The Most Powerful African Americans In Cor p o r ate Am e r i c a

Meet 75 exec u t i v es who hold tremendous clout in the world of business, including the 18 who earned CEO positions By Kenneth Meeks

—Additional reporting by Patrice D. Johnson, Carolyn M. Brown, Nkechi I. Olisemeka, Jamila Farwell, Hyacinth Carbon & Tykisha Lundy CONSIDER THEM THE CO R P O R AT E CEO Richard D. Parsons have produced ample shareholder value EL I T E — an excl u s i v e club of high-powere d and revenue growth in the face of brutal competition, market black exec u t i v es who determine the billion- volatility, and the economic malaise that followed 9-11. Observers dollar bottom lines and market values of await the performance of newcomers like Clarence Otis, CEO of the wor l d ’ s large s t cor p o r ations. the $4.6 billion Darden Restaurants, and Alwyn Lewis, presi- Just who are these dynamos? BLACKENTERPRISE’s Most Pow- dent of the $55 billion Sears Holdings Corp. erful Blacks in Corporate America. These 75 men and women rep- Recently, a number of executives have been wrestling with resent the highest-ranking executives from the 1,000 largest major challenges or structuring colossal deals. For example, domestic and international corporations publicly traded on U.S. at press time, Fannie Mae CEO Franklin D. Raines, who had equities markets. All are either within striking distance of the to contend with federal regulators investigating the $53.8 CEO’s chair or operate a major revenue-generating subsidiary or billion mortgage company’s accounting and management unit. Most manage thousands of employees and control billion- practices, was in danger of losing his job. Oracle Co-president dollar budgets. (See box for selection criteria.) Charles Phillips Jr. recently closed a $10.3 billion merger with For 17 years, BE has identified members of this exclusive club. Pe o pleSoft Inc., and high-tech deal maker Thompson orchestrated In 1988, our first list of the 25 Hottest Corporate Managers was Symantec’s $13.5 billion bid for VERITAS Software. devoid of black chief executives. In 1993, among the 40 African This year’s list reveals more women at the top. For example, Americans we found at the top tier, there were 12 presidents and Young & Rubicam Brands CEO Ann M. Fudge represents one of two CEOs: Richard D. Parsons, then the CEO of Dime Savings three female chief executives. “I think African American women Bank of New York, and Clifton R. Wharton Jr., CEO of TIAA-CREF have met the challenges of corporate America,” she says, “and and the first African American to head one of the 1,000 largest absolutely there is no doubt that there will be an African American publicly held corporations. On our 2000 list of the Top 50 Blacks woman running a Fortune 500 company. It’s going to happen.” in Corporate America, the number of black CEOs grew to six. On Despite a corporate environment that is often inhospitable to this year’s register, the number of African Americans who broke black professionals, these top execs say the number of blacks into the CEO ranks has risen to 18—a phenomenal 300% residing in corner offices will continue to grow. “I think it’s increase—with 26 presidents waiting in the wings. extremely positive that we have a number of African American Their stock as leaders is almost as valuable as their company’s CEOs, presidents, and chief operating officers of major corpora- market value. Take E. Stanley O’Neal, CEO of Merrill Lynch & Co. tions as effective role models,” says Ronald A. Williams, president since 2003. He transformed a stagnant financial services monolith of the $17.9 billion Aetna Inc. “And it helps organizations focus with gargantuan debt and bloated overhead into a lean profit on becoming more of a [meritocracy], where people can be machine. With a laser beam focus and ruthless cost-cutting, O’Neal judged on the basis of the value they create and not on the basis boosted Merrill Lynch’s share price from its nadir of $36.25 to of their race or ethnicity.” $64.89—a whopping 79% increase. Paula Madison, president and general manager of Los Other corporate chieftains have worked similar magic. John W. Angeles-based KNBC and regional manager for two Telemundo Thompson, CEO of Symantec, was named BE ’s 2004 Executive of stations, sums up her philosophy of the advancement of blacks, the Year for good reason. Company shares more than doubled in particularly women, quite simply: “The important thing is to the past year, giving the computer software juggernaut a market continue getting us into the pipeline and have us positioned so value of nearly $19 billion. And over the past few years, others such that as more executive positions become available, we’re poised as American Express CEO Kenneth I. Chenault and Time Warner and ready to take advantage of the opportunities.”

o develop this year’s list, our research team spent several months contacting the 1,000 largest publicly traded companies, international corporations, and leading professional associations. Our team pored over cor- porate documents and performed comprehensive research to identify candidates and review their credentials. Those featured on our list met the following criteria: ■ Each candidate had to functions in areas such be among the highest- as public affairs, human ranking executives with- resources, or diversity. in his or her corporation. Se l e c t i o n Cr i t er i a ■ Each person on our list These men and women [ ] has achieved the status are either on the CEO of chief executive, pres- track, run a major division that makes a significant con- ident, general manager, executive vice president, senior tribution to the company’s revenues, or serve as officers vice president, or another top-ranking position with sig- on their company’s executive committees. nificant management responsibility and budget author- ■ Each executive holds a senior management position ity. Those executives holding the position of general at a publicly traded company or international corpora- counsel within their corporation were excluded from tion with gross revenues of at least $1 billion. this list. ■ Each of the executives has revenue-generating or ■ Each reports to the CEO, office of the CEO/chairman, operating responsibilities, or holds a position critical COO, or the company’s board of directors. to product development and the bottom line. None of ■ Each has had significant influence in his or her com- the top executives have primary responsibility for staff pany and industry. Chief Executive Officers

Kenneth I. Chenault Erroll B. Davis Jr. Reginald E. Davis Chairman & CEO Chairman & CEO CEO, Atlantic Region American Express Alliant Energy Wa c h o v i a Age: 53 Age: 60 Age: 43 Chenault has been Davis heads a $3.1 This graduate of running the execu- billion energy ser- Morehouse College tive management vices provider that joined Wachovia in team of this $25.9 serves more than 3 1985 and has held a billion financial and million customers number of positions travel services giant since early 2001. He worldwide. His tenure appears to be going in the company, primarily in commercial recently oversaw a deal with credit card well: The company’s stock price was at a real estate. As head of the Atlantic region issuer MBNA Corp. to offer consumers 52-week high of $27.64 at the end of 2004. for the fourth largest bank in the country, American Express-branded credit cards. It Davis holds an engineering degree from Davis provides executive leadership to all was the first deal between American Carnegie Mellon University and an M.B.A. retail, commercial, and small business Express and a U.S. financial institution. from the University of Chicago. He was bank operations in New York, New Jer- Company stock was $55.68 a share just first employed at Alliant Energy’s prede- sey, and Connecticut. In 2004, Wachovia, before the 2004 holiday season and had cessor, Wisconsin Power and Light Co. In which has $24.5 billion in overall revenues, reached a 52-week high of $56.60 just a 1998, he took the helm of Alliant, a com- split the management of its retail bank few weeks prior. The New York native and pany that provi d e s its Midwest customers operations, dividing it into northern and Harvard Law School graduate was also with electricity and natural gas. Other key southern groups. Davis’ region stretches as behind the landmark deal with Citibank parts of the business include the interna- far south as to South Carolina. Wachovia to issue co-branded credit cards through- tional energy market and nonregulat- services more than 14 million households out the U.S. starting this year. In 2002, ed domestic energy generation. Davis is a and businesses through some 3,200 finan- Chenault was listed as one of the 10 high- member of the advisory board of the Fed- cial centers and retail brokerage firms. est-paid executives in . eral Reserve Bank of Chicago. Davis is a believer in mentoring and sup- ports various programs at his alma mater.

W. H. “Bill” Easter III Arthur “Art” H. Harper Carl Horton Chairman, CEO & President CEO & President CEO & President Duke Energy Field Services GE Equipment Services The Absolut Spirit Company Inc.

