The “Hello, My Name Is…” sticker likely still reads “John” if you’re a CEO of an S&P 500 company, though “Jennifer” is now a possibility, too.
That was one upshot of Bloomberg’s breaking news in March that the number of women CEOs leading S&P 500 companies is now at the highest marker in the 68-year history of corporate rankings. And while it’s certainly a data point worth noting, it’s a dubious progress marker since females still only make up just over 10 percent of the list (and women in general make up nearly half of the US workforce).
So what does this have to do with John? And Jennifer?
In 2015, economist Justin Wolfers began compiling a “Glass Ceiling Index,” in which he counted the ratio of women CEOs compared to male CEOs named James, Robert, John or William. (Wolfers also looked at what he called “traditional” Western or European names, too, as a diversity marker – or lack thereof as it currently stands.) He found that women as a group first outnumbered men named John on the S&P 500 list in 2018, though the “victory” was a bit hollow as the women were then in a deadlock ratio with CEOs named James. (There’s always another guy with a “J” name, apparently.)
Finally, in 2023, women Fortune 500 CEOs have officially outnumbered men with any single given name.
Furthermore, the Glass Ceiling Index shows some critical mass for one particular woman’s name in executive leadership. Now that 10 new female CEOs have joined the S&P 500 in the past year, there are three Jennifers on the list. (This makes perfect sense to me, as a Gen-Xer who had probably 100 Jennifers in her high school graduating class.)
One of those Jennifers gave her take on the “fun fact” and why C-suite names matter. Jennifer Rumsey, the first female CEO of Cummins (a company where 50 percent of leadership positions are now held by women), stated, “If you look around and don’t see someone who looks like you, it can be intimidating,” said Rumsey, “People can question whether they belong in leadership.”
Also worth noting: part of the reason “John” is no longer the consolidated favorite CEO name is because non-Western, non-Biblical names – another marker of diversity – have joined the power list. Reshma Kewalramani, CEO of Vertex Pharmaceuticals, who came to the US from India when she was 11, illustrates this changing face – and names – of CEOs.
So – what will the next power names be? And when?
The most popular girls’ names in 2005 – when the majority of the Class of 2023 high schoolers were born – were Emma, Madison, and Olivia. I’m rooting for those girls to gain serious ground on the Glass Ceiling Index in the next few decades. Of course, Jacob and Jack were in the top five boys’ names in 2005, too. Which is OK. As long as the Emmas, Madisons and Olivias – and maybe some of their global counterparts – catch up to those “J” names at a rate higher than 10 percent. Fortunately, the trend line is on “her” side, which means more and more workplaces will eventually derive benefits from diverse, inclusive and gender-balanced leadership teams.