African-American CEOs still rare
McDonald's promotion of Don Thompson will make him one of six black CEOs of a Fortune 500 company.
March 23rd, 2012
07:00 AM ET

African-American CEOs still rare

By Chris Isidore, CNNMoney

New York (CNNMoney) - The United States government now has a black chief executive. But 99% of the nation's largest businesses do not.

When Don Thompson assumes his new title as CEO of McDonald's (MCD, Fortune 500) on July 1, a promotion announced Thursday, he will be only the sixth active African-American CEO at a Fortune 500 company.

Thompson, who is currently No. 2 at the fast-food chain, will join Kenneth Frazier of Merck (MRK, Fortune 500), Kenneth Chenault of American Express (AXP, Fortune 500), Ursula Burns of Xerox (XRX, Fortune 500), Clarence Otis of Darden Restaurants (DRI, Fortune 500), and Roger Ferguson, who heads privately held TIAA-CREF, as the African-Americans in the nation's top 500 corner offices.

Read the full story on CNNMoney

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