Black Enterprise Published By: Sharelle Burt
According to Forbes, there will be a record number of Black CEOs running Fortune 500 companies. Chris Womack has been named the next CEO of utility giant Southern Company, the first Black person to sit in that seat. Days prior to the announcement, Calvin Butler got the job as CEO of Exelon Corporation, the largest electric parent company in the United States.
“The day it happened I sent Chris a text and said, ‘I’m proud for you, and I’m happy for us,’” said Butler, a longtime friend of Womack. “Chris is one of those people who’s been around the industry a lot longer than me, and he represents an opportunity that should have existed a long time ago.”
Butler and Womack aren’t the only ones with a seat at the table: Lloyd Yates became CEO of utility NiSource last year; Rosalind “Roz” Brewer at Walgreens Boots Alliance; Marvin Ellison at Lowe’s; Rene Jones of M&T Bank; Craig Arnold at Eaton; and Frank Clyburn of Flavors & Fragrances.
According to a study at Guilford College in North Carolina, 16 Black CEOs were hired between 2000 and 2020. One interesting fact is that three of the C-suite level executives are in the utility industry, where Black men are more known for wearing hard hats. Read more
