The outrage over George Floyd’s murder was a big wake-up call for America’s CEOs. There were plenty of moral reasons for them to take action, but it almost immediately became clear that there were plenty of business reasons to do so as well: In the month after the killing, survey data showed an overwhelming majority of the American public wanted executives to speak up and to act on racial inequality in the United States.
Many business leaders did just that. At a Yale CEO Forum last spring, Ken Frazier, the CEO of Merck and one of four Black CEOs in the Fortune 500, spoke personally about Floyd, saying, “This African American man could be me or any other African American man” and terming the killing “a defining moment for our country when it comes to the issues of race.” Soon afterward, Frazier and then-IBM CEO Ginni Rometty organized several dozen other CEOs and more than $100 million to launch the OneTen workforce initiative to secure one million good jobs for Black wor
POLITICO
What George Floyd Changed
The protests over one man’s death touched far more aspects of American life than just criminal justice. Seven thinkers reflect on how America is (and isn’t) different now.
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“Breonna Taylor [became] a household name.”
Keisha N. Blain
“A big wake-up call for America’s CEOs.”
Jeffrey Sonnenfeld
Monica C. Bell
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In the year since George Floyd died under the knee of a Minneapolis police officer, the explosive waves of national protest that followed have taken on almost a settled meaning: They were calls for police reform, and for America to take a hard look at the racial injustice threaded through its civic life.
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It is undeniable that there is a racial divide among Black women in the workforce. According to a report by the Bureau of Labor Statistics, Black women only make 68% of White men’s earnings. When it comes to entrepreneurship, even though Black women represent 42% of new businesses, a 2018 report by American Express revealed that the average annual sales for businesses owned by Black women was $27,752 in 2012 (the most recent figure available), compared to $170,587 for white women and $143,731 for all women. Funding can make a difference and Black female founders only receive 0.64% of venture funds. Through