Fortune’s 2025 Most Powerful Women list is here

Good morning! CBS News president Wendy McMahon is out, Sesame Street finds a new home, and Fortune’s Most Powerful Women list is here.

– At the top. Today’s the day: Fortune’s Most Powerful Women in Business list for 2025 is here.

In its 28th year, this list is the definitive ranking of the women driving the present and future of global business, with 100 executives from around the world. While the list has always been data-driven, we have a new methodology this year, assigning each candidate numeric scores (for our eyes only!) on six factors: the size of their business, the health of that business, the executive’s influence, innovation, career trajectory, and efforts to make business better. The business metrics incorporate both 12-month and three-year results.

For the second year in a row and fifth time overall GM chief Mary Barra is our No. 1. Her ability to steer GM through unprecedented challenges—from strikes and accidents to tariffs and Trump 2.0—keep her atop this ranking. She’s followed by Accenture CEO Julie Sweet, Citi chief Jane Fraser, and AMD CEO Lisa Su. The top woman in Europe comes in at No. 5—Santander’s Ana Botín. She’s followed by the top woman in Asia, Tan Su Shan, who was promoted last year to lead the Singapore banking giant DBS.

Overall this list includes 52 women in the U.S. and 48 in other parts of the world—including 21 in Europe and 19 in Asia. After the U.S., China has the most women leading the business world, with 8, followed by seven each in France and the U.K.

Only 20—out of more than 50—female Fortune 500 CEOs make the list. That speaks to how competitive it has become to be named one of the Most Powerful Women in Business. More than 30 Fortune 500 CEOs didn’t make the cut!

Some who are vying to become CEOs did—like Marianne Lake, in the running to succeed Jamie Dimon at JPMorgan, and Dana Walden, a candidate to take over Disney from Bob Iger.

The newcomers represent a mix of executives whose impact is becoming clearer—like Costco’s chief merchant Claudine Adamo, who for decades has decided what Americans buy—and ByteDance CFO Julie Gao, who is steering the TikTok owner’s finances through geopolitical tensions.

At a complex moment for the global business world, this list tells us who is leading through the chaos—and poised to come out on the other side.

Emma Hinchliffe
emma.hinchliffe@fortune.com

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This story was originally featured on Fortune.com