Just 27 women are CEO at Fortune 500 companies, but that number is likely about to grow.
On Thursday, Gap Inc. announced it will split into two independent publicly traded companies — one for its popular and affordable Old Navy brand and a second company, currently referred to as "NewCo," for the conglomerate's other brands, including Athleta, Banana Republic and Gap. "It's clear that Old Navy's business model and customers have increasingly diverged from our specialty brands over time, and each company now requires a different strategy to thrive moving forward," said Robert Fisher, Gap's board chairman.
Sonia Syngal, currently Old Navy's CEO, is expected to stay on with the brand as it becomes a publicly traded company. That would mean that 28 Fortune 500 companies currently have women CEOs, and six have women CEOs of color.
In 2017, there were a record-breaking 32 female executives serving as CEOs of Fortune 500 companies but by May of 2018, this number had dropped by 25 percent to just 24 female executives.