Age: 55 Age: 49 Age: 60 Easter helped turn Harper is at the Horton oversees Duke Energy Field helm of this $4.7 bil- the North American Services, a 2003 ven- lion GE subsidiary, operations of the ture between Duke one of four separate United States’ third E n e r g y and Cono- divisions that were largest distilled spir- coPhillips, into a $7.8 billion giant. The formed when GE Capital split in 2002. He its brand. Under his leadership, Abso- merger created one of the largest natural assumes full responsibility for the entire lut’s business grew in 2003: it sold 4.5 gas distribution companies in the country. operation and financial results of GE million cases of vodka in the U.S. Horton Duke Energy Field Services is the countr y ’ s Pl a s tics Europe, Middle East, India, and spearheads Absolut’s worldwide strate- leading natural gas liquids m a r k e t e r s . Africa. He also oversees GE SeaCo, a 50/50 gic marketing initiatives and serves on a The Denver-based firm has more t h a n joint venture between GE and Sea Con- multinational management team for the 2,500 employees. Last year, C o l o r a d oB i z tainers, one of the world’s largest lessors of brand’s parent company, Sweden-based magazine named it the top company in marine containers. Harper has been V&S Group. Prior to his present posi- the state for improving its operational charged by GE’s CEO, , to lead tion, Horton joined Pernod Ricard in 1980 efficiency. Easter, who joined Conoco the task of turning around the equipment and worked with the Seagrambrand. He in 1971, has had a 30-year career with the management business, which is facing held positions of increasing responsibil- company in the areas of natural gas tough market challenges. Harper is a mem- ity for Seagram’s Gin, Captain Morgan, supply and marketing, energy trans- ber of GE’s corporate executive council. Seagram’s 7 Crown, and Seagram’s VO. portation and refining, and petroleum Prior to his current position, he was an Each brand experienced significant mar- marketing. He has served as a compa- executive vice president and a member of ket share growth under his leadership. ny division manager, general ma n a g e r , the CEO’s office at GE Capital. He joined Prior to Seagram’s, Horton held key exec- managing director, and CEO of Conoco GE Plastics in 1984 as a market develop- utive positions at General Foods, Xerox Jet Nordic in Stockholm, Sweden. ment specialist and also worked as an aero- Corp., and Heublein. space specialist. Ann M. Fudge Chairman & CEO Young & Rubicam Brands, a subsidiary of WPP Age: 52 Location: New York In an industry that focuses on big accounts, great slogans, and adver- tising awards, Fudge may seem somewhat of a misfit. She is not your typical advertising executive—in background or ideology. Since being named chairman and CEO of WPP’s marketing and communications giant in May 2003, Fudge hasn’t emphasized new business or creative savvy. As a result, she has had to fight speculation and doubt as well as a creative culture concentrated on conquests. Fudge has been stead- fastly focused on strengthening the company, which has 540 offices in 80 countries, to function as one multifaceted organization—renaming the company Young & Rubicam Brands to make her point. This move speaks to Fudge’s efforts to create a company that can offer holistic marketing solutions to satisfy the needs of a client looking to enhance brand awareness. Why is the client so important? She used to be one. The former president of the $5 billion Kraft unit for the beverages, desserts, and Post cereals division, made her name in the con- sumer packaged goods industry, reviving product brands that included Minute Rice, Maxwell House, and Stove Top. “It’s about pushing for more,” says Fudge. “I think what I’ve accomplished in the first 18 months has been very stabilizing, getting growth again, which we have accomplished from a profit standpoint.” Right now, Fudge is laying the foundation for growth. “Sustainable change takes at least three to five years.” —Sonia Alleyne

Alwyn Lewis Renetta McCann E. Stanley O’Neal CE O , Sears Retail CE O Chairman, CEO & President President, Sears Holdings Starcom Americas Merrill Lynch & Co.

Age: 50 Age: 46 Age: 53 When Kmart Hold- McCann supervises O’Neal is the top ing Corp. merged with the largest unit of executive for the Sears Holdings in Starcom MediaVest $27.7 billion financial November 2004, Lewis Group, a subsidiary services superpower. became the No. 3 ma n of French media co m - He was given the in the company and CEO of Sears Retail. pany Publicis, and one of the world’s mandate to increase the company’s A month earlier, Lewis had been leading media agencies. Her division profit margin and stock price when he appointed CEO of Kmart, the $26 bil- operates in the U.S., Canada, and Latin became president in 2001 and went on lion retail company and employer of America. McCann is responsible for four to preside over one of the most dra- more than 200,000. The merger is media brands—Starcom, MediaVest, matic restructurings of any Wall Street e x p e c t e d to create the third largest GM Planworks, and StarLink. Some of firm. More than 23,000 jobs were elim- r e t a il e r in the country, generating an her greatest accomplishments include inated, including 19 senior executive estimated $55 billion in annual revenues. doubling her staff to a total of more than positions. In 2003, his compensation Lewis’ stock as a corporate executive is 600 and snagging the Walt Disney was doubled from $14.39 million to skyrocketing. He was recruited from World account, which was worth $600 $28.14 million, a reflection of Merrill YUM! Brands, where he was president million. In 2000, McCann was credited Lynch’s improved performance, which and chief multibranding and operating with empowering her staff to perform so included a 55% rise in its stock price. officer. The Texas native has been a cor- well that Starcom North America had O’Neal launched his career at a GM porate executive for 26 years. Lewis, two consecutive years of 20% growth. assembly plant, graduating from the who received dual bachelor’s degrees in Two years ago, under her leadership, General Motors Institute and winning business management and English lit- Starcom boasted $4.6 billion in billings. a scholarship to Harvard Business erature as well as an M.B.A. from the The Chicago native’s team of employees School, where he obtained his M.B.A. University of Houston, first cut his teeth maintains the lowest turnover rate in He joined Merrill Lynch in 1986 and as a district manager of operations with the industry—a testament to her abili- was one of B E’s Top African Americans the Jack in the Box restaurant chain. ty to grow talent. on Wall Street in 2002. Dan Packer Richard D. Parsons Franklin D. Raines CEO & President Chairman & CEO Chairman & CEO Entergy New Orleans Time Warner Fannie Mae

Age: 57 Age: 55 Age: 55 Packer is the first Parsons continues The $53.8 billion African American in to surprise investors mortgage financing the country to man- with his ability to make company has had its age a nuclear plant. He a profitable entertain- share of trouble—it was develops Entergy’s ment giant out of the the subject of congres- strategic plan and is responsible for the worst merger in the history of corporate sional hearings last year and an ongoing overall financial profitability and opera- America—Time Warner’s marriage to Securities and Exchange Commission inves- tional success of the utility. Packer over- America Online in 2001. He oversees the tigation—but there’s no doubting the lead- sees customer service, product distribu- executive management team of the $43.9 ership ability of its CEO. Operating under tion, transmission, and generation. Entergy billion company, the world’s largest federal charter, Fannie Mae is the largest New Orleans, a division of Entergy Corp., media conglomerate. Time Warner stock nonbank financial services company in the employs 2,500 city residents and serves hovered around $18 in late 2004, but Par- world. Raines has led the company through 190,000 electric customers and 147,000 sons says it’s only because of concerns continuous double-digit operating income gas customers. Prior to joining Entergy, about competition in the cable indus- growth and has made a commitment to Packer was a senior engineer with Gen- try. The company’s other businesses, invest $2 trillion toward financing afford- e ral Physics Corp. and served in the U.S. which include film, interactive services, able housing for 18 million families. Raines Nuclear Navy Program. The Tulane Uni- television networks, cable systems, and describes Fannie Mae as a company that versity M.B.A. graduate is also licensed by publishing are strong performers. Par- helps millions of Americans purchase the U.S. Nuclear Regulatory Commission. sons has devised a three-pronged strat- homes. As Raines seeks to push forward his He currently serves on the boards of orga- egy to expand the company’s f r a n c h i s e s : agenda at Fannie Mae, his track record com- nizations such as the UNO Business of continue to cultivate properties such as municates success: As director of the office Higher Education Council and Bureau of Harry Potter, advance technology in of management and budget under Clinton, Government Research. areas such as interactive TV and down- he helped create the first federal budget sur- loadable music. plus in modern history.

