Good morning! Treasury Secretary Janet Yellen pushes for extra debt reduction, Kamala Harris reportedly has no less than one Wall Road chief on her facet, and girls CEOs misplaced floor in Europe this yr. Take pleasure in your Wednesday.
– Ups and downs. Whereas the share of ladies operating Fortune 500 firms within the U.S. stayed regular at 10.4% over the previous yr, the Fortune 500’s European counterpart has been extra challenged. On the second annual Fortune 500 Europe, launched at present, girls run 6.2% of firms, down from 7% final yr. That’s a lack of 4 CEO jobs, from a complete of 35 to 31, on a listing that accounts for 57% of Europe’s GDP and 14% of the world’s GDP.
Not solely did girls CEOs lose floor with regards to what number of firms they lead—their companies fell down the checklist itself by dimension.
The highest-ranked woman-led firm on the Fortune 500 Europe remains to be Engie, the French power enterprise, which claimed that honor final yr. However this yr Engie falls at No. 31 on the checklist in comparison with No. 18 a yr in the past; the corporate has mentioned elements together with a light winter decreasing demand for heating contributed to a income decline.
Engie is adopted by Eire-incorporated Accenture (No. 48, led by Julie Candy). Subsequent up are the German enterprise behind Mercedes-Benz, Daimler Truck Holding (No. 55, led by chief Karin Radstrom for the reason that begin of this month), and the French utility Veolia (No. 77, led by Estelle Brachlianoff).
Some notable year-to-year departures from this group of women-led European firms embody Sweden’s H&M; CEO Helena Helmersson abruptly stepped down from the function initially of this yr, citing the “very demanding” nature of the job. Hilde Merete Aasheim left her function because the CEO of the Norwegian aluminum and renewable power firm Norsk Hydro. Katie Bickerstaffe ended a run as co-CEO of the British retailer Marks and Spencer. Slovenian utility Petrol Group misplaced its feminine CEO. Siobhan Talbot left her function as head of Glanbia, the Irish firm behind manufacturers together with Slim Quick and Optimum Vitamin.
New entrants on the Fortune 500 Europe’s contingent of women-led companies (along with Daimler) embody Germany’s Fresenius Medical Care, led by Helen Giza, which joins the checklist at No. 199, and Belgium’s Euroclear Holding (No. 407), led by Valerie Urbain. One CEO stored her job at a brand new firm; the Belgian supplies firm Syensqo (No. 438) is led by Ilham Kadri after a derivative from Solvay.
Throughout the checklist, firms run by feminine CEOs noticed mixed income fall by 20%, with the steepest declines in telecommunications, well being care, and tech. Corporations with male CEOs—which embody the booming companies that take up the primary 30 slots on this yr’s checklist—noticed income improve year-over-year. The distinction isn’t giant sufficient to be statistically vital, Fortune‘s knowledge evaluation crew experiences, however doubtless displays the roles girls are tapped for (your basic glass cliff eventualities) or the industries the place they’re extra prone to be leaders. Normally, the Fortune 500 Europe displays the dominance of conventional industries within the area and lacks the high-growth tech companies which have grown to outline a lot of the enterprise world within the U.S. and China.
All through the area, the U.Okay. leads on gender range in management with 9 feminine CEOs, adopted by France with six. Jap Europe has only one feminine chief: Veselina Lachezarova Kanatova-Buchkova, chief of Bulgaria’s utility BEH Group.
Learn extra concerning the Fortune 500 Europe right here.
Emma Hinchliffe
emma.hinchliffe@fortune.com
The Most Highly effective Girls Each day publication is Fortune’s every day briefing for and concerning the girls main the enterprise world. Right now’s version was curated by Nina Ajemian. Subscribe right here.
ALSO IN THE HEADLINES
– Debt reduction. Forward of the Worldwide Financial Fund and the World Financial institution’s annual conferences, Treasury Secretary Janet Yellen referred to as debt a “substantial burden” to low- and center revenue international locations, pushing monetary establishments to hurry up their debt reduction efforts. She additionally pushed again towards lending practices in China, citing the nation as typically being “a barrier to creating speedy progress.” New York Instances
– Behind closed doorways. JPMorgan chief Jamie Dimon has reportedly mentioned he helps Kamala Harris within the U.S. presidential election, though he has not endorsed Harris publicly. Dimon has additionally mentioned he would contemplate a task in a Harris administration, based on this story. New York Instances
– Precedence pledge. AT&T, Capital One, Cisco, and Deloitte have launched an initiative referred to as the Athena Pledge. The venture’s aim is to encourage assist of ladies’s sports activities from different manufacturers and to make girls’s sports activities a precedence for the businesses themselves. The Gist
– Similar price. New knowledge exhibits that, within the second half of 2023, girls in abortion-ban states acquired abortions at across the identical price as they did earlier than Roe v. Wade was overturned. Telehealth performed a task right here, which girls more and more relied on based on the #WeCount report. ABC
MOVERS AND SHAKERS
HSBC named Pam Kaur chief monetary officer; she would be the first lady to carry this function. At present, she serves as HSBC’s group chief danger and compliance officer.
Starbucks named Tressie Lieberman world chief model officer. Most lately, she was CMO at Yahoo. Beforehand, she was VP of digital advertising and off-premise at Chipotle.
Nanit, a child screens and parenting tech firm, appointed Victoria Vaynberg as chief buyer officer, Grace Fu as chief authorized and administrative officer, and Maya Simon as chief income officer. Beforehand, Vaynberg was CMO at Zola, Fu was normal counsel at KAYAK, and Simon served as normal supervisor of Zola’s vendor market.
ShiftKey, a healthcare workforce options supplier, named Bhavna Kamalia CFO. She was beforehand the corporate’s government vp of finance and accounting.
Arcoro, a HR software program firm for development and subject providers, named Kristen Wright CMO. Most lately, she was CMO at Forj.
The Coca-Cola Firm appointed Bela Bajaria to its board of administrators. Bajaria is chief content material officer at Netflix.
ON MY RADAR
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PARTING WORDS
“The style business employs so many ladies, but it surely actually doesn’t favor them within the span of this unbelievable, essential stage of their lives.”
— Clare Waight Keller, present Uniqlo inventive director and former Givenchy inventive director, on the influence turning into a mom has on girls’s careers in vogue
