The 75 most powerful African Americans in corporate America: meet 75 executives who hold tremendous clout in the world of business, including the 18 who earned CEO positions

Black Enterprise, Feb, 2005 by Kenneth Meeks

Franklin D. Raines

Chairman & CEO

Fannie Mae

Age: 55

The $53.8 billion mortgage financing company has had its share of trouble--it was the subject of congressional hearings last year and an ongoing Securities and Exchange Commission investigation--but there's no doubting the leadership ability of its CEO. Operating under federal charter, Fannie Mae is the largest nonbank financial services company in the world. Raines has led the company through continuous double-digit operating income growth and has made a commitment to invest $2 trillion toward financing affordable housing for 18 million families. Raines describes Fannie Mae as a company that helps millions of Americans purchase homes. As Raines seeks to push forward his agenda at Fannie Mae, his track record communicates success: As director of the office of management and budget under Clinton, he helped create the first federal budget surplus in modern history.

Lloyd G. Trotter

CEO & President

GE Consumer and Industrial

Age: 59

Trotter heads a $13 billion GE subsidiary that employs 75,000 people in 150 locations worldwide. One of GE's 11 major businesses, the company was formed in 2004 when GE Industrial Systems merged with GE Consumer Products. GE Consumer and Industrial is an industry leader in major appliances, lighting products, and integrated industrial equipment and systems. Trotter became president and CEO of GE Industrial Systems in 1998 and was instrumental in strengthening the company's foothold in international markets and expanding its product scope. He began his career in 1970 as a field service engineer with GE Lighting and assumed his current position in 2003. He also serves as chairman of the National Electrical Manufacturers Association's Board of Governors and is a member of the board of the National Association of Manufacturers.

R.L. "Bob" Wood

Chairman, CEO & President

Crompton Corp.

Age: 50

Wood took the helm at Crompton in January 2004 and became the first African American CEO of a major U.S. chemical firm. With annual sales of $2.2 billion, Crompton is a leading producer of polymers, polymer additives, and polymer processing equipment. It is also one of the world's largest specialty chemical companies. Prior to joining Crompton, Wood served as business group president for Dow Automotive, a $5.5 billion business that produced polyurethane and other chemicals. In 1997, he was named business vice president of polyurethane production at Crompton, a post that awarded him global management responsibility for the multibillion-dollar business. He serves on the boards of Jarden Corp. and Praxair Inc.

Quincy L. Allen

President, Production Systems Group

Xerox Corp.

Age: 44

Driving productivity and putting clients first have been the hallmark of Allen's career that began at Xerox in 1982, when he joined the company as an electrical engineer. In 1999, he was appointed vice president of worldwide customer services strategy. And in 2001, he became senior vice president of North American Services and Solutions. Allen was named to his current position in October 2004 and is responsible for the company's high-end systems software. He is also responsible for service offerings to the graphic communications industry, including production publishing, transaction printing, and enterprise-wide printing--a $4.5 billion business for the company. Allen also manages the worldwide development and marketing of color and monochrome systems.