To begin with, Singapore's Temasek Holdings CEO Ho Ching dropped 25 places from No. 5 in last year’s poll. This is likely due to how Forbes changed the way it ranked the women, basing this year’s list less on wealth and power and more on creative input and entrepreneurship. Forbes also said on its website that “speculation remained as to whether Ho would remain CEO”, after Temasek Holdings “hired and promoted several high-level executives to support her.” 
The Most Powerful Women In The World
1. Michelle Obama, First Lady, U.S.
2. Irene Rosenfeld, Chief Executive, Kraft Foods
3. Oprah Winfrey, Talk show host and media mogul
4. Angela Merkel, Chancellor, Germany
5. Hillary Rodham Clinton, Secretary of State, U.S.
6. Indra Nooya, Chief Executive, Pepsico
7. Lady Gaga, Singer and performance artist
8. Gail Kelly, Chief Executive, Westpac
9. Beyoncé Knowles, Singer and fashion designer
10. Ellen DeGeneres, Talk show host
11. Nancy Pelosi, Speaker of the House, U.S.
12. Angela Braly, Chief Executive, Wellpoint
13. Janet Napolitano, Secretary, Homeland Security, U.S.
14. Cynthia Carroll, Chief Executive, Anglo American
15. Sheila Bair, Chair, Federal Deposit Insurance Corporation
16. Sarah Palin, Political maverick and commentator
17. Mary Schapiro, Chair, Securities and Exchange Commission
18. Ellen Kullman, Chief Executive, DuPont
19. Sonia Sotomayor, Supreme Court Justice, U.S.
20. Ursula Burns, Chief Executive, Xerox
21. Angelina Jolie, Actor and UN Goodwill Ambassador
22. Katie Couric, News anchor
23. Kathleen Sebelius, Secretary, Health & Human Services
24. Anne Lauvergeon, Chief Executive, Areva
25. Elena Kagan, Supreme Court Justice, U.S.
The Most Powerful Women In The World
1. Michelle Obama, First Lady, U.S.
2. Irene Rosenfeld, Chief Executive, Kraft Foods
3. Oprah Winfrey, Talk show host and media mogul
4. Angela Merkel, Chancellor, Germany
5. Hillary Rodham Clinton, Secretary of State, U.S.
6. Indra Nooya, Chief Executive, Pepsico
7. Lady Gaga, Singer and performance artist
8. Gail Kelly, Chief Executive, Westpac
9. Beyoncé Knowles, Singer and fashion designer
10. Ellen DeGeneres, Talk show host
11. Nancy Pelosi, Speaker of the House, U.S.
12. Angela Braly, Chief Executive, Wellpoint
13. Janet Napolitano, Secretary, Homeland Security, U.S.
14. Cynthia Carroll, Chief Executive, Anglo American
15. Sheila Bair, Chair, Federal Deposit Insurance Corporation
16. Sarah Palin, Political maverick and commentator
17. Mary Schapiro, Chair, Securities and Exchange Commission
18. Ellen Kullman, Chief Executive, DuPont
19. Sonia Sotomayor, Supreme Court Justice, U.S.
20. Ursula Burns, Chief Executive, Xerox
21. Angelina Jolie, Actor and UN Goodwill Ambassador
22. Katie Couric, News anchor
23. Kathleen Sebelius, Secretary, Health & Human Services
24. Anne Lauvergeon, Chief Executive, Areva
25. Elena Kagan, Supreme Court Justice, U.S.
