NEW YORK — The title of Most Powerful Businesswoman is going, going, gone to eBay Inc.'s Meg Whitman.
The president and CEO of the auction Web site surpassed Carly Fiorina, chairman and CEO of computer equipment maker Hewlett-Packard Co., who has held the title every year since Fortune magazine began its annual list of most powerful women in business in 1998.
Whitman earned Fortune's top spot due to eBay's significant growth over the past year. EBay's earnings last quarter were double Wall Street's expectations, and the company recently acquired Baazee.com, the largest online marketplace in India.
Meanwhile, Hewlett-Packard — the 11th-largest U.S. corporation with $73 billion in revenues — struggled over the past year with competition and weak financial results.
Taking the No. 3 spot was Avon Products Inc. chairman and CEO Andrea Jung, while Xerox Corp. chairman and CEO Anne Mulcahy was No. 4 and Marjorie Magner, chairman and CEO of Citigroup Inc.'s global consumer group, placed fifth.
Oprah Winfrey ranked No. 6, while Citigroup Inc. finance chief Sallie Krawcheck, Fidelity Management and Research president Abigail Johnson, ChevronTexaco Corp.'s executive vice president of global downstream Pat Woertz and Pfizer Inc. executive vice president and president of global pharmaceuticals Karen Katen rounded out the rest of the top 10.
New arrivals to the list include Morgan Stanley's Zoe Cruz, Frito-Lay's Irene Rosenfeld and Reynolds American's Susan Ivey.
Fortune rates the women based on the size of their employer or business and its importance in the global marketplace, their clout within the company, their career trajectory and their cultural and social impact.