The competition to be listed among Fortune’s Most Powerful Women has gotten a little stiffer this year. In recognition of just how global business has become, Fortune decided to merge its domestic and international lists of top corporate women leaders.
Still, in some ways, this year’s top 10 list is similar to last year’s with a few exceptions.
Coming in at No. 1 for the second year running is CVS Health president and CEO Karen Lynch, who is leading the highest-ranking Fortune 500 and Global 500 company ever run by a woman. On her watch – she took the helm in February 2021 – the company’s revenue jumped 9% and its share price gains (up 42%) well outpaced performance of the S&P 500. CVS, meanwhile, continued to be a central player in the fight against Covid, and Lynch implemented a mental health program to help prevent suicide among its Aetna members.
Ranking close behind Lynch once again are Julie Sweet, chair and CEO of Accenture (No. 2); Jane Fraser, CEO of Citi (No. 3); and Mary Barra, chair and CEO, GM (No. 4).
But the No. 5 spot went to Jessica Tan, co-CEO and executive director of Ping An Insurance (Group) Company of China, Ltd, which is the 25th largest company in the world. Fortune notes that despite China’s Covid lockdowns and “skittish consumer sentiment,” Ping An under Tan’s leadership beat profit expectations in the first half of 2022 and aims to achieve carbon neutrality by 2030.
Also new to the top 10 relative to Fortune’s domestic list last year is Emma Walmsley, CEO of global drugmaker GSK. She spun off her company’s $13 billion consumer health unit. “That leaves the now exclusively pharma-focused GSK with a pile of cash to invest in promising drug and vaccine candidates,” Fortune notes.
Two executives, meanwhile, fell out of the top 10 from last year: Thasunda Brown Duckett, president and CEO of TIAA; and Ruth Porat, senior vice president and chief financial officer of Alphabet. But neither fell far, ranking as No. 11 and 12, respectively.
Here are the top 10 women executives on Fortune’s 2022 Most Powerful Women list:
1. Karen Lynch, president and CEO, CVS Health
2. Julie Sweet, chair and CEO, Accenture
3. Jane Fraser, CEO, Citigroup
4. Mary Barra, chair and CEO, GM
5. Jessica Tan, executive director and Co-CEO, Ping An Insurance
6. Carol Tomé, CEO, UPS
7. Rosalind Brewer, CEO, Walgreens Boots Alliance
8. Emma Walmsley, CEO of GSK
9. Gail Boudreaux, president and CEO, Elevance Health
10. Abigail Johnson, chair and CEO, Fidelity Investments
(For more on each of these executives, here is Fortune’s full list of the top 50 Most Powerful Women in Business. Please note a subscription is required.)