10 Predictions for 2023: No. 10 - Black Women In Charge
In 2023, we’ll double the number of black women Fortune 500 CEOs from two to four, and a number of high-profile organizations in civil society and business will put black women in the top position.
(I’m making 10 predictions for 2023. Find the links to my others at the bottom of this post.👇🏿 )
In December, when Harvard named Claudine Gay as its new president, I wrote that her selection was a harbinger of 2023 as the year of the black woman chief executive:
2023 is shaping up to be the year of the Black woman leader.
Harvard University named Claudine Gay as its Black woman president. She is Harvard’s first Black president and second woman.
I attended Harvard Kennedy School for graduate school but never crossed paths with Gay.
While I wasn’t following the search closely enough to hear her name on the shortlist, my money was on Harvard choosing a Black woman.
We’re at a unique cultural moment in America. I predict that a historically large percentage of highly influential cultural, political, and academic institutions will recognize the need to prioritize qualified black women in their succession plans.
I’m still developing this thesis and seeing if the data supports this, but I think 2023 could be the year of the black woman president/CEO.
To be clear -- the numbers are still paltry and black women are underrepresented in virtually every arena of global institutional leadership.
But also:
✅ Black women made record gains in American corporate boardrooms in 2021. I expect the data will show the same for 2022.
✅ Ketanji Brown Jackson became the first black woman appointed to the United States Supreme Court in 2022.
✅ 2021 saw a record two black women become CEOs of Fortune 500 companies.
I’m not predicting a dramatic change in the numbers overall...at least not in the next year.
Still, I predict that a disproportionately high number of especially influential and high-profile organizations will appoint Black women leaders in 2023.
In 2023, we’ll double the number of black women Fortune 500 CEOs from two to four, and a number of high-profile organizations in civil society and business will put black women in the top position.
Here are some organizations to watch:
Think Tanks. In October, Richard Haass said he would step down as the president of the Council on Foreign Relations, the think tank most at the center of the U.S. foreign policy establishment. During Haass’ tenure, much of the Council’s focus has been on modernizing the organization and its membership. What better way to continue that work than hiring its first black woman president? Aside from CFR, many of Washington’s most influential think tanks have long-tenured leaders who may be looking to step down this year. The most forward-thinking among them should have black women on their succession shortlist.
Law Schools and Business Schools. Roughly 30 black women are leading U.S. law schools. None of them are at top 20 schools. Among business schools, data is more challenging to find. Less than 5% of business school deans in the U.S. are black. The vast minority of those are black women. Among the top 20 business schools, Wharton’s Erica James is the lone black woman. I predict that a top 20 law school will get its first black woman dean this year. I also expect another black woman to join James as dean of a top 20 business school.
Intergovernmental Organizations. Few black women are leading any of the world’s major multilateral organizations (i.e., the United Nations, the World Bank, the World Health Organization, etc.). In 2021, Ngozi Okonjo-Iweala became the first woman and first African to lead the World Trade Organization. In 2023, we’ll see at least one other black woman join these ranks.
If there are other specific organizations or categories or organizations that you think are poised to appoint a black woman chief executive, please let me know.
I’m making 10 predictions for 2023. Read my others below.
#3 - The Elon Musk Portion of Twitter’s Saga Will Come to an End in 2023
#10 - Black Women In Charge