The competition to be listed among Fortune’s Most Powerful Women has stiffened a bit this year. Recognizing how global business has become, Fortune decided to compile domestic and international lists of top female leaders.
However, in some ways, this year’s top 10 list is similar to last year’s with a few exceptions.
For the second year in a row, the president of CVS Health has entered the 1st position and CEO Karen Lynch, who leads the top Fortune 500 and Global 500 companies ever led by a woman. On his watch – he took the reins in February 2021 – the company’s revenue rose 9% and its stock price gains (up 42%) well outperformed the S&P 500. CVS, on the other hand, remained a major player in the fight against Covid and Lynch established a mental health program to prevent suicide among Aetna members.
Close behind Lynch are once again Julie Sweet, president and CEO of Accenture (No. 2); Jane Fraser, CEO of Citi (No. 3); and Mary Barra, Chairman and CEO, GM (No. 4).
But 5th place went to Jessica Tan, Co-Director and Executive Director Owned by Ping An Insurance (Group) Company of China, Ltd, which is the 25th largest insurance company in the world. Fortune says that despite China’s Covid lockdowns and “consumer sentiment”, Ping An under Tan’s leadership beat profit expectations in the first half of 2022 and aims to achieve carbon neutrality by 2030.
New to Fortune’s top 10 household list last year is Emma Walmsley, CEO of global pharmaceutical manufacturer GSK. He spun off his company’s $13 billion consumer health unit. “This leaves the now exclusively pharma-focused GSK with a wealth of cash to invest in promising drug and vaccine candidates,” Fortune noted.
Two executives, on the other hand, remained among the top 10 last year: Thasunda Brown Duckett, President and CEO of TIAA; and Ruth Porat, Alphabet’s senior vice president and chief financial officer. But neither fell far, finishing 11th and 12th, respectively.
Here are the top 10 female CEOs on Fortune’s 2022 Most Powerful Women list:
1. Karen Lynch, President and CEO of CVS Health
2. Julie Sweet, chair and Accenture CEO
3. Jane Fraser, CEO of Citigroup
4. Mary Barra, President and CEO, GM
5. Jessica Tan, Ping An Insurance Executive Director and Co-Director
6. Carol Tome, CEO of UPS
7. Rosalind Brewer, CEO of Walgreens Boots Alliance
8. Emma Walmsley, CEO of GSK
9. Gail Boudreaux, Elevance Health, President and CEO
10. Abigail Johnson, Chairman and CEO, Fidelity Investments
(For more on each of these executives, here’s Fortune Complete Top 50 List The most powerful women in business. Consider a subscription is required.)