Three Va. CEOs make world’s most powerful women list

Three Virginia CEOs made Fortune’s 2024 list of the world’s 100 Most Powerful Women in business, which the media company released Wednesday.

Kathy J. Warden, chair, president and CEO of Falls Church-based Fortune 500 defense contractor Northrop Grumman ranked highest among the trio of Virginia leaders, taking the No. 25 spot — a drop from 2023 when she ranked as No. 20.

In January, Warden became chair of the Greater Washington Partnership. She also serves on Merck’s board and is board chair of global nonprofit Catalyst.

Northrop Grumman reported $39.3 billion in sales in 2023, an increase of 7% from the previous year. The company employs more than 100,000 workers, including 6,800 in Virginia.

Phebe N. Novakovic, chairman and CEO of Reston-based Fortune 500 defense contractor General Dynamics, immediately followed Warden on the list, ranking No. 26. Novakovic also trailed Warden by one spot on the list last year, when she was ranked No. 21.

A graduate of Smith College and the Wharton School at the University of Pennsylvania, Novakovic has led the world’s sixth largest aerospace and defense company since 2013. General Dynamics employs more than 100,000 people and recorded $42.3 billion in revenue for fiscal 2023, a 7.3% increase from 2022.

Before joining General Dynamics in 2001, Novakovic worked for the CIA, the federal Office of Management and Budget, and under two deputy defense secretaries.

Toni Townes-Whitley, who took the reins at Reston federal contractor Science Applications International Co. (SAIC) a year ago, made the Fortune list for the first time this year, debuting at No. 95. One of only two Black female Fortune 500 CEOs, Townes-Whitley previously served as president of Microsoft’s U.S.-regulated industries, president of CGI Federal and held management roles at Unisys. SAIC has 24,000 employees and reported revenue of $7.7 billion in FY 2023.

Internationally, General Motors CEO Mary Barra topped this year’s list, followed by CVS Health CEO Karen Lynch. Accenture Chair and CEO Julie Sweet, who has worked in the past from the international professional services company’s Arlington County office, was ranked No. 4, after Citigroup CEO Jane Fraser.

Compiled by Fortune’s editors, the list is based on the female leaders’ company size and health, career path, influence beyond their organization and how they wield power. The ranking, global in scope for the second year in a row, has 12 leaders from East Asia, eight apiece from France and the U.K., three each from Australia and Singapore, and two apiece from Spain, Brazil, and Germany.

“Since its inception, the Most Powerful Women in business list has served as a powerful reminder of the tremendous impact women leaders continue to have in shaping business today,” Alyson Shontell, Fortune’s editor-in-chief and chief content officer, stated in a release. “They are not just adapting to change; they are driving meaningful transformation.”

This article has been corrected since publication.