{"id":3317,"date":"2023-06-30T08:07:06","date_gmt":"2023-06-30T08:07:06","guid":{"rendered":"https:\/\/mysourcefunding.com\/leadership\/black-fortune-500-ceos-reach-another-record-high-just-weeks-after-setting-previous-record\/"},"modified":"2023-06-30T08:07:06","modified_gmt":"2023-06-30T08:07:06","slug":"black-fortune-500-ceos-reach-another-record-high-just-weeks-after-setting-previous-record","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=3317","title":{"rendered":"Black Fortune 500 CEOs reach another record high\u2014just weeks after setting previous record"},"content":{"rendered":"

Nine Black CEOs now lead Fortune 500 companies, setting a new record just weeks\u00a0after\u00a0Fortune\u00a0<\/em>marked eight\u00a0earlier this month.<\/p>\n

\n

On Monday, Dave Bozeman\u00a0became CEO\u00a0of transportation and logistics company C.H. Robinson. Bozeman joins from Ford Motor, where he served as vice president of its customer services division and Ford Blue\u2019s enthusiast vehicles unit for less than a year. Before that, he served as vice president of Amazon\u2019s transportation services for over five years,\u00a0leading\u00a0supply chain optimization for customer delivery across the e-commerce giant\u2019s global operations. There, he was instrumental in building its middle-mile global transportation network.<\/p>\n

\u201cI couldn\u2019t be more excited about working with the incredible Robinson team as we embark on this next chapter of growth and success together. We will be building on a strong existing foundation, and the sky is the limit,\u201d Bozeman\u00a0wrote\u00a0on LinkedIn following the announcement of his CEO appointment in early June.<\/p>\n

Bozeman\u2019s addition to the exclusive cohort of Black Fortune 500 chief executives is an optimistic sign that companies appear committed to increasing diversity in their highest ranks. Still, Black professionals only make up 1.8% of Fortune 500 CEOs\u2014a far cry from the 56 additional corner office spots needed to reach parity with Black America\u2019s 13% labor force\u00a0participation rate.\u00a0<\/p>\n

\u201cThere are a plethora of talented, qualified, extraordinary leaders who happen to be Black. It\u2019s never a surprise when they advance to the C-suite, or even to the CEO position,\u201d Laura Morgan Roberts, an associate professor of business administration at the University of Virginia\u2019s Darden School of Business,\u00a0told\u00a0Fortune\u00a0<\/em>earlier this month. \u201cIt says more about the company\u2019s and the board of directors\u2019 ability to recognize, develop, and advance talent from all backgrounds than it says about the representation of leaders themselves.\u201d<\/p>\n

Bozeman joins C.H. Robinson during a tumultuous period. The Eden Prairie, Minn.-based company has faced\u00a0declining revenue\u00a0amid waning demand for transportation services, resulting in\u00a0two rounds\u00a0of layoffs since November 2022. It\u2019s also in an ongoing fight with activist investor Ancora Holdings Group, which has pressured the company to\u00a0sell off\u00a0its international freight forwarding unit. The company\u00a0ousted\u00a0former CEO Bob Biesterfeld in early January, while board chairman Scott Anderson stepped in to serve as interim CEO.\u00a0<\/p>\n

C.H. Robinson\u00a0ranked\u00a0at No. 160 on this year\u2019s Fortune 500 list, dropping from No. 154 in 2022. It brought in $24.6 billion in revenue in its last fiscal year.<\/p>\n

Reactions to Bozeman\u2019s appointment have been mixed. Shares fell 5.3% after his appointment was first reported in early June, but some industry experts have\u00a0suggested\u00a0his experience at Amazon and industry-outsider status may help the company out of its slump. For his part, Bozeman\u00a0told\u00a0the\u00a0Wall Street Journal\u00a0<\/em>that shareholders and activists would \u201csay it\u2019s the right company, with the right leader, at the right time\u201d once they better understand his experience in \u201cdriving scale and building teams\u201d and start seeing results.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nine Black CEOs now lead Fortune 500 companies, setting a new record just weeks\u00a0after\u00a0Fortune\u00a0marked eight\u00a0earlier this month. On Monday, Dave Bozeman\u00a0became CEO\u00a0of transportation and logistics company C.H. Robinson. Bozeman joins from Ford Motor, where he served as vice president of its customer services division and Ford Blue\u2019s enthusiast vehicles unit for less than a year. […]<\/p>\n","protected":false},"author":1,"featured_media":3318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[76],"tags":[],"class_list":{"0":"post-3317","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-leadership"},"yoast_head":"\nBlack Fortune 500 CEOs reach another record high\u2014just weeks after setting previous record | Brandiary<\/title>\n<meta name=\"description\" content=\"Nine Black CEOs now lead Fortune 500 companies, setting a new record just weeks\u00a0after\u00a0Fortune\u00a0marked eight\u00a0earlier this month. 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