The competition among the most powerful women in the Fortune magazine ranking got tougher this year. In recognition of the way global business has turned, the magazine decided to merge its local and international lists of top international businesses Female corporate leaders.
In general, this year’s top ten list is similar to last year’s list with some exceptions.
No. 1 for the second year in a row was CVS Health CEO Karen Lynch, who leads the largest Fortune 500 and Global 500 company ever run by a woman. After taking the helm in February 2021, the company’s revenue jumped 9% and its stock earnings (up 42%) outperformed the S&P 500 index. The company has played a pivotal role in responding to the COVID-19 pandemic, while Lynch has launched a mental health program to help prevent suicides.
Julie Sweet ranked again behind Accenture CEO Lynch, Citi CEO Jane Fraser came third, and GM CEO Mary Barra came fourth.
But fifth place went to Jessica Tan, co-CEO and CEO of Ping An Insurance (Group) of China, the 25th largest in the world.
Fortune notes that despite China’s COVID-19 shutdowns and “flawed consumer sentiment”, Ping An under Tan’s leadership has exceeded profit expectations in the first half of 2022, and aims to achieve carbon neutrality by 2030.
Emma Walmsley, CEO of global drugmaker GSK, is also new to the top 10 women’s list compared to last year’s local Fortune list. She fired her company’s $13 billion consumer health unit. “This leaves GSK, which is now exclusively focused on pharmaceuticals, with a pile of money to invest in promising drug and vaccine candidates,” Fortune said.
Meanwhile, two names dropped from the top ten list from last year are Thasonda Brown Duckett, CEO of TIAA; and Ruth Porat, Senior Vice President and CFO of Alphabet. However, they ranked No. 11 and 12, respectively.
Here are the 10 most powerful female CEOs on the Fortune 2022 list:
1. Karen Lynch, CEO, CVS Health
2. Julie Sweet, CEO, Accenture
3. Jane Fraser, CEO, Citigroup
4. Mary Barra, CEO, GM
5. Jessica Tan, CEO and Co-CEO, Ping An Insurance
6. Carol Tomei, CEO of UPS
7. Rosalind Brewer, CEO of Walgreens Boots Alliance
8. Emma Walmsley, CEO of GSK
9. Gilles Boudreaux, CEO, Elibility Health
10. Abigail Johnson, CEO, Fidelity Investments