list.

2. Marvin R. Ellison

Company: Lowe’s

Years as CEO: 7.6

University attended: bachelor’s degree in business administration, University of Memphis; MBA, Emory University

Marvin R. Ellison is the president, chief executive officer, and chairman of home improvement giant Lowe’s, located at No. 52 on the Fortune 500 list and AROSE $84 billion in revenue by 2024. Ellison BECOMES CEO of the home improvement company in 2018, after his tenure as CEO of JC Penneymaking him the first Black CEO to lead two different ones Fortune 500 companies.

A graduate of the University of Memphis, Ellison started his career earning just $4.35 an hour as a part-time employee at Batas.

“I don’t have a great pedigree, I don’t have an Ivy League education. I don’t have any stellar international opportunities or stints on my résumé,” Ellison told the FUBU founder and Shark Tank star Daymond John in 2022 interview. “I was competing against all these incredibly talented people on paper; I had to find a way to differentiate myself.

3. Thasunda Brown Duckett

Company: TIAA

Years as CEO: 4.8

University attended: bachelor’s degree in finance and marketing, University of Houston; MBA, Baylor University

Thasunda Brown Duckett is the president and chief executive officer of TIAA, located at No. 98 of the Fortune 500 and reported a revenue of $46 billion by 2024. Duckett was appointed CEO in 2021 and remains one of two Black women to lead a Fortune 500 company.

Reflecting on her role as the first woman to lead TIAA in its more than 100-year history, Duckett emphasized the uniqueness of her position as one of only four Black female CEOs in Fortune 500 history. Xerox CEO Ursula Burns (the first Black woman to lead a Fortune 500 company), ex Walgreens Boots Alliance CEO Roz Brewer, and current SAIC CEO Toni Townes-Whitley. Duckett acknowledged that progress is far from complete.

4. Christopher C. Womack

Company: Southern Company

Years as CEO: 2.8

University attended: bachelor of science in political science, Western Michigan University; masters in public administration; American University

Christopher C. Womack is president, chairman, and CEO of Southern Company, an energy provider ranked No. 161 on the Fortune 500 list. Womack was appointed CEO in 2023.

“I’ve always felt that if I want to see something change, if I want to step up and make a difference, there are certain things I have to do,” Womack said. Tech Talk Business in a October 2024 interviews. “I can’t just teach others. I have a personal responsibility to do that.”

5. Calvin Butler

Company: Exelon

Years as CEO: 3.1

University attended: bachelor of science in public relations and political science, Bradley University; JD in corporate and environmental, Washington University School of Law

Calvin Butler is the president and chief executive officer of Exelon, a company ranked No. 192 on the Fortune 500 list. Butler was appointed CEO in 2023 and has been with Exelon since 2008.

In an October 2024 interview with the Fortune Impact Initiative, Butler shared his advice for the next generation of leaders: “Surround yourself with people who are more talented and smarter than you, and learn from them.”

6. David P. Bozeman

Company: CH Robinson Worldwide

Years as CEO: 2.6

University attended: bachelor of science in manufacturing design, Bradley University; master of science in engineering management, Milwaukee School of Engineering

David P. Bozeman is the president and CEO of CH Robinson Worldwide, a transportation and logistics company. He was appointed CEO in 2023 thereafter OBTAIN the company is from Ford Motorwhere he served as vice president of customer service, and from Amazonwhere he was vice president of transportation services. CH Robinson ranks No. 233 on the Fortune 500.

7. Michael Bender

Company: said Kohl

Years as CEO: 0.8

University attended: bachelor’s degree in economics, Stanford University; MBA in finance, marketing, and management policy, Kellogg Graduate School of Management, Northwestern University

Michael Bender is the chief executive officer of said Kohlwho assumed the role in November 2025 after serving as interim CEO. The company ranks No. 261 on the Fortune 500 list.

8. René F. Jones

Company: M&T Bank

Years as CEO: 8.1

University attended: bachelor of science in management science, Boston College; MBA, University of Rochester’s Simon School of Business

René F. Jones is the chief executive officer of M&T Bankwhich ranked No. 317 on the Fortune 500 list. Jones participated M&T in 1992 under it Executive Associates Programand worked his way up to chief financial officer in 2005, and then CEO in 2017.

In a February 2021 Fortune interview, Jones said: “Job No. 1 is raising the next set of CEOs of the color of the Fortune 500. We always look at the largest companies in the Fortune 500, when, in fact, it may be very reasonable that the next leaders today will sit outside the Fortune 500. And our job is to start looking for them and bring them.”

9. Joey Harris

Company: DTE Energy

Years as CEO: 0.4

University attended: bachelor of science in Industrial Engineering; MBA, Wayne State University

Joi Harris serves as president and CEO of DTE Energywho assumed the role in September 2025 after serving as chief operating officer. DTE Energy rank no. 337 on the Fortune 500.

“I don’t serve nameless, faceless people. I serve my family, my friends, my neighbors, and a community that helped shape me. an interview during the 2026 Detroit Policy Conference.

10. David L. Rawlinson II

Company: QVC Group

Years as CEO: 4.3

University attended: bachelor of arts in political science, The Citadel, The Military College of South Carolina; JD.the University of South Carolina School of Law; MBA, Harvard Business School.

David L. Rawlinson II is the chief executive officer of QVC Groupthe parent company of QVC and HSN. The company ranks No. 416 on the Fortune 500 list. Rawlinson became CEO in 2021.

In a June 2023 interview with Fortune, Rawlinson shared: “Even on the darkest days you have to keep the promise on the other side.”

A version of this story was published on Fortune.com on February 28, 2025.

More Black Fortune 500 CEOs leading the world’s largest companies:

• Lowe’s CEO Marvin Ellison is the only Black chief executive to take the lead two different ones Fortune 500 companies
• In 2021, there will be only four Black CEOs on the Fortune 500 list
• In October 2025, SAIC CEO Toni Townes-Whitley stepped down from her role, leaving only two Black female executives