A data story Β· 2000β2025
American business speaks with an accent.
Across the S&P 1500 β Americaβs leading public companies β one in six CEO seats in 2024 was held by someone born in another country. This project traces who they are, where they came from, and how they got to the corner office.
01 Β· The rise
The corner office keeps getting more international.
Track the share of immigrant chief executives across the largest U.S. public firms, year by year.
2000: a modest start
β
At the turn of the millennium, immigrants held fewer than one in twelve CEO seats across the S&P 1500.
A quarter-century climb
Through the dot-com bust, the financial crisis, and a pandemic, the share of foreign-born CEOs kept grinding upward β even as immigration itself became one of the most contested issues in American politics.
2024: one in six
β
By 2024, foreign-born chief executives held β seats β the highest share on record, and still climbing.
Immigrant share of CEO seats
S&P 1500 Β· 2000β2024 (partial 2025 excluded)
Source: ExecuComp + Compustat, S&P 1500. Bahar, Glennon, Hernandez & Li.
02 Β· Origins
Seventy-nine countries send CEOs to America.
Every shaded country below has produced at least one CEO of a major U.S. public company since 2000.
A world map of bosses
The 1,021 foreign-born CEOs in the data were born in 79 different countries, on every inhabited continent.
The Anglophone pipeline
Canada, the United Kingdom, Australia, Ireland and New Zealand together account for β CEOs β sharing language, business culture, and deep corporate ties with the U.S.
The new pipelines
India alone produced β CEOs β Sundar Pichai and Indra Nooyi among them β with growing contingents from Taiwan, Israel, and the Middle East.
The full tally
Hover any country for its CEOs and their companies. The palette is scaled by headcount, from a single CEO to the United Kingdom's β.
Where America's immigrant CEOs were born
Number of CEOs by country of origin, 2000β2021
Darker red = more CEOs. Countries in light gray sent none.
03 Β· Where they land
One in five California CEOs is an immigrant.
Foreign-born chief executives cluster where the talent magnets are β the coasts, the tech hubs, the finance centers.
Foreign-born share of CEO seats by headquarters state
States with 200+ CEO-year observations Β· S&P 1500, 2000β2025
Share of CEO-firm-years with a foreign-born CEO, by the firm's headquarters state.
04 Β· The road to the corner office
They didn't parachute in. They worked their way here.
New data traces the country-by-country footprint of more than 8,000 CEOs β where each was born, studied, and worked before reaching the top.
A thousand journeys, one destination
Each arc traces CEOs from their birthplace to the United States. Thicker arcs mean more CEOs made that journey.
Careers with stamps in the passport
β
of immigrant CEOs worked outside the United States β nearly seven times the rate of their U.S.-born peers (β). The blue circles mark where those foreign postings happened.
But most roads run through America
The bigger surprise: most immigrant CEOs built nearly their whole career inside the United States. They arrived young β often for graduate school β and climbed the same ladders as everyone else.
Three journeys
Follow three real career paths β each hop is a job change across borders, ending at the top of a major American corporation.
Career flight paths
From birthplace to U.S. corner office
Source: CEO country-exposure histories (born, studied, worked), 2026 build.
05 Β· Beyond the corner office
The whole C-suite is going global.
The CEO is the visible tip. Underneath: executive teams and boardrooms drawn from around the world.
Where the executives come from
Top non-American nationalities among top-management-team members
Source: BoardEx TMT profiles (executives with recorded nationality, deduplicated). Bahar, Glennon, Hernandez & Li.
06 Β· Who they are
Same ladder, different starting point.
On age and gender, immigrant CEOs look almost identical to their U.S.-born peers. Education is where the paths split.
Where they studied
Share of CEOs with any education outside the United States
Most immigrant CEOs were educated at home first β then came to the U.S. and stayed.
07 Β· Where they lead
From mines to microchips.
Some industries are strikingly open to foreign-born leadership; others barely at all.
Most internationally led industries
Immigrant share of CEOs by industry (industries with 15+ CEOs)
Source: ExecuComp + Compustat industry groups, S&P 1500.
The household names
A selection of the most recognizable immigrant CEOs in the data, ranked by their company's peak revenue.
08 Β· The tight leash
Getting there is one thing. Staying is another.
The research behind this project asks a harder question: are immigrant CEOs judged by the same standard once they're in the job?
In Asymmetric Accountability: Immigrant CEOs and the Tight Leash, we find that immigrant CEOs operate under closer scrutiny than their U.S.-born counterparts. Their exits are more sensitive to performance: when results sour, the foreign-born boss is more likely to go. On earnings calls, analysts direct more challenging, more negative questioning at immigrant CEOs β who, in turn, adopt a systematically more positive communication style, as if leaning against the wind.
For context: dismissals are no rarity at the top. In the S&P 1500 between 2000 and 2018, about β of CEO departures were outright dismissals. Whether that axe falls evenly β across origin, performance, and boardroom composition β is precisely what the working paper takes apart.
Notes
Data & methods
- Sample
- CEOs of S&P 1500 companies, 2000β2025: 50,310 CEO-firm-year observations covering 8,126 CEOs at 3,525 firms (ExecuComp spine; one CEO per firm-year).
- Immigrant status
- Country of birth classified for 99.8% of CEOs through a five-stage funnel: manual coding, BoardEx profiles, AI-assisted web search, rule-based triage, and genealogical verification (FamilySearch). "Immigrant" means born outside the United States; ambiguous default codings carry a low-confidence flag.
- Career geography
- Country-level exposure histories β where each CEO was born, studied, and worked β for 8,056 CEOs (9,346 CEO-country records).
- Executive teams & boards
- Top-management and board composition with nationality from BoardEx (20,687 executives with recorded nationality; 2,503 directors across 733 boards; top-1,000-firms sample).
- Departures
- CEO dismissal classifications from Gentry, Harrison, Quigley & Boivie, Strategic Management Journal (2021), S&P 1500, 2000β2018.
- Team
- Dany Bahar (Brown University), Britta Glennon (Wharton), Exequiel Hernandez (Wharton), and coauthors. CEO panel constructed by Exequiel Hernandez with Anja Tuschke and Simone Eulitz (LMU Munich). Data and code available from the authors on request.