Representation matters. Today’s businesses should reflect who we are, and our shared values. The inaugural Fortune LGBTQ+ Leaders list marks how far we’ve come–and how much work still needs to be done.
For the first time in history, Fortune ranked by revenue the world’s top CEOs, chairs and cofounders who also happen to be LGBTQ+. All of the companies that have made the cut this year have reported at least $100 million in revenue—underlining how this is the definitive ranking of LGBTQ+ business leaders.
Click here to explore the full list.
When it comes to business, diversity pays dividends. One company of note is Paramount Global, which boasts not one, but two openly-out CEOs. Chris McCarthy, Co-CEO of Paramount Global and President/CEO of MTV Entertainment Studios and George Cheeks, Co-CEO of Paramount Global and President/CEO of CBS Entertainment have jointly led Paramount (along with co-CEO Brian Robbins) to new heights at no.142 on the Fortune 500 list. “When I was growing up there were no out LGBTQ+ people in my life or surroundings. TV provided the only way to escape, see myself and begin to dream of a different world,” Co-CEO Chris McCarthy told Fortune.
In our extensive research, we found many positives—compared to our flagship Fortune 500 and Fortune 500 Europe lists, the Fortune LGBTQ+ Leaders list is more diverse, with 20% women (compared to 6% in our Global 500) and better than expected racial diversity.
One trailblazer in Asia is EY Japan’s CEO Moriaki Kida, who spent 11 years hiding his true self until he made partner at EY. Today, he is a proud advocate for LGBTQ+ rights in Japan, particularly around same-sex marriage, a hotly debated issue in the country. “Japan’s lack of same-sex marriage recognition makes it harder for LGBT+ talent and executives to stay or relocate here. I’m committed to supporting Japan to stay competitive and appealing for business” Kida says.
Despite the current hostile climate for the trans community, we were also heartened to celebrate two openly trans leaders who made our inaugural ranking. We hope that as this important list develops in the years to come, more leaders will feel inspired to be their authentic selves at the office.
We spoke to some CEOs who, despite being publicly out, prefer not to attach their personal lives to their businesses for fear of repercussions back in their home countries. Lest we forget, as Human Rights Watch carefully monitors each year, those who live in many fast-growing economies in Africa or heavyweights like Russia and China, don’t just face career suicide by being openly out–they risk their lives.
Today we celebrate the leaders who have bravely blazed a trail, leaving the path clear for the next generation. One thread that unites many of them is a story of courage. Coming out is one of life’s biggest challenges and they’ve channeled this experience into making them stronger leaders.
One clear example of this is Dame Julia Hoggett, the first openly gay CEO of the London Stock Exchange and the cover star of the European edition of Fortune magazine, who says:
“If you have the privilege of being a senior leader, then you must use that privilege to speak up for those who are less able, or feel they are less able, to do so”.
