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Where is the next generation black CEOs who will fill the corner offices at some of the top companies in America?
Black CEOs in training might be in the fifth grade. And it's time to get them ready.
Earlier this month, Stan O'Neal retired from Merrill Lynch & Co. and Time Warner Inc. Dick Parsons' announced that he too will retire at the end of the year, which will leave just four black CEOs running Fortune 500 Companies.
Alfred Edmond Jr., editor-in-chief of Black Enterprise magazine told The Associated Press that "The bulletproof CEOs of the '80s -- those days are long gone, even for white men." He predicts there will be a dozen black CEOs or so in 20 years.
"The numbers are so small that any improvement will seem like a giant leap forward," he said.
After all, in 1995 there were no African American CEOs on the Fortune 500 roll. At that time, it was easier just to say, "Oh, corporate America is a white man's world and always will be."
So how can we get 50 black CEOs in the top 500? Like anything, you have to catch them while they are young. Sadly, there are only rare opportunities for this to take place.
Recently, Percy Miller (aka Master P) launched MoCo U, a site dedicated to showing young people how to build wealth. And about 10 years ago Black Enterprise started the annual Kidpreneurs Conference, which teaches children the fundamentals for creating, operating, and maintaining a business.
Kids become what they see. And if we want children to become CEOs, from kindergarten through college, we have to spend more time exposing them to the profession, teaching them about being business minded entrepreneurs and spend less time exposing them to sports and entertainment careers that can be a gamble, at best.
And it's not just the top 500 companies we should help them aspire for.
After Parsons resigns there will be only four black CEOs of Fortune 500 companies: Aylwin Lewis, Sears Holdings; Kenneth Chenault, American Express; Ronald Williams, Aetna; and Clarence Otis, Darden Restaurants.
Let's challenge them to find the next generation of CEOs and start recruiting their proteges to fill their shoes.
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Comments: (28)
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By: G REDD on 11/15/2007 7:20PM
I HAVE ARRIVED AT A POINT IN LIFE WHERE I CAN BE
VERY ANALYTICAL ABOUT THIS ISSUE. I HAVE ALWAYS
BEEN TAUGHT AND CAN NOW SAFELY SAY THAT WHATEVER
GOAL YOU SET FOR THE COMING GENERATION ARE SUBJECT
TO THE WHIMS OF NATURE AND THE HANDS OF TIME. CEOS
ARE NOT MADE THEY ARE BORN. WHILE IT IS TRUE THAT
EXPOSURE TO CERTAIN STIMULI WILL PREDESPOSE YOU TO
PARTICIPATE IN CERTAIN ACTIVITIES, SOME THINGS MUST
BE INHEIRENT. I HAVE A 37yr old SON. AS A CHILD I
EXPOSED HIM TO AS MANY CULTURAL PURSUITS AS I COULD
HE HAD THIS GREAT PASSION FOR ELECTRONICS, HE WON
PRIZES IN CITY WIDE COMPETITION IN SCIENCE FAIRS.
THE MILITARY TRIED TO RECRUIT HIM FOR A CAREER IN
MICROWAVE TECHNOLOGY. THIS WAS OUT OF HIGH SCHOOL.
HE WENT TO COLLEGE, HIS MAJOR WAS COMPUTER SCIENCES
TODAY MY SON IS A SCHOOL TEACHER AND HE LOVES HIS
JOB. HE TAKES PRIDE IN HIS CHOSEN FIELD. HE ALSO
COACHES 2 SPORTS AND SERVES AS ATHLETIC DIRECTOR.
HE TEACHES 3RD GRADE AND I ASK HIM WHY 3RD GRADE
AND HE SAID BECAUSE THAT'S WHEN THEY START TO CHANGE. MY POINT IS SIMPLE YOU CAN LEAD THE HORSE
TO WATER, BUT YOU CAN'T FOOL MOTHER NATURE. THAT MY
SON ENJOYS SHAPING YOUNG MINDS AS A BLACK MALE
ROLL MODEL IS JUST AS IMPORTANT IF NOT MORE THAN
IF HE WERE CEO OF MICROSOFT, TO ME. HE CAME IN
BEAMING ONE DAY THIS PAST SUMMER. I ASK HIM WHAT
WAS UP. HE HAD JUST RECEIVED A HIGH SCHOOL GRADUATION INVITATION FROM A STUDENT IN HIS FIRST 3RD GRADE CLASS. WE NEED GOOD TEACHERS AND WE WILL GET THE THE QUALITY OF EDUCATION NECESSARY TO TURN
OUT THOSE CEOS.BE WELL AND "GOD" BLESS YOU. ("G")
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By: Cheryl Faison on 11/15/2007 9:19PM
I agree with a lot of what was said, but there are a number of factors that seem to be missing. As one writer said, our young people go for the "in your face" action, such as drug-selling, rapping and basketball playing." Are we offereing alternatives. How many of these CEOs take the time to mix with young inner-city youth before they get to old to care. Believe it or not 13 is too old, so eighth grade is way to late. They need to believe things can happen long before that time. I worked in a law office where the wife of one of the above CEOs was an attorney. I had two sons ages 12 and 10 who came to my office every day after school. My 12 year old wanted to be a lawyer or an architect. He told the lawyers at the firm of his desire. Who took him under their wing -- 12 white lawyers, not one black, despite the fact that they saw him every day for more than 4 years. They took him to a number of activities, helped him write papers for school and generally tried to assist him in any way they could. What would it have taken for the blacks to get involved? He learned a lot, but not from people who looked like him.