Pamela Thomas-Graham John W. Thompson Lloyd G. Trotter CEO & President, CNBC Chairman & CEO CEO & President Executive Vice President, NBC Symantec Corp. GE Consumer and Industrial

Age: 41 Age: 55 Age: 59 Thomas-Graham, the Thompson became Trotter heads a $13 highest ranking African CEO of Symantec in billion GE subsidiary American in the ul t r a - 1999 and turned it that employs 75,000 competitive cable news into the country’s people in 150 locations industry, continues to largest maker of secu- worldwide. One of GE’s prove she’s worth her weight in gold. In July rity software. Once a producer of tools 11 major businesses, the company was 2001, she was appointed president and CEO and utilities for Windows PCs, Symantec formed in 2004 when GE Industrial Sys- of CNBC, the 24-hour news channel owned is now a $1.4 billion company that tems merged with GE Consumer Prod- by NBC and affiliated with Dow Jones, employs more than 4,300 people. Thomp- ucts. GE Consumer and Industrial is an which generated more than $500 million son’s lucrative deals—including the industry leader in major appliances, light- in revenues. Over the past two years, recent $13.5 billion acquisition of VERI- ing products, and integrated industrial Thomas-Graham has shifted the network’s TAS Software—have made Symantec one equipment and systems. Trotter became focus away from the stock market and of the most valuable software companies president and CEO of GE Industrial Sys- toward analysis of current events and talk in the world and earned him recognition tems in 1998 and was instrumental in shows with high-profile hosts. As a result, as B E’s 2004 Executive of the Year. Prior strengthening the company’s foothold in it has begun to turn a profit on par with its to joining Symantec, the Florida A&M international markets and expanding its performance before the dot-com bust and University and MIT Sloan School of Man- product scope. He began his career in 1970 9-11. A triple Harvard University degree agement graduate had a distinguished as a field service engineer with GE Light- holder (B.A., M.B.A., J.D.), Thomas-Graham, career with IBM, where he held senior ing and assumed his current position in has been breaking new ground throughout executive positions in sales, marketing, 2003. He also serves as chairman of the her career. She became the first black and software development. Since joining National Electrical Manufacturers Asso- woman and the youngest ever to make part- S y m a n t e c , Thompson has further devel- ciation’s Board of Governors and is a mem- ner at the world-class management con- oped its best known product, Norton ber of the board of the National Associa- sulting firm McKinsey & Co. AntiVirus. tion of Manufacturers. Clarence Otis Jr. CEO, Darden Restaurants Age: 48 Location: Orlando, FL When Otis worked as a waiter to help pay his way through Stanford Univer- sity Law School, little did he know that one day he would control some of the largest restaurant chains in the world. Named to the post in December 2004, Otis is CEO of Darden Restaurants, which owns and operates Red Lobster, Olive Gar- den, Seasons 52, Bahama Breeze, and Smokey Bones BBQ & Grill. The seasoned executive runs a mammoth operation with more than 1,300 outlets and 140,000 employees who serve 300 million meals a year. Otis was part of the leadership that helped Darden make the transition from an operating divi- sion to a stand-alone company when it was spun off from General Mills in 1995. He says his job is one of talent management—picking the right people to handle details. Otis focuses on the big picture: maintaining Darden’s position as a glob- al leader in the casual dining industry and keeping competitors such as Out- back Steakhouse, Applebee’s, and Chili’s from chomping into its market share. Despite earning a mouthwatering $231 million on $5 billion in sales for fiscal year 2004, Otis must contend with some rather daunting chal- lenges—like the turnaround of the Red Lobster chain, the 681-unit flagship that has failed to meet customer expectations in service and menu selection. He says, “No matter what a person’s level or function is within a company, he or she needs to understand the basics—how that company makes money.” —Carolyn M. Brown

Top Executives

R.L. “Bob” Wood Quincy L. Allen Paget L. Alves Chairman, CEO & President President, Production Systems Group President, Sprint Business Solutions Crompton Corp. Xerox Corp. Sprint Corp.

Age: 50 Age: 44 Age: 47 Wood took the Driving product- Alves is responsible helm at Crompton in ivity and putting for the SBS strategic January 2004 and clients first have been segment, which con- became the first the hallmark of Allen’s centrates on Sprint’s African American career that began at 100 largest business CEO of a major U.S. chemical firm. Xerox in 1982, when he joined the com- customers, systems integrators, inter- With annual sales of $2.2 billion, pany as an electrical engineer. In 1999, national customers, access and whole- Crompton is a leading producer of he was appointed vice president of sale carriers, and cable ventures. Between polymers, polymer additives, and poly- worldwide customer services strategy. 1996 and 2000, Alves held several senior mer processing equipment. It is also And in 2001, he became senior vice pres- management positions with Sprint. He one of the world’s largest specialty ident of North American Services and served as president of sales and support chemical companies. Prior to joining Solutions. Allen was named to his cur- for the Business Services Group, where Crompton, Wood served as business rent position in October 2004 and is he was responsible for all business and group president for Dow Automotive, responsible for the company’s high-end government customers of Sprint’s long- a $5.5 billion business that produced systems software. He is also responsible distance division. He left Sprint briefly in polyurethane and other chemicals. In for service offerings to the graphic com- June 2000 to become president and chief 1997, he was named business vice pres- munications industry, including pro- executive officer of PointOne Telecom- ident of polyurethane production at duction publishing, transaction printing, munications, an Internet-telephony ser- Crompton, a post that awarded him and enterprise-wide printing—a $4.5 vices provider located in Austin, Texas. global management responsibility for billion business for the company. Allen Alves assumed his current position in the multibillion-dollar business. He also manages the worldwide develop- November 2003. He also appeared on serves on the boards of Jarden Corp. ment and marketing of color and B E’s 2000 list of The Top 50 Blacks in and Praxair Inc. monochrome systems. Corporate America. Brian P. Anderson James A. Bell Y. Marc Belton CFO & Executive Vice President of Finance Chief Financial Officer Sr. VP Yoplait, GMI Canada & New Business Dev. OfficeMax Inc. Bo e i n g General Mills

Age: 53 Age: 55 Age: 45 A corporate finance maven, Anderso n Since January 2004, Keeping Yoplait has a key leadership role in the corporate Bell has been the top one of the leading strategies and execution of the $8.2 billion numbers man at the brands of yogurt in business. In 2003, Boise Cascade pu r c h a s e d $54 billion aerospace the U.S. is just one of OfficeMax supply superstores. Then in and defense compa- Belton’s jobs. He cur- October 2004, the company sold off $3.7 n y . A 32-year veteran of corporate rently oversees four business units, billion worth of its paper, forest products, finance, Bell came to Boeing when the including Yoplait-Colombo, General and timberlands assets, creating a new company purchased Rockwell Interna- Mills Canada, Small Planet Foods, and company called OfficeMax Inc. Prior to tional Corp.'s aerospace and defense 8th Continent (a soy milk product), joining the company, Anderson was senior units in 1996. He joined Rockwell as an which is General Mills’ joint venture vice president and CFO of Baxter Inter- accountant in 1972 and climbed the with DuPont. The Wharton M.B.A. grad- national. Now Anderson helps OfficeMax la d der to executive positions in auditing, uate works closely with top manage- develop strategies that will grow market program management, and finance. ment, developing new business initia- share and fend off competitors such as After Rockwell was acquired, Bell tives. Before he became senior vice Staples and Comp USA.The CPA holds became vice president of contracts and president, Belton held other top posts in an M.B.A. from Indiana University and pricing at former Rockwell units in other divisions in the company, such as sits on the board of directors of WW Southern California. In 2000, he was the snacks division and new ventures. Grainger, where he chairs its audit com- named senior vice president of finance Prior to that he was president of Big G; mittee. Anderson was the inaugural recip- and corporate controller, the No. 2 finan- he ran the company’s $2.3 billion cere- ient of the chief financial officer of the cial management position. He’s proven al business, which includes popular year award from the Chicago chapter of himself a skilled manager who has inti- household brands such as Wheaties, the National Investor Relations Institute. mate knowledge of Boeing’s strategy. Cheerios, and Trix. Belton is a member of the Executive Leadership Council.

D. Steve Boland Thomas K. “Tony” Brown Ursula M. Burns President & Managing Director, LandSafe Inc. Senior Vice President, Global Purchasing President, Business Group Operations & Sr. VP Countrywide Financial Corp. Ford Motor Co. Xerox Corp.

