Just 1 % of Fortune 500 companies led by Black chief executives: World Economic Forum

Just one per cent of Fortune 500companies are led by Black chief executives, Managing Directorat the World Economic Forum (WEF), Saadia Zahidi said.

Bengaluru-headquartered information technology servicesmajor Wipro Limitedon Wednesdayannounced that it has joinedthePartnering for Racial Justice in Business initiativelaunched by the WEFto promote a culture of diversity,inclusion, equity and justice for people of all racialbackgrounds in the workplace.

“With just one per cent of Fortune 500 companies led byBlack chief executives, the need to tackle racial under-representation in business is urgent and obvious,” Zahidi wasquoted as saying in a Wipro statement.

To design racially and ethnically just workplaces,companies must confront racism at a systemic level, addressingnot just the structural and social mechanics of their ownorganisations, but also the role they play in theircommunities and the economy at large, she said.

“The Partnering for Racial Justice in Businessinitiative provides an effective platform for businesses totake individual and collective action towards racially andethnically just workplaces,” Zahidi said.

Wipro said the initiative is aimed towards driving actionand accountability for companies to confront racism at asystemic level, set new global standards for racial justice inbusiness and accomplish necessary policy changes for inclusionand advancement of professionals with under-represented racialand ethnic identities.

Chief Executive Officer and Managing Director, WiproLimited, Thierry Delaporte, said, “Without a doubt, we must beinclusive in our hiring process, create new platforms toengage with employees and alleviate existing racial tensions,encourage racial empathy, and cultivate a fully inclusive andwelcoming workplace.”

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