(FORTUNE Magazine) – 12 Who Fell Off

A dozen of last year's names are gone.

2004 RANK 2 Carly Fiorina Chairman and CEO Hewlett-Packard Fired

5 Marjorie Magner Chairman and CEO, Global Consumer Group Citigroup Retired

23 Myrtle Potter President, Commercial Ops. Genentech Retired

25 Gail Berman President, Entertainment, Fox Broadcasting News Corp. Changed jobs

27 Sherry Lansing Chairman, Motion Picture Group Paramount Retired

34 Janet Robinson EVP and COO New York Times Co. Company is struggling

35 Judy Lewent EVP, CFO, President, Human Health Asia Merck Company is really struggling

40 Vanessa Castagna EVP, Chairman, CEO, Stores J.C. Penney Changed jobs

41 Deb Henretta President, Global Baby and Adult Care P&G Bumped from list by new candidates

46 Marilyn Carlson Nelson Chairman and CEO Carlson Cos. Bumped

47 Jenny Ming President Old Navy Bumped

50 Carol Kovac General Manager, Healthcare and Life Sciences IBM Bumped

10 Highest Paid Corporate women who raked it in.

Meg Whitman EBAY $29.9 million

Andrea Jung AVON $22.1 million

Suzanne Johnson GOLDMAN SACHS $17.5 million

Zoe Cruz MORGAN STANLEY $17.5 million

Ann Daly DREAMWORKS $16.8 million*

Marie Toulantis BARNES & NOBLE $15.8 million

Patricia Russo LUCENT $15.5 million

Anne Mulcahy XEROX $14.1 million

Myrtle Potter GENENTECH $14.0 million

Susan Desmond-Hellmann GENENTECH $13.4 million

Total compensation** in 2004

Women on FORTUNE's Power 50 list

Women not on the list

5 Women to Watch

Not quite in the top 50, but getting there.

Carolyn Corvi, 54, Boeing Vice President and General Manager, Airplane Production, Boeing Commercial Airplanes Corvi's job is to produce Boeing's commercial jetliners, and the orders are rolling in: 647 this year. That's the most since 1998, and Boeing is outselling Airbus again.

Gail Berman, 49, Viacom President, Paramount Can Fox's former star help Paramount shed its stodgy image? Stay tuned.

Michelle Peluso, 34, Sabre Holdings CEO, Travelocity Peluso reversed Travelocity's $55 million loss in 2003 to $13 million in operating profits last year.

Mary Erdoes, 38, J.P. Morgan Chase CEO, J.P. Morgan Private Bank Since she became the bank's chief executive in March, Erdoes has boosted profits, signed 200 new clients, and hired 400 employees.

Dorothy Kim, 42, Starbucks SVP, Supply Chain and Coffee Operations Kim oversees the java journey that brings 299 million pounds of beans from 25 countries to more than 10,000 Starbucks stores worldwide.

*Not including value of stock options that were granted prior to the IPO.

**Total compensation includes annualized base salary, bonuses, the present value of option grants (calculated by Equilar using the Black-Scholes formula as of the grant date), restricted stock awards, long-term incentive-plan payouts, and other compensation as disclosed in company proxies. Equilar Inc. of San Mateo, Calif., prepared the chart by looking at companies with more than $1 billion in revenues that filed proxies as of Sept. 1.