Age: 36 Age: 48 Age: 46 A 15-year veteran of Brown is responsi- Burns joined Xerox the mortgage banking ble for more than $90 as a mechanical engi- industry, Boland joined billion of production neering intern in the Countrywide in 1997 and nonproduction summer of 1980, and as first vice president procurement world- subsequently held sev- and director of Fair Lending and House wide for all eight of Ford’s automobile eral engineering positions in product plan- America. In 1998, he was promoted to brands (Ford, Volvo, Jaguar, Land Rover, ning and development. In 1990, she regional vice president in the consumer Lincoln, Mercury, Aston Martin, and changed gears to become executive assis- markets division. The following year, ). Since joining Ford in 1999, tant to then-Chairman Paul A. Allaire. LandSafe Inc. became a new subsidiary Brown has held various positions, includ- She has since led several teams including of the company, offering a full range of ing executive director for manufacturing the office network copying business and real estate information and closing ser- procurement operations. Ford spent $3.2 the departmental business unit. Today, vices to its parent company and lenders billion in 2003 on products and services she is a corporate senior vice president at nationwide. Today, Boland is president from minority-owned suppliers. During Xerox and president of business group and managing director of its four busi- his tenure, Brown has sought to push that operations. She also heads a $12 billion ness units, a position he assumed in April number higher each year. Prior to joining division that consists of five major oper- 2004. In 2001, LandSafe hit revenues of Ford, he was vice president of supply man- ations: production, office, worldwide man- $129 million. Boland, who holds a bache- agement at United Technologies Auto- ufacturing and supply chain, information lor’s from Northwestern University, was motive, after having served as executive management, and the Xerox engineering the former vice president and national director of corporate purchasing and center. Burns holds a master’s from director of the affordable lending division transportation for QMS Inc., a maker and Columbia University and serves on a num- for Fleet Mortgage Group. provider of network enterprise printing ber of corporate boards. solutions. Donna A. James President, Nationwide Strategic Investments Age: 47 Location: Columbus, OH From Columbus, Ohio, to São Paulo, Brazil, Donna James is on your side— that is, if you’re one of her millions of clients. As president of the strategic investments division, James provides products and services that enable peo- ple to purchase homes, invest for retirement, and finance enterprises. James and her team manage five subsidiaries for the $16.8 billion insurer. These entities generate about $650 million in annual revenues and employ roughly 2,100 people. “We focus on innovations outside of the core businesses,” maintains James. “My job is to find new growth opportunities in financial services that are related to, but can be differ- ent from, what we do today.” Also focusing on small business development, she’s responsible for a port- folio of financial companies in mid- to late-stage development through Nation- wide Mutual Capital, a $150 million venture capital fund. James also serves as a member of corporate executive management. Holding a bachelor’s degree in accounting from North Carolina A&T State University, James previously worked as an auditor with Coopers & Lybrand and as an HMO accounting specialist at Nationwide, which gave her entrance into the insur- ance business. James says her philosophy for success is the same in business as it is in her personal life: stay focused on doing what’s right in any given situation and don’t get caught up in emotion and politics. —Patrice D. Johnson

Frank M. Clark Virgis W. Colbert Samuel Combs III President, ComEd; Exec. VP & Chief of Staff, Exec. VP, Worldwide Operations President & COO Exelon Corp. Miller Brewing Co. Oklahoma Natural Gas Co.

Age: 59 Age: 65 Age: 47 After joining ComEd Colbert told the Combs heads the in 1966, Clark literally authors of C r a c k i n g $1 billion natural worked his way up the Corporate Code: gas distribution divi- the ranks. This Viet- The Revealing Success sion of Tulsa-based nam vet began his Stories of 32 African- ONEOK, which gen- career at the Illinois electric company as American Executives that he felt he’d erated $3.9 billion at the end of a nine- a mailroom clerk and has since been been pigeonholed as a "black manager" at month period in September 2004; rev- re s p o n s i ble for leading several divisions Chrysler, where he was general superin- e n u e s grew 58%. ONG is the largest within the company, including customer tendent of manufacturing. His decision natural gas utility in the state of Okla- services operations, marketing and sales, to become assistant to the plant manager homa, serving 80% of the state’s citi- energy acquisition, and distribution pric- at one of Miller’s North Carolina facilities zens. During his 19-year tenure with ing. Today, as chief of staff for Exelon, in 1979 paid off. He now manages 7,000 the company, Combs has held numer- Clark is accountable to the chairman and employees in its multibillion-dollar plant ous engineering and management posi- CEO on companywide legislative mat- operation, which includes brewing, tions. He became vice president of the ters and regulatory strategies for a co m - research, quality assurance, engineering, Western region in 1996 and was named pany that generated $15.8 billion in 20 0 3 . purchasing, and information systems. president and chief operating officer in As president of ComEd, he oversees He’s also involved with Miller’s corpo- 2001. Prior to joining ONG in 1984, da y - t o - day operations of the co m p a n y , rate operations planning and improve- Combs spent five years as a manager which provides electricity for 3.6 million ment. Miller’s South Africa-based par- in the telecommunications industry. customers throughout northern Illinois. ent company, SABMiller plc, is one of He also serves on several corporate ComEd has 6,000 employees and rev- the world’s largest brewers with $8 billion b o a r d s . enues of $6.3 billion. in sales in 2003. Martin Davis Steve Davis Jerri DeVard Executive Vice President & CIO President & COO, Long John Silver’s Sr. VP, Brand Management & Marketing Comm. Wachovia, Atlantic Region President, MultibrandingYUM! Brands Verizon Communications Inc.

Age: 41 Age: 46 Age: 45 Davis is a leader in As president and Since January of information technology COO, Davis oversees 2003, DeVard has at Wachovia, a business company and fran- been responsible for services company with chise operations, lead- leading all corporate $401 billion in assets ership, and marketing initiatives to build and a market cap of $61 billion. Wachovia for the Long John Silver’s brand, a quick- and strengthen the Verizon brand world- is one of the largest providers of financial service seafood chain with more than wide. She also manages advertising, services to retail, brokerage, and corporate 1,200 restaurants worldwide. A seasoned media planning and buying, and direct customers throughout the East Coast and restaurant executive with strong opera- mail response for the company’s Domes- the world. Davis handles the technology tional and marketing skills, Davis joined tic Telecom group. Verizon had revenues for all of Wachovia’s businesses, covering a Pizza Hut, a YUM! Brands company, in of $67.8 billion in 2003. Prior to joining range of bank offerings, complete brokerage 1993 and rose to senior vice president of Verizon, DeVard was chief marketing services, asset management, wealth man- concept development. On Oct. 18, 2004, officer at Citigroup, responsible for the agement, and innovative products for cor- Davis took on added responsibilities for e -consumer line of business. She also porate and individual customers. More than the company’s 2,600 multibrand restau- held other positions in customer acqui- 9 million households and 900,000 business rant operations worldwide. Multibrand- sition and new business development. customers are acquainted with Wachovia ing accounted for approximately 12% of Before joining Citigroup, she was v i c e Bank, Wachovia Securities, and Wachovia the company’s traditional restaurant base president of marketing for color cos- Mortgage brand names. A graduate of the in the U.S. and generated almost $185 metics at Revlon, vice president of mar- Young Executive Institute and the Execu- million in U.S. company store profits and keting for Harrah’s Entertainment in tive Leadership Program at the University franchise fees in 2003. YUM! Brands, with New Orleans, and she held several brand of North Carolina-Chapel Hill, Davis is more than 33,000 restaurants in more management positions at the Pillsbury accountable for all strategic, employee, and than 100 countries, saw revenues of $8.4 Co. in Minneapolis. business processes. billion in 2004.

Monte Ford Emerson U. Fullwood George Hamilton Sr. VP & CIO, American Airlines Corp. VP & Chief of Staff & Marketing President, Dow Automotive AMR Corp. Xerox Corp. Dow Chemical

Age: 45 Age: 57 Age: 49 Ford was recruited Fullwood was born Hamilton joined in 2000 with orders in Supply, North Car- Dow in 1977 as a sell- t o rebuild the infor- olina, so perhaps it was er of plastics to the mation technology fate that led him to the automotive industry department for the $15.7 billion Stamford, and has held a variety $ 1 7 . 4 billion airline. The senior executive Connecticut-based supplier of office prod- of positions in sales, marketing, application is responsible for information systems ucts. Named to his position in October development, and business operations. He organization, all Internet activities, and 2004, Fullwood is responsible for directing is responsible for growing Dow Automo- operations research at the world’s largest sales of office products through resellers, tive business from a materials sales office carrier, with 3,900 daily flights. Central to agents, dealers, and other distribution to a strategic division, offering p r o d u c t American Airlines’ reinvention since 9-11, channels. He was previously president of development and engineering services. Ford’s department has an annual oper- Xerox’s Worldwide Customer Services Hamilton was handpicked to help trans- ating budget of $158 million through Group, president of Xerox’s Regional Oper- form Dow Automotive into its profit cen- 2007. Prior to working for American Air- ations (Latin America), and executive ter in 2000. Today, he oversees a $1.5 bil- lines, the Northeastern University grad- chief staff officer of Xerox Developing lion business unit that includes 1,700 uate served as executive vice president Markets Operations. Joining the copier employees and 40 locations worldw i d e . and chief information officer for The manufacturer in 1972, Fullwood, who was Largely responsible for the compa n y ’ s sh i f t Associates First Capital Corp. and as featured on BE’s Top 50 Blacks in Corpo- from selling materials to engineering sys- senior vice president of technology at rate America, in 2000, has always focused tems and components, he also leads the Bank of Boston. on customer service. He says that “cus- Dow Automotive executive management tomer satisfaction is the bottom line for and automotive le a d ership teams. In 2003, success.” Dow Chemical, the parent company, generated $32.6 billion in revenues. Paula Madison President & General Manager KN B C Age: 52 Location: Los Angeles Madison believes there’s an art to news reporting: facts, integrity, passion, and making a connection with the audience. That’s why the once self-acknowl- edged print snob never thought she’d wind up in television. She considered it fluff, lacking the grit and substance she pursued first as an investigative bureau reporter for the Fort Worth Star-Telegram in Fort Worth, Texas, and then as an assistant city editor for the Dallas Times Herald. But her work ethic and passion for news made her an attractive recruit for broadcasting. She joined NBC’s New York station in 1989 as assistant news director. In 1999, as vice presi- dent and news director, she led NBC to first place in November sweeps for all local newscasts—a first for the station in 16 years. Today, Madison admits she absolutely loves television. And she’s still winning sweeps—now in L.A. as pres- ident and general manager of KNBC (this past November, the station retained first place for the 11 p.m. news broadcast). Madison is also regional manager for NBC/Telemundo stations KVEA and KWHY. Los Angeles is No. 2 for general- market television viewers in the nation, but No. 1 for the Hispanic market. “Whenever I’m asked how [I got] to this point, I always say you have to agree with the principles and goals of your company. If you don’t, you’re always going to look for the next com- pany to be in love with.” —Sonia Alleyne

