Just 1% of Fortune 500 companies led by Black chief executives: World Economic Forum

Just one per cent of Fortune 500 companies are led by Black chief executives, Managing Director at the World Economic Forum (WEF), Saadia Zahidi said. Bengaluru-headquartered information technology services major Wipro Limited on Wednesday announced that it has joined the Partnering for Racial Justice in Business initiative launched by the WEF to promote a culture of diversity, inclusion, equity and justice for people of all racial backgrounds in the workplace.

"With just one per cent of Fortune 500 companies led by Black chief executives, the need to tackle racial under- representation in business is urgent and obvious," Zahidi was quoted as saying in a Wipro statement.

To design racially and ethnically just workplaces, companies must confront racism at a systemic level, addressing not just the structural and social mechanics of their own organisations, but also the role they play in their communities and the economy at large, she said.


"The 'Partnering for Racial Justice in Business initiative' provides an effective platform for businesses to take individual and collective action towards racially and ethnically just workplaces," Zahidi said.

Wipro said the initiative is aimed towards driving action and accountability for companies to confront racism at a systemic level, set new global standards for racial justice in business and accomplish necessary policy changes for inclusion and advancement of professionals with under-represented racial and ethnic identities.

Chief Executive Officer and Managing Director, Wipro Limited, Thierry Delaporte, said, "Without a doubt, we must be inclusive in our hiring process, create new platforms to engage with employees and alleviate existing racial tensions, encourage racial empathy, and cultivate a fully inclusive and welcoming workplace."