The new appointment means that Duckett will become the third permanent Black woman CEO in the history of the Fortune 500 — the second this year. Rosalind Brewer was appointed to CEO of Walgreens this January.
“I often think about the day my father asked me to help him plan his retirement, and I had to tell him, ‘Dad, your pension is not enough,'” said Duckett. “Now, thanks to his work and sacrifices and the support of many others who have guided me throughout my life and career, I am blessed to join TIAA, which has paid out over $500 billion of lifetime income and other benefits since its founding in 1918. I am extraordinarily grateful for the opportunity to lead a company that has helped millions of people retire with ‘enough’ to live in dignity and excited about the opportunity to help TIAA chart its next 100 years.”
Duckett will join TIAA on May 1 from JPMorgan Chase, where she was CEO of Chase Consumer Banking.
Duckett is a force in executive in finance. In 2019, she was named one of Fortune’s Most Powerful “Women to Watch,” and American Banker magazine named her the 7th Most Powerful Woman in Banking. She was also named to Black Enterprise magazine’s Most Powerful Women in Corporate America list.
The Executive Leadership Council, the preeminent membership organization committed to increasing the number of global Black executives in C-Suites, on corporate boards, and in global enterprises, released statements congratulating Duckett’s new position.
“On behalf of our more than 800 members, including our nearly 350 Black women executives, it is my great honor to congratulate ELC member Thasunda Brown Duckett on her historic appointment as CEO of TIAA. The Executive Leadership Council (ELC) commends TIAA’s inspired selection of a Black woman as its next CEO, who will succeed Roger Ferguson, who is also an ELC member. Ms. Duckett raises the bar for companies by illustrating the remarkably high caliber of diverse executives qualified to serve as CEO. The ELC and our members proudly applaud Ms. Duckett and her accomplishment,” said Crystal E. Ashby, Interim President and CEO.