Hoyt Harper II Isaiah "Ike" Harris Jr. Darryl B. Hazel Senior Vice President, Four Points by Sheraton President President, Lincoln-Mercury Starwood Hotels & Resorts Worldwide Inc. BellSouth Advertising & Publishing Group Ford Motor Co.

Age: 50 Age: 52 Age: 55 Harper is respon- Born in West In 1972, Hazel sible for all opera- Memphis, Arkansas, joined Ford Motor tional aspects of the Harris spent eight Co.—the fourth largest Four Points by Sher- years as a profes- automaker in the aton hotels, includ- sional football play- United States with ing brand standards, product devel- er with the then-St. Louis Cardinals 2003 revenues of $164.2 billion—as an opment, and owner relations. Its and the New Orleans Saints before analyst in Lincoln-Mercury’s New York parent company, Starwood Hotels & joining the accounting and consult- District Sales Office. Twenty-four years Resorts, generated $3.8 billion in rev- ing firm KPMG Peat Marwick. In later, after serving in various capacities enues and is ranked among the top November 2004, Harris was named to in five different cities, Hazel now heads all 500 publicly traded companies. It is his current position, overseeing Berry aspects of marketing, sales, and service also perhaps one of the largest employ- Co.; Stevens Graphics; and Intel- for the Ford division that manufactures ers in the nation, employing some liVentures, the Internet company that Lincoln and Mercury cars. Lincoln is well 110,000 people around the globe. Under produces Real Pages.com. Harris will known for its luxury Town Car sedans, Harper’s leadership, Four Points by continue to be responsible for Bell- while popular Mercury models include Sheraton had been voted the No. 1 South’s Latin American operations. the Sable and Grand Marquis. Hazel has mid-priced hotel brand by B u s i n e s s In January 2004, He was named pres- held his current position since August Travel News in 2002. A 22-year veter- ident of BellSouth Enterprises, which 2002. Prior to that, he was vice president an, Harper has served as the company’s generates 15% of BellSouth’s $22.6 of the Ford Customer Service division. He senior vice president of business devel- b i llion in revenues. Harris served three was elected vice president of Ford Motor opment and marketing programs. As years as president of BellSouth Con- Co. in December 2001. Hazel has devel- such, he structured strategic alliances sumer Services, responsible for the oped a plan that focuses on pushing new for Starwood and developed loyalty strategic marketing, sales, and cus- and redesigned models to reach his ambi- and membership programs. tomer service direction. tious goal of 500,000 units a year. Frederick W. Hill Theopolis Holeman Louis W. Hoyes Executive Vice President Group VP of Power Delivery, Duke Power Exec. VP, Single Family Mortgage Business J. P. Morgan Chase & Co. Duke Energy Fannie Mae

Age: 55 Age: 55 Age: 56 Hill is responsible When hurricanes Hoyes oversees the for global corporate threaten the Carolinas’ mortgage lending m a r k e t i n g and com- coastline, residents giant’s single-family munications. His role worry about downed business and single- is key in making s u r e power lines and black- fa m i l y customer tech- that the $44.4 billion financial s e rv i c e s outs. Making sure that area residents have nology. With 979 employees, including institution builds its brands, products, the power to function is just one of the chal- nine senior vice presidents and 26 vice and services to beat tough competitors lenges Holeman faced as Hurricane Isabel presidents, this division is responsible such as Citigroup and Bank of America. made its way north in September 2003. At for purchasing single-family mortgages, As a member of the firm’s executive com- that time, he was executive vice president developing new mortgage products, and mittee, its senior policy-making group, of power delivery for Duke Power. In his providing products and services to help Hill has had a successful career at one of current position, which he has held since lenders with portfolio management. In our nation’s largest banks. He served in March 2004, Holeman is responsible for 2003, the unit contributed $4.8 billion, or the same capacity with Chase Manhat- leading the power delivery organization, 32.4%, of Fannie Mae’s taxable equiva- tan Bank before it merged with J.P. Mor- which encompasses the electric distribu- lent revenues. With $43.8 billion in gan. Hill joined Chase in September 1997 tion and electric transmission systems of r e venues for 2003, Fannie Mae is the from McDonnell Douglas Corp., where Duke Power’s service area in North and 20th largest publicly traded company in he served as senior vice president for South Carolina. Duke Power is a business the United States. Prior to his current communications and community rela- unit of the $23 billion Duke Energy, one of position, Hoyes served as senior vice tions. Hill holds a bachelor’s and a J.D. the nation’s largest electric utilities. Prior to president of Multifamily Lending and from the University of Pittsburgh and his current position, Holeman served as Investment, managing and marketing serves on various corporate boards. executive vice president of transmission the company’s more than $57.6 billion and engineering for the Houston-ba s e d su b - portfolio of multifamily loans and sidiary, Duke Energy Gas Transmission. i n v e s t m e n t s .

David E. Jackson William Lamar Jr. Pierre E. Leroy Divisional Vice President Chief Marketing Officer President, Worldwide Construction & Forestry Wal-Mart Stores Inc. McDonald’s USA Deere & Co.

Age: 55 Age: 52 Age: 56 Jackson is responsi- Lamar is responsible Originally from ble for operational for all U.S. marketing Port-au-Prince, Haiti, aspects of 534 stores efforts of this $17 bil- Leroy majored in in 18 states in the mid- lion fast-food company , political science as an Northeastern and the largest in the undergrad at the Uni- Northwestern United States for the world’s world. McDonald’s has 13,000 restaurants versity of Michigan. He began his career largest retailer. He leads a management in the United States alone. When Lamar at the world’s leading manufacturer of team that includes six regional vice pres- served as general manager and regional agricultural and forestry equipment in idents and 75 district managers. The vice president for McDonalds’ Atlanta 1976 as assistant manager of domestic Tuskegee Institute graduate joined the Region, he was responsible for more than finance. As president of the company’s $258.7 billion retailing titan in 1983 as an 700 restaurants in Georgia, Alabama, South Worldwide Construction and Forestry assistant manager and was named store Carolina, and portions of North Carolina Division (since 1996) and Worldwide manager for the Tuscaloosa, Alabama, and Tennessee. Over the past few years, Parts Division (since 2003), Leroy had an Wal-Mart the following year. Over the Lamar has helped build up the flagging fran- operating profit of $152 million in 2003. next 10 years, he held positions of increas- chise. Just two years ago, consumers old Sales increased 24%. By the end of the ing responsibility—including district man- and young were shunning staples such as third quarter in 2004, his divisions’ sales ager, region manager, and regional vice Big Macs and Happy Meals. But due in large rose 40%. Operating profit improved to president—before being named to his cur- part to Lamar’s innovative marketing strat- $155 million for the quarter and $393 rent position in 1994. Jackson earned his egy and campaigns to target different mar- million for nine months, compared to degree in economics and business and ket segments, systemwide sales were up $59 million and $111 million the previous was a business education major at the 7% through November 2004. The company year. Within the two divisions, Leroy University of Alabama. He also received posted double-digit same- store sales oversees 7,300 employees. Deere & Co. the first Sam Walton “Hero” Award for increases for two consecutive year-over- had 2003 revenues of $15.8 billion. Excellence in 1995. year periods. Charles E. Phillips Jr. Co-president & Director, Oracle Corp. Age: 45 Location: Redwood Shores, CA A former Marine captain, Phillips went into combat as soon as he enlisted at Ora- cle, the $9.5 billion software company. He was on the front lines of an 18-month battle for rival software company PeopleSoft Inc. Oracle completed the $10.3 bi l lion merger, one of last year’s most publicized and hostile takeovers, with Peo- pleSoft accepting a $26.50-per-share buyout. Achieving such triumphs has enabled this digerati to emerge as a powerhouse within his organization and the industry. A member of Oracle’s board of directors, he’s responsible for the field operations of the bellwether tech giant. In fact, Oracle’s entire strategy revolves around information—helping governments and businesses become more effective at managing and securing data. Before joining Oracle as executive vice president in 2003, Phillips spent nine years with Morgan Stanley and rose to the position of managing director of enter- prise and Internet software. In 1994, Phillips was ranked the No. 1 enterprise software industry analyst by Institutional Investor magazine and named one of BE ’s Top 50 African Ameri- cans on Wall Street in 2002. Phillips holds a B.S. in computer science from the U.S. Air Force Academy, an M.B.A. in finance from Hamp- ton University, and a J.D. from New York Univer- sity Law School. As a result of his experiences, his business and personal philosophies are intertwined: “Having a passion for what you do, being technically prepared all the time, and having a willingness to take risks are the kinds of things that I have always believed in—whether in business or as an officer in the Marine Corps.” —Carolyn M. Brown

