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The leaders of America’s largest companies will soon only consist of three black CEOs. Early next year the longtime chief executive of American Express Kenneth Chenault, will retire. That will leave Merck, TIAA and JCPenney as the only businesses in the Fortune 500 with black leaders unless another company hires a black CEO.

On top of this, all three of those leaders are men because there hasn’t been a black woman CEO in the Fortune 500 since Ursula Burns left Xerox last year.

It is not uncommon that the number of black executives leading America’s largest companies is low, however three is extremely low. There were seven black CEOs heading Fortune 500 companies in 2007, six in 2013, and five in 2015.

CNN reports that on Wednesday Chenault announced that after 37 years at Amex, including 16 as CEO he will step down from the top job.

That leaves Merck’s (MRK) Ken Frazier, TIAA’s Roger Ferguson and JCPenney’s (JCP) Marvin Ellison as the remaining three black CEOs in the Fortune 500. Frazier is the only black CEO at a company in the Dow 30.

According to the Executive Leadership Council which promotes diversity in corporate America, the lack of diversity in corporate America even extends to the boardroom with just 5.6% of board seats at Fortune 500 companies being held by black men, and just 2.2% held by black women.

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