Illustrations by Monica Ahanonu
On Wednesday, CNBC is unveiling Changemakers, a new annual list of 50 women who are innovating and transforming business at the largest companies, at startups and at philanthropic organizations.
CNBC received 720 nominations and has spent the past several months, with guidance from the Changemakers Advisory Board, evaluating the applicants’ impact through both quantitative and qualitative lenses, with a particular focus on their accomplishments during the past year.
The inaugural class of 2024 Changemakers spans 17 sectors. Leading the way are health care, with 22%; tech, with 14%; and consumer products and financial services, tied at 10%. It includes 15 startup CEOs and founders whose companies have a total valuation of more than $47 billion, and 11 public company CEOs overseeing firms with a combined market cap of about $170 billion. In addition, it features five women deploying technology to amplify the philanthropic impact of their organizations and four women shaking up the world of sports business. Nearly one-fifth of the women are based outside the U.S.
Each has accomplished a meaningful achievement in 2023, propelling a major business to a new level of growth and often tackling issues of significant importance to society.
Anat Ashkenazi, the CFO of pharmaceutical giant Eli Lilly, secured key manufacturing capacity at the dawn of a blockbuster weight-loss drug era and worked to lower the prices for insulin drugs amid heightened political scrutiny of prescription costs. RePurpose Global CEO and co-founder Svanika Balasubramanian is working to minimize and repurpose plastic waste alongside hundreds of consumer brands. Bobbie CEO Laura Modi has taken on the baby formula shortage with a new product, while Baby2Baby co-CEOs Norah Weinstein and Kelly Sawyer Patricof are upending the status quo in diaper manufacturing and distribution.
In some cases, Changemakers are taking their star power to build out new market opportunities. Alex Cooper is changing the podcast business and building a new kind of audio media empire. Actor Tracee Ellis Ross is changing the hair-care industry and more with Pattern Beauty. Naomi Osaka is shaking things up both on the tennis court and off with her media company and skincare line.
In reviewing the Changemakers, CNBC identified a couple of key trends. First, this new generation of women leaders is aligning purpose and profits, creating businesses that succeed when they achieve environmental or social good. At rePurpose Global, Balasubramanian created a model that succeeds when companies take steps to reduce their plastic production and environmental impact. Jessica Chang, the CEO of Upwards, is reimagining the business of child care to make it more widely accessible and affordable. Maayan Cohen created Hello Heart to help individuals manage cardiovascular health, while helping employers manage costs.
Changemakers are also reformers, inventing new approaches to fix broken systems. And many of them are providing female consumers with new, much-needed options in areas that have often been overlooked. Kate Ryder is closing major gaps in women’s and family health care with Maven. Mielle Organics founder Monique Rodriguez created new options for natural hair care. National Women’s Soccer League Commissioner Jessica Berman is proving the broad appeal of women’s sports and closing the pay gap among professional athletes.
And we’re seeing several women forge new paths in renewable energy, such as Dandelion Energy CEO Kathy Hannun, who is working to create a new market for geothermal energy, and Twelve’s Etosha Cave, who is focused on turning CO2 and water into aviation fuel.
While women continue to be underrepresented in the world of technology, and particularly in the cutting-edge area of artificial intelligence, several of this year’s Changemakers are playing key roles in using AI to improve and accelerate their businesses and others. Clara Shih, as the CEO of Salesforce AI, is helping companies deploy AI across their organizations. Michelle Zatlyn, co-founder and chief operating officer at Cloudflare, is giving companies AI tools to bolster cybersecurity and lower costs for vulnerable, critical infrastructure providers, including schools and local election systems. Kristin Peck, CEO of animal health company Zoetis, is using AI to improve outcomes for pets and their owners.
All these women are trailblazers in their fields, with inspiring stories and unique approaches. The Changemakers serve as a reminder that success is a result of leading in ways that are authentic.
CNBC’s Julia Boorstin is the author of “When Women Lead,” which weaves together the stories of women who have defied the odds to found and run successful organizations, with data explaining how they did it. In the book she explored the concept of “reformers” — women working to fix broken systems.