Dennis Maple Gary E. McCullough John Mims Exec. VP, Aramark Education, Facilities Services President, Ross Products Division Senior Vice President, Worldwide Sales Aramark Corp. Senior Vice President, Abbott Laboratories Starwood Hotels & Resorts Worldwide Inc.

Age: 44 Age: 46 Age: 41 Maple manages an As of December Mims is one of employee team of 2003, McCullough has the top executives more than 7,500 and, been a top gun at Ross, accountable for max- on a national level, is overseeing a product imizing earnings and responsible for the portfolio exceeding increasing the prof- day-to-day operations of more that 400 $2 billion in sales for the nutritional needs itability of the company’s existing clients in the higher education and K–12 company, which produces brands such p o r tfolio. He supervises global sales market for one of the leading food caterers. as Similac baby formula, Ensure, and the organizations and functions at the cor- His division represented approximately Glucerna diabetic products. McCullough porate and division levels of Starwood, $375 million of Aramark’s $9.7 billion in recently added muscle to the product line a hotel owner and franchisor with more revenues. Based in , Ara- with the $320 million acquisition of Exper- than 740 properties worldwide and $3.7 mark’s other customers include sports imental Applied Sciences, makers of billion in revenues. Previously, Mims arenas, hospitals, and business cafete- health and fitness products such as led Starwood’s Asia-Pacific sales and rias. Maple built his career in sales, mar- Myoplex and Body for Life. The senior marketing team and managed a team of ket development, and operations at sev- vice president leads 5,600 employees regional marketing directors. B e f o r e eral large companies, including through 12 department managers who joining the company, Mims, a gradu- Kraft-General Foods, Pepsi-Cola, and report directly to him. McCullough start- ate of Morehouse College, was chief Coors Brewing Co., where he served as the ed his career as a U.S. Army Infantry offi- operating officer for GetAsia.com, a pre- area vice president in the Dallas region. cer. He came to Ross from Wm. Wrigley mier network of Asian Websites that Maple was also the zone development Jr. Co., where he managed a $1.2 billion provided on-demand entertainment and manager for the Jackson, Florida, region product portfolio. Under his leadership, information. He also worked at Procter of the Quaker Oats Co. He earned his Wrigley’s market share grew from 47.5 % & Gamble. B.A. at the University of Tennessee. to 58.4% in three years. Harold L. Morrison Jr. Kim Nelson Rodney O’Neal Exec. VP, Managing Dir. & U.S. Field Ops. Manager President, Snacks Unlimited President, Dynamics, Propulsion, Chubb & Son Corp. VP, General Mills Thermal & Interior Sector, Delphi Corp.

Morrison is respon- Age: 41 Age: 51 sible for branch and Since joining Gener- Spun off from Gen- producer profit growth, al Mills in 1988, Nelson eral Motors in 1999, generating sales and has concentrated on Delphi, headquartered meeting budget tar- the cereal and snack in Troy, Michigan, is gets. He oversees field business, identifying the world’s largest operations, which, in 2003, brought in 80% growth opportunities and developing mar- maker of auto parts. O’Neal’s sector pro- of Chubb’s recorded $11.1 billion in net keting strategies for a portfolio of prod- duces energy management systems, chas- premiums written. With more than 12,000 ucts. As president of Snacks Unlimited, sis, steering, thermal systems products, e m p l o yees throughout North America, an appointment she assumed in 2004, Nel- automotive electronics, audio, and other Europe, South America, and the Pacific son is responsible for the profitability and safety and communication products. In Rim, Chubb serves property and casualty growth of the company’s snack business, 2003, this sector generated $14.2 billion of customers from more than 130 offices in which includes Pop Secret popcorn, Nature Delphi’s $28.1 billion annual revenues. I n 29 countries. Chubb works closely with Valley granola bars, Bugles, and Chex Mix. addition, O’Neal is responsible for Delphi’s 8,000 independent agents and brokers Nelson previously served as vice president operations in Europe, Africa, the Middle worldwide and is ranked among the top 10 of the Family Business dinner unit in the East, and South America. He also serves pu b licly traded insurance organizations meals division. She was named vice pres- as the strategic champion for Delphi’s based on revenues in the United States. ident of General Mills in 1999. General Ford customer team. He started his career Prior to this position, Morrison was the Mills generated $10.5 billion in revenues for at GM in 1971 as a student at General New York brokerage zone officer. In his 20- 2003. Nelson serves on the advisory board Motors Institute (now Kettering Univer- year career at Chubb, Morrison has also of the Black Champions Network, a Gen- sity), then moved on to a number of engi- served as Seattle branch manager and eral Mills employee network that she also neering and manufacturing positions in Northern zone manager for the company’s helped establish. She received her M.B.A. Dayton, Ohio; Portugal; and Canada. He Department of Financial Institutions. from Columbia University. accepted his current position in 2003.

Vicki R. Palmer Cecil B. Pickett Myrtle S. Potter Executive Vice President President, Schering-Plough Research Institute President, Commercial Operations Coca-Cola Enterprises Inc. Senior Vice President, Schering Plough Genentech Inc.

Age: 51 Age: 59 Age: 46 Palmer is one of the Pickett heads the Potter has distin- key earnings drivers for p h a r m a c e u t i c a l guished herself in the one of the largest soft research arm of Scher- field of biotechnology drink bottlers in the ing-Plough, a health- by taking brands of world. In addition to care company that medicine and making bottling Coke, the company handles the produces prescription medications. Pi c k - them household names. At Merck, where Minute Maid line of juice products. Palmer ett, whose 2003 research and develop- Potter spent 14 years (three of them as manages the company’s $12 billion multi- ment efforts generated $1.47 billion in vice president of the Northeast Region currency debt portfolio, $2.5 billion pen- revenues, had a hand in marketing suc- Business Group), she led the marketing of sion plan, 401(k) plan investments, and ce s s ful allergy and respiratory drugs like the ulcer remedy Prilosec. Later, at Bris- commercial and investment banking rela- Cl a r inex, Claritin, and Nasonex. The med- tol-Meyers Squibb, where Potter held var- tions. She helps establish the strategic ications contributed more than $4.2 bil- ious executive positions from 1996 to direction of the company’s organizational lion to the company’s bottom line when 2000, she was in charge of marketing development efforts. Before joining Coca- they hit the market. Pickett came to the cholesterol drug Pravachol. She joined Cola in 1983 as manager of worldwide pen- S c h e r i n g -Plough from Merck Research Genentech in 2000 as executive vice pres- sion investments, Palmer spent five years L a b o r a t ories, where he served as senior ident and chief operating officer. She now at FedEx, where she was the company’s vice president. He is also a member of the leads Genentech’s commercial operations, first black female manager. A native of U.S. Food and Drug Administration Sci- including sales, marketing, managed care, Memphis, Tennessee, Palmer held numer- ence Board. Pickett holds a Ph.D. in cell commercial development, and dedicat- ous financial positions at FedEx. She was biology from UCLA and has been pub- ed support. She also co-chairs Genen- formerly the manager of corporate finance. lished extensively in leading research jour- tech’s product portfolio committee, pro- Prior to her current role, she was a corpo- nals. He has been a frequent speaker at viding strategic and financial oversight rate loan officer. scientific symposiums and conferences. of the drug development portfolio. Rayford Wilkins Jr. Group President & CEO of Enterprise Business Sales, SBC Communications Age: 53 Location: San Antonio When this regional Baby Bell looks for growth and profitability, it calls Wilkins. Before taking on his current position, Wilkins was group president of market- ing and sales, responsible for nearly $30 billion in annual revenues. He led the turnaround from a negative 8% in annual revenues growth to a positive 2% in less than 24 months—an unprecedented performance in the industry. Under his leadership, SBC launched and became the No. 1 DSL provider in the U.S. with 4.3 million customers at the end of September 2004, giving cable a run for its money in the battle of the bandwidths. Late in 2003, SBC was granted approval from the Federal Communications Commission to provide long-distance service. Wilkins sees SBC’s new regulatory freedom as an opening to capture market share. It has already vaulted to the No. 2 spot in long-distance service with nearly 20 million customers. The 30-year telecom veteran began his career as a commercial assistant after earning a bachelor’s degree in business administration. “I considered a lot of different areas, looking at everything from technology to pharmaceuti- cal sales. But the one thing that attracted me to [the company] was the fact that I had the opportunity to go directly into manage- ment,” he says. “The key is to have challenging positions, to have something where you’re actually creating a new opportunity or you’re doing a turnaround for the company or something that presents a siz- able challenge to you and your leadership capabilities.” —Patrice D. Johnson