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By: trisha on 11/16/2007 2:11AM
WE NEED TO TAKE OUR CHILDREN BY THE HAND AND EDUCATE THEM OUR SELF AS ON THE JOB TRAINING AND LET THEM SEE WHAT WE DO AND SEE IF THIS IS SOMETHING THEY WANT TO DO LET THEM SPEND A YEAR AFTER HIGH SCHOOL IN A OFFICE OR A CORPORATION OR WHAT EVER INTEREST THEM AND LET THEM KNOW FOR SURE WHAT THEY ARE GOING TO COLLEDGE FOR BECAUSE SOME GO RIGHT AFTER HIGH SCHOOL FOR FOUR YEARS AND HAVE NOT MADE UP THERE MIND WHAT THEY ARE GOING TO BE OR DO JUST WASTED FOUR YEARS OF COLLEDGE AND COME OUT JUST AS CONFUSED AS THEY WENT IN BY THEN THEY HAVE USED THERE COLLEDGE FUNDING ON GYM CLASS PHYSICAL EDUCATION AND COULD HAVE DID THAT FOR FREE. LETS BE EDUCATED BEFORE COLLEDGE SO WE KNOW WHAT WE ARE MAJORING IN AND WHAT KIND OF DEGREE WE NEED FOR THAT JOB THAT IS SO APPEALING TO YOU AND STOP WASTEING OUR RACE AND PARENTS MONEY A MIND IS A TERRIABLE THING TO WASTE AND SO IS THE MONEY.
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By: Doug on 11/18/2007 10:15PM
How does someone rise to the ranks of CEO of a major 500 company ? It is just shear hard work ? the answer is no. There are many knowledgeable talented african americans who are managers and Vice presidents. The glass ceiling does still exist, and it's only the ones that have forged strategic key relationships with key top mamanegment at a company will be considered for a top position such as CEO. There are a lot of factors at work here, it's not just about hard work or having an MBA, because there are thousands of people out there who fit in that category. Many at the upper levels of management people get there from being "hooked up" quite frankly. As an african american in management, I have seen where people of color in upper managemnet just don't care to look out for or mentor a strong lower level mamager of color, because of how it would be perceived by their peers. Or, they may have the attitude that they fought to get there and nobody helped them. Are these outgoing CEO's mentoring anyone in their camp ? Or will the next CEO be one of the board member's weekend golfing buddy ?
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By: Bell on 11/16/2007 7:33PM
Terrence,
You couldn't be more wrong about affluent white neighborhoods across the street from trailer parks. You obviously haven't been in my neck of the woods. :)
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By: John H. Montgomery Jr. on 11/16/2007 11:21PM
lETS CUT THE B.S. WHITE CEO'S DO IT ALL THE TIME. THEY GET A PROMISING PERSONS AND BRING THEM UP ALONG WITH THEM.EVEN IN THE MILITARY YOUNG OFFICERS ARE ON FAST TRACK BECAUSE THEY ARE WITH THE RIGHT PERSON AT THE RIGHT TIME. THESE CEO'S GET IN THE WHITE WORLD AND ARE AFRAID TO SHOW FAVORTISM WHEN WHITES DO IT ALL THE. EDUCATION DOESN'T MEAN A DAMN IF THERE ARE NO ONE OPENING DOORS. IT'S LIKE , I GOT MINE, YOU GET YOURS.
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By: William Granville, Jr. on 11/19/2007 1:11PM
From: George:jackm93@comcast.net
To: Bill:brogram@aol.com
Re: Black Men Missing
America Has Lost a Generation of Black Boys
"There are more Black men in prisons and jails in the United States (about 1.1 million) than there are Black men incarcerated in the rest of the world combined." They have come from a life of incarceration.
George,
Yes, how can we develop the talent needed, given the diminishing supply of young blacks by them being caught up in jails/prisons.
Indeed, this is why the project of "The Business of Jails and Prisons" is on the agenda for the Granville Academy Annual Youth Conference, March 27-30, 2008. We want to delve into this matter more deeply. At the November 12 meeting of the Academy in Princeton, we had a former inmate, who had spent 17 years in prison, share his “life behind bars" experiences with our students. It shocked them, and is something they will deeply think about as they move thru life.
Hopefully,this message and one of alternative lifestyles can be spread more universally in our community. Students need to understand that there are many alternatives for them in the economic mainstream,including the world of big business.
William Granville, Jr.
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By: jc on 11/24/2007 7:30PM
People,we as blacks spend alot of time worrying about climbing the ladder up corporate america .I do undrstand that not all of us are cut out to create our own companies and be CEO'S.But in order for our children to make a mark for the survivor of our people they must be able to create and maintain companies.They must be able to challenge that raw energy toward controlling their own destiny.If we teach our children to take control at an early age and be responsible toward understanding the economics of business and maybe just maybe we will revive the glory days of "BLACK WALLSTREET".But it start now.
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