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This is the 17th year Fortune has ranked the Most Powerful Women in business outside the U.S. Banco Santander group executive chairman Ana Botín repeats again as No. 1 in 2017, though she is joined on this year’s list by 11 newcomers. The 50 global businesswomen here represent 17 countries and many industries. By Christina Austin, Laura Entis, Erika Fry, Polina Marinova, and Claire Zillman. Click here for our methodology.

Click here to see the U.S. Most Powerful Women list.

1 Ana Botín Group Executive Chairman Banco Santander Spain 56
2 Emma Walmsley CEO GSK U.K. 48
3 Isabelle Kocher CEO Engie France 50
4 Dong Mingzhu Chairwoman and President Gree Electric Appliances China 63
5 Chanda Kochhar Managing Director and CEO ICICI Bank India 55
6 Chua Sock Koong Group CEO Singapore Telecommunications Singapore 60
7 Sun Yafang Chairwoman Huawei Technologies China 61
8 Alison Cooper CEO Imperial Brands U.K. 51
9 Wang Fengying Executive Director and General Manager Great Wall Motor China 46
10 Ho Ching Executive Director and CEO Temasek Singapore 64
11 Wan Ling Martello EVP and Head of Zone Asia, Oceania, and Sub-Saharan Africa Nestle Switzerland 59
12 Isabel Ge Mahe VP and Managing Director, Greater China Apple China 43
13 Ornella Barra Co-COO Walgreens Boots Alliance U.K. 63
14 Li Dang President China General Technology China 60
15 Maggie Wei Wu CFO Alibaba China 49
16 Maria Ramos Group CEO Barclays Africa South Africa 58
17 Güler Sabancı Chairman Sabancı Holding Turkey 62
18 Lucy Peng Executive Chair Ant Financial China 44
19 Wu Yajun Chairman Longfor Properties China 53
20 Dominique Senequier President Ardian France 64
21 Shikha Sharma Managing Director and CEO Axis Bank India 58
22 Lubna Olayan Deputy Chairperson and CEO Olayan Financing Saudi Arabia 62
23 Véronique Laury CEO Kingfisher U.K. 52
24 Carolyn McCall CEO, CEO Designate EasyJet; ITV U.K. 56
25 Jean Liu President Didi Chuxing China 38
26 R. Alexandra Keith President, Global Hair Care and Beauty Sector Procter & Gamble Switzerland 49
27 Serpil Timuray Chief Commercial and Strategy Officer Vodafone U.K. 48
28 Nancy McKinstry Chairman and CEO Wolters Kluwer The Netherlands 58
29 Jessica Uhl CFO Royal Dutch Shell The Netherlands 49
30 Rachel Duan SVP, GE; President and CEO, GE Greater China General Electric China 47
31 Adaire Fox-Martin Copresident, Global Customer Operations SAP Germany 53
32 Isabelle Ealet Global Co-Head of Securities Goldman Sachs U.K. 54
33 Dominique Leroy CEO Proximus Belgium 52
34 Moya Greene CEO Royal Mail U.K. 63
35 Ann Cairns President, International Markets Mastercard U.K. 60
36 Erica Mann President, Consumer Health Division Bayer Switzerland 58
37 Gillian Tans CEO, Priceline The Netherlands 47
38 Jane Jie Sun CEO Ctrip China 48
39 Wei Sun Christianson Co-CEO, Asia-Pacific; CEO, China Morgan Stanley China 61
40 Lee Boo-Jin CEO Hotel Shilla South Korea 47
41 Han Seong-Sook CEO Naver South Korea 50
42 Mayra Gonzalez President and Managing Director Nissan Mexico Mexico 40
43 Olga Gonzalez CFO, Walmart of Mexico and Central America Walmart Mexico 51
44 Margarita Louis-Dreyfus Chairperson of Supervisory Board Louis Dreyfus Holding Switzerland 55
45 Pei-Chun Tsai CEO Pou Chen Group Taiwan 38
46 Alison Brittain CEO Whitbread U.K. 52
47 Anne Richards CEO M&G Investments U.K. 53
48 Melanie Kreis CFO Deutsche Post DHL Germany 46
49 Zhou Qunfei CEO and Founder Lens Technology China 47
50 Nguyen Thi Phuong Thao President and CEO VietJet Vietnam 47

Ana Botín

Group Executive Chairman, Banco Santander, 56
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Photo: Angel Navarrete—tBloomberg/Getty Images

As group executive chairman of Banco Santander, Europe’s largest bank by market capitalization and No. 73 on Fortune’s Global 500 this year, Botín oversees a global operation with 200,000 employees, 13,800 branches, 131 million customers, and a presence on every continent but Antarctica. She has helmed the company (and topped this list) since 2014, when she was appointed after the sudden death of her father. Botín, who has worked to upgrade Santander’s technology and service, has proved a capable steward ever since; this year, profits are up 24% for the first half of the year, and the bank’s stock price has risen 31%. The executive also completed the acquisition of struggling Banco Popular in June, a feat of deal-making that gives Santander the edge in its home Spanish market.

Personal Information

Country Spain
Previous Rank 1

Company Financials

Millions ($)
2016 Profits 6860.7
2016 Revenues 82801.3
Market Value (as of 9/7/17) 101734.7

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