Sylvia Rhone Desiree G. Rogers Cathy D. Ross President, Records Corp. Sr. VP, Peoples Energy Corp. Senior Vice President & Chief Financial Officer Executive Vice President, President, Peoples Gas & North Shore Federal Express Corp.

Age: 53 Age: 45 Age: 47 On the list of po p - At Peoples Energy FedEx Express is music divas, Rhone is of Chicago, Rogers the largest subsidiary definitely at the top— helps keep residents of FedEx Corp. and not as a musical tal- of the Windy City the largest express ent, but as the woman warm. She is r e s p o n- courier, delivering with the knack for identifying the hottest sible for the utilities’ field operations, about 3 million packages a day world- superstars, from R&B to rap. The New customer service functions, and gas wide and generating $17.3 billion in York native has a bachelor’s degree in supply management. Rogers was named sales. Since February 2004, Ross has economics from Wharton. She began her to her current position in July 2004. A served as the company’s financial chief, career in the record business 30 years ago graduate of Harvard Business School, but in recent years she has played a piv- at Buddha Records. In 1990, she became Rogers joined Peoples Energy in 1997 as otal role in FedEx Express’ successful the first African American woman to vice president of corporate communi- efforts to expand its global reach, head a major record company when she cations, and in 2000 she was named increase profitability, and keep the com- was named CEO and president of chief marketing officer. Peoples Gas and pany competitive as it battles carriers Atlantic’s EastWest Records America North Shore Gas reported $142 million such as UPS and DHL. Ross, who holds division. Named to her current position at in operating income in fiscal year 2004 an M.B.A. from the University of Mem- Motown in September 2004, she is out of a total operating income of $171 phis, joined FedEx in 1984 as a senior responsible for the Motown label, in addi- million. In 2003, Peoples Energy gener- financial analyst and served as vice pres- tion to all projects under the Universal ated $2.1 billion in revenues. Before join- ident of express financial planning. Music Group family of labels, which is ing Peoples Energy, Rogers was the With annual revenues of $23 billion, part of the international conglomerate director of the Illinois Lottery. She cur- FedEx is a global leader in providing Vivendi Universal. In1996, she led a rently serves on the corporate board of transportation, e-commerce, and sup- fundraising benefit to help rebuild church- Blue Cross Blue Shield of Illinois. ply chain management services. es destroyed by fire. Debra A. Sandler Bertram L. Scott Bradley T. Sheares Worldwide Group Vice President Executive Vice President, Product Management President, U.S. Human Health Division McNeil Nutritionals TI A A - C R E F Me r c k

Age: 44 Age: 53 Age: 47 Sandler is respons- Operating on a $211 Ph a r m a c e u t i c a l s ib l e for the global million budget, Scott company Merck, based ma r ke t i n g of the com- heads the New York in Whitehouse Station, pa n y ’s products, includ- division that develops New Jersey, made news ing Splenda, Viactiv, Lac- a wide range of finan- last year when its best- taid, and Benecol, in addition to branding cial services products, generating about selling arthritis drug Vioxx was recalled and driving on a global scale many of the $15 billion in premiums and net flows in after studies revealed that it increased the company’s new products. She leads 2004. Scott oversees the Project Manage- risk of heart attack and stroke. Still, the McNeil Nutritionals’ North American ment Group, which includes pensions, $22.5 billion drug company, one of the 100 Management Board and has full func- institutional asset management, individ- largest publicly traded companies in the tional and profits and loss responsibility ual wealth management, college savings United States, does brisk business in its for operations, quality assurance, sales, plans, and business development. The other remedies, including those for hyper- marketing, communications, R&D, DePaul University graduate joined TIAA- tension and high cholesterol. Sheares plays finance, and human resources. She also CREF in 2000 as president of TIAA-CREF a major role in their development. In his oversees the company’s operations in Cen- Life Insurance Co. Scott is a 32-year insur- current position, Sheares is responsible for tral and South America. Her strategic plan- ance and healthcare veteran with prior the sales and marketing of the company’s ning helped to make Splenda one of the executive posts at Prudential Healthcare portfolio of medicines and treatments for company’s top-selling sweeteners three and Horizon Mercy, a managed care pro- chronic diseases. He also oversees the U.S. years after it was launched. Sandler spent gram, where he served as president and sales force that calls on office-based physi- 13 years at Pepsico where she held a variety CEO. He is an adjunct professor at Mehar- cians, sales services, and medical and sci- of marketing positions on several brands ry Medical School, and in 2000, the New entific affairs. Holding a Ph.D. in bio- that included Mountain Dew, Slice, and Jersey chapter of the NAACP named him chemistry from Purdue University, Sheares Mug Root Beer. CEO of the Year. Scott is also a board mem- was part of Merck’s research team from ber for the American Heart Association. 1987 to 1990.

Paula Sneed Glenn C. Taylor Don Thompson Senior Vice President, Marketing Resources Group President, Government & Key Accounts Exec. VP & Innovation Orchestration Leader, Kraft Foods Inc. Medco Health Solutions Restaurant Solutions Group, McDonald’s USA

Age: 57 Age: 52 Age: 41 Sneed is responsible Medco Health Solu- Thompson oversees for the company’s ti o n s , formerly Merck- new menu innova- global marketing serv- Medco Managed Care, tions for McDonald’s ices and e-commerce is the top pharm a c y in 120 countries. He initiatives. Previously, benefits management provides system lead- as president of e-commerce and market- company in the United States. Medco ership to identify and capitalize on new ing services, she managed a $1.5 billion- helps patients, through their jobs, unions, growth opportunities, including the a-year budget, marketing more than 100 or HMOs, fill prescriptions by mail order supervision of concept development, brands at the nation’s biggest food com- or online within a network of pharma- R&D, and menu management. Previ- pany. Kraft Foods, which has $31 billion cies. The $35 billion company, based in ously, he was president of McDonald’s in annual sales, is currently changing its Franklin Lakes, New Jersey, is one of the West Division, which included more o r g anizational structure to position nation’s 100 largest firms. Taylor is than 4,000 restaurants and generated itself better in the global economy. Sneed responsible for Medco’s Key Accounts one-third of the company’s 2003 rev- helps align the company’s five global con- group: government, labor groups, and enues. Today, McDonald’s is doing well sumer sectors of beverages, snacks, cheese UnitedHealth Group. He founded the with an emphasis on creating a new rela- and dairy, convenient meals, and groceries. UnitedHealth Group division in 1999 tionship with its customers. Through Kraft Foods markets several leading and served as its president until April November 2004, McDonald’s sales were brands, including Kraft, Maxwell House, 2002. Taylor later worked as Medco’s up 7.9% worldwide, and same-store sales Nabisco, Oscar Mayer, Post, and Milka, senior vice president of account man- were up 7.1% worldwide. Overall, in more than 150 countries. agement before assuming his current McDonald’s is driving growth for the role. Before joining Medco, Taylor was entire quick-service restaurant category, president of FlexRx, which was acquired and published reports suggest that com- by Medco in 1993. petitors are struggling to keep up. Ronald A. Williams President & Director, Aetna Inc. Age: 55 Location: Hartford, CT As president of Aetna, Williams took the $18 billion healthcare giant off life support. When he accepted the position in 2002, the company was hemorrhaging red ink, posting a loss of $279.6 million. To revive the ailing institution, he performed radical surgery, cutting costs and laying off thousands of employees while targeting new revenue sources. Now, the company is back on track. “The objective was to focus on the creation of a new generation of products, providing consumers with much more choice and flexibility,” he says. “We introduced those products in 2002. Our membership has begun to grow. This year, through the third quar- ter, we added 652,000 net new members as a result of many of these changes.” Williams has also pushed Aetna to become an industry leader by taking on issues such as racial and ethnic disparities in healthcare. He oversees 27,000 employees and controls a leviathan that touches millions of lives. Aetna insures 13.6 million indi- viduals for medical coverage; 11 million for dental coverage, 8 million for pharmacy coverage, and 12 million for group life and disability coverage. Williams, who earned his undergraduate degree in psychology from Roosevelt University and a mas- ter’s degree from MIT’s Sloan School of Manage- ment, gravitated toward healthcare because of his interest in service-oriented businesses. Today, he makes sure that he takes care of the needs of his cus- tomers—rich or poor—while ensuring that Aetna has a healthy bottom line. —Patrice D. Johnson

