Sheryl Sandberg, the chief operating officer of Facebook, wrote the 2013 book, "Lean In: Women, Work and the Will to Lead." She dropped from No. 5 in 2013 to No. 10 this year.
"One of our criteria is the social and cultural relevance of these women. Well, Sheryl Sandberg was all over the place this year," Fortune's senior editor at large Patti Sellers said on "CBS This Morning." "We rated her at No. 5, she's No. 10 this year. She's the most highly paid woman on the most powerful women list. $38 million last year. She's a billionaire."
Watch what Sandberg had to say about women in the workplace on "60 Minutes."
9. Abigail Johnson
Johnson, the daughter of 83-year-old CEO Edward C. Johnson III, oversees all of Fidelity's businesses.
8. Patricia Woertz
Patricia Woertz is CEO of Archer Daniels Midland Co. She's held the position since 2006.
7. Irene Rosenfeld
Irene Rosenfeld is CEO of Kraft Foods. She led the restructuring and turnaround of key business in the U.S., Canada and Moscow.
6. Meg Whitman
Meg Whitman is the chairman, president and chief executive officer of Hewlett-Packard. She is the only woman to lead two large U.S. public companies: HP and Ebay.
Watch what Whitman had to say about the future of her company in June on "CBS This Morning."
5. Ellen Kullman
Ellen Kullman, president, chair of board and CEO of DuPont, is also a former director at General Motors.
4. Marillyn Hewson
Marillyn Hewson, president and chief operating officer of Lockheed Martin Corp., manages 116,000 employees around the world along with the largest weapons program in U.S. history.
Watch what Hewson had to say about her company and career last year on "CBS This Morning."
3. Indra Nooyi
Indra Nooyi, CEO of PepsiCo Inc., directed the company's global strategy for more than a decade and led PepsiCo's restructuring.
2. Mary Barra
Mary Barra, CEO of General Motors, jumped from No. 29 in 2013 to No. 2 on this year’s list. Barra's jump is due to her leading the crisis at GM and simultaneously leading an extensive cultural transformation of the company.
"Mary Barra probably has the toughest CEO job in corporate America right now," Fortune's senior editor at large Patti Sellers said on "CBS This Morning." "And the vast consensus is that she's doing a very good job. And she is actually using this crisis, this product crisis, to force a cultural transformation at GM."
"And what she's saying to her people is really interesting. She is saying, 'we must never forget this moment,'" Sellers said.
1. Virginia Rometty
Virginia 'Ginny' Rometty, chairman, president and CEO at IBM, takes the No. 1 spot for the third year in a row.
"The reason that Ginny Rometty is No. 1 on the list is the market capitalization, the market value, the stock market value to investors of IBM is nearly $200 billion," Fortune's senior editor at large Patti Sellers said on "CBS This Morning." "Revenue has declined, but...probably more important is to increase the value to investors."
"It's been a struggle since Ginny Rometti took the job," Sellers said. "But she seems to be, and this is what our cover story says, she seems to be turning the corner in terms of re-positioning IBM for a very profitable future."
Fortune's full list
To see the Fortune magazines's full list of the 50 most powerful women in business, click here.