Good morning, Broadsheet readers! Sean Combs was indicted on sex trafficking and other charges, Nikki Haley is launching a radio talk show on SiriusXM, and Fortune reveals its inaugural LGBTQ+ Leaders list. Have a wonderful Wednesday!
- Corporate pride. Despite the queer community’s gains in other arenas, there had never been an openly LGBTQ chief executive in Fortune 500 history before 2014, when Apple’s Tim Cook made history by discussing his sexuality in a piece for Bloomberg.
"Being gay has given me a deeper understanding of what it means to be in the minority and provided a window into the challenges that people in other minority groups deal with every day," Cook wrote then. "It’s made me more empathetic, which has led to a richer life…It’s also given me the skin of a rhinoceros, which comes in handy when you’re the CEO of Apple."
Now, Cook is far from alone. While yesterday’s Broadsheet touched on the progress corporate America has and hasn’t made in the past 10 years when it comes to gender equity, today’s issue celebrates progress on a different front: The inaugural Fortune LGBTQ+ Leaders list is out. My colleagues ranked by revenue the world’s top CEOs, chairs, and cofounders who are openly part of the LGBTQ+ community. All those who made it lead companies with at least $100 million in reported revenue.
Cook sits atop the ranking, thanks to the $383 billion Apple generated in 2023, but 20% of the leaders on this list identify as women, including Beth Ford, the CEO of Land O'Lakes and the first openly gay woman to run a Fortune 500 company, and Dame Julia Hoggett, the first openly gay CEO of the London Stock Exchange, compared to just 6% of Fortune’s Global 500 CEOs. Other women on the list include Sue Nabi, the CEO of Coty; Martine Rothblatt, the CEO and chair of United Therapeutics; and Robyn Grew, CEO of the Man Group.
Virtually every leader on the list is based in the U.S. or western Europe—perhaps unsurprising since openly identifying as part of the LGBTQ+ community could not only risk leaders their careers in some countries, but their lives. Outside of those regions, Moriaki Kida, CEO and chair of EY Japan, also makes the list, and discusses the ramifications of hiding his identity for over a decade as he climbed the corporate ranks.
"Japan’s lack of same-sex marriage recognition makes it harder for LGBT+ talent and executives to stay or relocate here," Kida says. "I’m committed to supporting Japan to stay competitive and appealing for business."
And at a time when politicians are demonizing the trans community here and abroad, there are also two openly trans leaders on the ranking. As my colleagues write, "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."
Alicia Adamczyk
alicia.adamczyk@fortune.com
The Broadsheet is Fortune's newsletter for and about the world's most powerful women. Today's edition was curated by Nina Ajemian. Subscribe here.
