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The Top Black CEOs

We have gotten several requests from readers who would like us to produce more business and financial information on this site. In response to those requests and the growing financial sophistication of the community, we are today launching our new business category of the web site. This is the first article in that category, but we will be writing more about these issues in the days, weeks and months to come.

On the outside, life is good for the top black CEOs. The three black men who run Fortune 500 companies have risen to the top of their fields and all of them take home millions of dollars in annual income. It's a rare achievement that only a handful of African Americans have been able to reach, all of them in the past decade.

But late last week their interconnected business worlds started to unravel. First there was the news that Merrill Lynch CEO Stan O'Neal was under fire after his company posted a record $2.2 billion loss and he authorized merger conversations with another bank without consulting his board. By Friday morning, the business media were reporting that O'Neal was history. Then on Friday afternoon, Time Warner's stock surged on the unexpected news that its CEO, Richard Parsons, might be resigning from his post as well.

Posted in business on October 29 2007, 11:06AM | Read More | Comments (22)