1 Safra A. Catz, Oracle

Safra A. Catz
Catz is one of Oracle's MVPs, having overseen a software industry consolidation. But CEO Larry Ellison is now 69, and the question is whether Catz is a CEO-in-waiting or a deputy forever. Regardless, she's well paid: Her fiscal 2012 total pay was $43.6 million, according to Equilar.Catz is one of Oracle's MVPs, having overseen a software industry consolidation. But CEO Larry Ellison is now 69, and the question is whether Catz is a CEO-in-waiting or a deputy forever. Regardless, she's well paid: Her fiscal 2012 total pay was $43.6 million, according to Equilar.
Photo courtesy: Oracle
2 Wellington J. Denahan, Annaly Capital Management
* As of November 2012, Ms. Denahan is Chairman and CEO of Annaly Capital Management
3 Sheryl K. Sandberg, Facebook

Sheryl K. Sandberg
Photo courtesy: Facebook
4 Debra Cafaro, Ventas

Debra Cafaro
Photo: Tim Boyle/Bloomberg—Getty Images
5 Margaret C. Whitman, HP

Margaret C. Whitman
Photo: Tony Avelar/Bloomberg—Getty Images
6 Carol Bartz

Carol Bartz
* Ms. Bartz is former President and CEO of Yahoo.
Photo: Jemal Countess—Getty Images
7 Irene B. Rosenfeld

*Ms. Rosenfeld is now Chairman and CEO of Mondelez International
Photo: Tim Boyle/Bloomberg—Getty Images
8 Mary C. Erdoes, JP Morgan Chase

Mary C. Erdoes
9 Ina R. Drew, JP Morgan Chase*

Ina R. Drew
*Ms. Drew left JPMorgan Chase in May 2012.*Ms. Drew left JP Morgan Chase in May 2012.
Photo courtesy: JP Morgan
10 Indra Nooyi, Pepsi Co.

Indra Nooyi
Photo courtesy: Pepsi Co.
11 Kathryn F. Fagan, Annaly Capital Management
12 Angela F. Braly, WellPoint

Angela F. Braly
Photo: Daniel Acker/Bloomberg—Getty Images
13 Ellen J. Kullman, DuPont

Ellen J. Kullman
Courtesy: DuPont
14 Jackwyn L. Nemerov, Polo Ralph Laurent
15 Ruth Porat, Morgan Stanley

Ruth Porat
Photo courtesy: Morgan Stanley
16 Jane Elfers, Children's Place Retail Stores

Jane Elfers
Photo: Bryan Bedder—Getty Images
17 Gail K. Boudreaux, UnitedHealthcare

Gail K. Boudreaux
18 Catherine A. Lesjak, HP

Catherine A. Lesjak
19 Kay Krill, Ann Inc.

Kay Krill
Photo courtesy: Ann Inc.
20 Janet L. Robinson

Janet L. Robinson
* Ms. Robinson is former President and CEO of the New York Times.
Photo: Lisa Hancock—Getty Images
21 Ursula M. Burns, Xerox

Ursula M. Burns
Photo: Daniel Acker/Bloomberg—Getty Images
22 Sharen J. Turney, Limited Brands
23 Laura J. Alber, Williams Sonoma

Laura J. Alber
Photo: David Paul Morris/Bloomberg—Getty Images
24 Heather Bresch, Mylan

Heather Bresch
*Ms. Bresch is now CEO of MylanPhoto courtesy: Mylan
25 Patricia A. Woertz, ADM

Patricia Woertz
Amid a historic U.S. drought, agri-giant ADM's stock soared 45% in the 12 months ended Aug. 1. The CEO freed up $2 billion in cash by reducing inventory and selling noncore assets. Woertz is also making way for a $3.2 billion takeover of Australia's GrainCorp.Photo courtesy: Archer Daniels Midland