Davis is the latest business leader to praise its founder.
Davis, who was born and raised in a working-class neighborhood in Oakland, Calif., has received a succession of accolades for her work in helping create a welcoming environment for workers.
She was named one of Fortune 500’s 50 Most Powerful Women in Business in 2018 and in 2019 was named a member of the Order of the American Empire by the American Institute of Architects.
As CEO, she has helped lead the company to record profits for the past three years and is widely credited with creating a culture of collaboration that has helped the company reach its highest sales ever.
She also has a record of hiring from the bottom up, which she says has helped attract top talent from the private sector.
Davis also has raised millions for charities.
Her daughter, Lisa Davis, is a professor at California State University, Northridge and the president of the Berkeley Center for Public Policy.
Her sister, Lisa Wozniak, is director of the California Association of Realtors and is an author.
On Thursday, Davis said the news that she would be awarded the $20 million Davis Award was a “game changer” and that it “will enable me to continue to build my business.”
Davis said she would like to continue “building a legacy of leadership for the Davis family.”
Davis and her husband, Scott, were the first African-American female CEOs of the nation’s largest employers in 2009, when she joined the company as chief operating officer and CEO.
She has also worked to raise awareness of issues such as income inequality, climate change and poverty.
Her daughter, who has worked at the company for five years, said in a statement that she was pleased to be honored.
“I am humbled and honored to be named the recipient of this award.
I am also humbled that my daughter and I will be working to ensure that the Davis Foundation continues to be a strong partner in advancing social justice and economic justice for all,” she said.
The Davis Foundation announced that the first-ever Davis Awards were being given to a person of color, women of color and people of color.