John R. Thompson Matthew Thornton Michael A. Todman Senior Vice President & G.M., BestBuy.com Sr. VP, AGFS division, FedEx Express Executive VP; President, Whirlpool Europe Best Buy Co. Inc. FedEx Corp. Whirlpool Corp.

Age: 52 Age: 46 Age: 46 In his position, Thornton is directly Todman has trav- Thompson is directly responsible for FedEx eled the world for responsible for all customers’ package Whirlpool, the No. 1 aspects of the busi- delivery day in and appliance maker in ness unit, including day out. The senior the United States. operations and profit and loss. He joined executive oversees all strategic planning Based in Benton Harbor, Michigan, Tod- Best Buy in 2001 as senior vice president for the sort, line haul pickup, and deliv- man assumed his current titles in Octo- of Supply Chain and Business Systems for ery of FedEx Express freight services ber 2001 after serving as executive vice Best Buy stores. Previously, he held posi- worldwide. For the past six years, Thorn- president of Whirlpool’s North American tions at Goody’s Family Clothing Inc.; ton has served as vice president, cen- region, which posted record sales and Lee Apparel Co.; and , tral region, of U.S. domestic ground operating profit for the last quarter he where he spent 15 years serving the mar- operations and has enhanced service was there. Todman joined Whirlpool in keting, logistics, finance, and operations and profitability for the $17 billion sub- 1993 as director of finance for the United units. BestBuy.com is the wholly owned sidiary. The Memphis native holds an Kingdom and, in succession, became gen- Internet subsidiary of Best Buy, a spe- M.B.A. from the University of Tennessee. eral manager of Northern Europe and vice cialty retailer of consumer electronics, In the past, Thornton served as co-chair president of consumer services at personal computers, entertainment soft- of the FedEx United Way corporate Whirlpool Europe. Whirlpool has com- ware, and major appliances. Thompson campaign. He’s also the recipient of four panies in 13 countries and markets serves as a director of the Best Buy Chil- FedEx Express Five Star Awards, the products under 18 brand names in more dren’s Foundation and is a member of the highest award the company bestows on than 170 countries. Whirlpool generated National Retail Federation’s Information individual employees in recognition of $12.2 billion in revenues in 2003, up 11% Technology Council. outstanding performance. from 2002. Kevin Walker Ed Welburn Keith Williamson President & COO, American Electric Power, Ohio Vice President of Design, North America President, Capital Services Division American Electric Power Co. Inc. General Motors Pitney Bowes Inc.

American Electric Age: 54 Age: 52 Power Co., based in As director of GM’s Pitney Bowes is best Columbus, Ohio, gen- Corporate Brand Cen- known for its postage erates and distributes ter, Welburn led his meters, but the $4.6 bil- power to 5 million cus- team in developing lion company, based in tomers in 11 states. In new vehicles for GM’s Stamford, Connecti- 2003, the company generated $15.4 billion North American brands. He is responsi- cut, also offers a wide range of financial, in revenues. Walker is responsible for serv- ble for the designs of all GM brands, outsourcing, and professional services. ing 1.44 million customers in Ohio and including the retooling of the Saturn auto- Since 1999, Williamson has been over- Northern West Virginia. He has authority motive line and the revitalization of the seeing Pitney Bowes’ capital services divi- for distribution operations and a wide range muscle car standard, Corvette. In October sion, a $168 million division that finances of customer and regulatory relationships. 2003, Welburn became design chief, only distribution and office facilities, aircraft, Walker came to his job after 12 years with the sixth in GM’s 95-year history. Wel- rail and trucking equipment. Williamson Consolidated Edison in various leadership burn is the first African American to run joined Pitney Bowes Financial Services as positions, including vice president of Main- the design studio of any major automak- director of taxes in 1988. He was promot- tenance and Construction Services of New er. With an army of 600 designers at 11 ed to assistant general counsel in 1993 York, serving the five boroughs of New studios around the world, Welburn has and to vice president, secretary, and gen- York City and Westchester. While serving been traveling the globe meeting his eral counsel of PBFS in 1994. In April 1998, at ConEd, he was instrumental in directing designers in their territory. He is respon- he assumed additional responsibilities as recovery of energy service following the sible for day-to-day management of GM senior associate general counsel—mergers collapse of the World Trade Center’s Twin Design, is a member of the GM North and acquisitions. The St. Louis native Towers. Walker, a graduate of the U.S. Mil- American Strategy Board, and oversees earned law and business degrees from itary Academy, earned a B.A. in civil engi- GM’s Global Design Council. GM is the Harvard and his master of laws degree in neering in 1985. He served more than six third largest publicly traded company in taxation from New York University Law years in the Army. the United States. School.

Chris C. Womack By The Numbers Al Zollar Sr. VP, Fossil & Hydro Power, Georgia Power Co., General Manager, Tivoli Software Southern Co. Gender Breakdown: Industries IB M Re p r e s e n t e d : Age: 47 60 15 8 Fi n a n c i a l Age: 50 Womack oversees Me n Wo m e n Zollar oversees the coal and gas-fired gen- 6 Consumer strategic direction and Pr o d u c t s erating facilities for operation of the Tivoli Georgia Power, which Average Age: 5 Ut i l i t i e s software brand for IT serves more than 2 5 Food Service infrastructure, storage, m i llion residential, commercial, and 51 5 Au t o m o t i v e and security management at the $89.1 bil- industrial customers. Womack also serves Within a range of 36-65 lion company. A Big Blue heavyweight, Zol- as an officer in Southern Company Gen- 5 Me d i a lar was the executive who steered Lotus’ eration and Energy Marketing, a business 5 Computer/Office transition from a private company to an unit that manages 72 fossil and hydro Eq u i p m e n t integrated software division. Over the past plants. Womack came to Georgia Power Ed u c a t i o n : two decades, he has held executive posi- from Alabama Power as a governmental Earned Advanced Other Areas: tions within all of IBM’s software units as affairs representative, having worked as a De g r e e s Te l e c o m m u n i c a t i o n s well as its hardware business. Zollar, who Ye s No U.S. Congressional legislative aide. The En e r g y has a master’s in applied mathematics from $5 billion Georgia Power is the largest of the University of California, first came to Ph a r m a c e u t i c a l s five electric utilities that make up South- 45 30 IBM in 1977 as a systems engineer trainee. Be v e r a g e s ern Co., a regional energy company. Wom- M. B . A . s : 29 He sits on the board of directors of Chubb ack is on the boards of A.G. Gaston Enter- Mail, Package, and Corp. He’s also an advocate and supporter prises and Boy Scouts of America, and is J. D . s : 10 Freight Delivery of business and community-based organi- a member of the 100 Black Men of zations aimed at expanding opportunities Atlanta. A native of Greenville, Alabama, PH . D . s : 2 Average Tenure: for minorities. A member of the Executive Womack has a bachelor’s from Western Leadership Council, he also co-chairs the Earned Both Ye a r s Michigan University. M.B.A. & PH.D.: 4 14 IBM Black Family Technology Awareness project. BE