Black presidents in Fortune 500 companies

Ebony, Jan, 1994 by Lynn Norment

A select group of men and women head subsidiaries, divisions and units of major U.S. corporations

Call them Mr. or Ms. President, or simply call them Boss. By either title, it is clear that the Black executives featured here have achieved the pinnacle of corporate power -- they control million-dollar budgets, command thousands of employees and bring in hundreds of millions of dollars in revenue.

In the last decade, Blacks have made modest gains in corporate America. Though we still have a long way to go, in recent years a small number of talented, savvy African-Americans have joined the corporate elite in the paneled boardrooms and executive suites.

However, there is only one Black chairman/CEO of a Fortune 500 company: Richard D. Parsons of Dime Savings Bank of New York, which has $8.8 billion in assets.

A canvass of some of the largest U. S. companies reveals that several Blacks hold the title of chairman and chief executive officer or CEO/president at the 500 top industrial and 500 top service corporations, which are ranked according to sales.

It should also be noted that there are a number of corporate vice presidents at various major companies who outrank division presidents. Among them is A. Barry Rand, executive vice president, operations, of Xerox Corporation, who is heralded as being in direct line for the presidency of the $18 billion company. In addition, there are numerous corporate executives, including African-Americans, who head units or divisions but do not hold the title "president." This particular EBONY feature, however, is limited to Black executives who hold the title of president or chief executive officer.

And make no mistake: the men and women featured here are by no means tokens. Rather these individuals have worked hard and proven themselves repeatedly. They have demonstrated that they can make prudent decisions, motivate employees, formulate strategies and policies, and, most importantly, turn profits.

Carl Ware travels extensively to oversee Coca-Cola's operations in sub-Saharan Africa, which covers 46 countries with a combined population of more than 500 million potential consumers. So does Dennis F. Hightower, president of Disney Consumer Products, Europe/Middle East, who cut significantly the time he spends on airplanes by moving to Paris

Hightower says three principals have guided him during his 20-year career in corporate America: preparation, performance and perseverance. "They have been a continuing source of inspiration for me," he says. "The one caveat, however, is that the three only work hand-in-hand."

Echoing that sentiment is Lloyd Ward, president of Frito-Lays Central Division, which has sales topping $1 billion and employs 8,500 people. He adds that "thinking big" and having aspirations are key to excelling in the business world. In addition, he says his love of adversity has helped him succeed. "We as a people are faced with a lot of adversity," says Ward. "And that builds character. I've found that to be true in corporate America as well. The same conviction and dedication to overcoming adversity in life help us succeed in business. It builds character, builds strength."

The 26 African-Americans on the following pages are among those who, with strength of character, have climbed to the prestigious rank of chief executive officer or president at major corporations. The list is not all inclusive, for there are numerous other outstanding men and women in the business world. But those featured here are representative of Black executives who have defied the odds to rise to the top in corporate America.

Vernon N. Ford is president of the Aluminum Co. of America's $100 million Halethorpe Extrusions Inc., which manufactures aluminum extrusions used by the aerospace industry. Ford joined ALCOA, which has annual revenues of $9.6 billion, as a sales representative in 1970. He is based in Pittsburgh.

Curtis J. Crawford is president of the $2.5 billion AT&T Microelectronics, which has 12 manufacturing plants and employs 20,000 people worldwide. it is a division of American Telephone and Telegraph Co., which has annual sales topping $65 billion. Crawford's offices are located in Berkeley Heights, N. J.

Kenneth I. Chenault is president of Travel Related Services U. S. for American Express Travel Related Services Co. He has overall responsibility for U.S. corporate and consumer businesses. American Express has more than $175 billion in assets.

Michele J. Hooper is president of the International Business Group of Caremark International Inc., the nation's leading provider of alternate site health care that has annual revenues of $1.4 billion. Hooper, also a Caremark corporate vice president, oversees operations in seven countries.

Alfred Poe, president of the Meal Enhancement Group of the Campbell Soup Company, is also a corporate vice president for the parent company. Poe is also general manager, condiments and sauces, Campbell North and South America, as well as president of Vlasic Foods Inc.

Patrick M. Prout is president and chief operating officer of Bank One Cleveland, which has assets of $2.3 billion and 1240 employees in 66 facilities in northern Ohio. It is a subsidiary of the Banc One Corp., which has $61.4 billion in assets. Prout has served as a captain in the U.S. Marine Corps.