Good morning, Broadsheet readers! Today we hear from Intel President Renee James, who talked yesterday at Fortune Brainstorm Tech about her company’s plan to play catch-up in mobile. Read on for some ideas on why HSN CEO Mindy Grossman would turn down the top job at J.C. Penney. Have a great day.
• Intel President: We missed the mobile revolution. At Fortune Brainstorm Tech in Aspen, Intel President Renee James explained why the chip-maker was late to catch on to mobile. “Success can breed complacency and fear,” says James. “We didn’t appreciate that the iPhone was the advent of mobile and ultra-mobile computing.” The company ambitiously announced that it wants its mobile chips to power 40 million new tablets shipping this year.
• Susan Cameron to America: I “vape” and you should too. The CEO of No. 2 tobacco firm Reynolds American is a former smoker who now uses electronic cigarettes. Now that Reynolds American has agreed to acquire competitor Lorillard in a $27.4 billion deal, she will have the market presence to push the broader industry toward non-combustible smokes.
• Erin Andrews sidelines Pam Oliver. After serving for 20 years as Fox’s top NFL sideline reporter, 53-year-old Oliver will be replaced by 36-year-old Andrews. “I live in the real world and I know that television tends to get younger where women are concerned,” says Oliver, in response to the news. Oliver will now join Fox’s No. 2 sports team, which she says is “not chopped liver” and will give her the opportunity to work with an “up-and-coming crew.”
IN THE HEADLINES
• eBay to share diversity data. The tech company will join the likes of Facebook, Yahoo and Google in revealing its workforce demographics. No specifics on timing, but likely in the coming weeks. Apple is now one of the few Silicon Valley companies to not go public with its diversity numbers and it is worth noting that the company has only two women — retail exec Angela Ahrendts and board member Andrea Jung — in its senior management.
• Yahoo wants to bring the concert to your couch. When the Dave Matthews Band plays to 15,000 fans in the Jacksonville, Fla. tonight, Yahoo will also make the concert available to unlimited viewers online. The event will mark Yahoo’s first effort to supply free live video streams of a different concert each day. The new platform, called Screen, is CEO Marissa Mayer’s attempt to compete directly with Google’s YouTube.
• MOVERS AND SHAKERS: Julie Turner, Slate’s deputy editor since 2008, will become editor in chief of the online magazine. Patti Cazzato a veteran retail executive who previously worked at Levi Strauss, will become the first woman CEO to lead messenger bag maker Timbuk2. Marta Tellado, a VP for global communications at the Ford Foundation, will become CEO of Consumer Reports. Christa Quarles, former Disney head of mobile and social games, will become CBO at neighborhood social network Nextdoor. Know a woman at your company who is moving up or moving on? Email me at email@example.com.
Why HSN’s Mindy Grossman Likely Turned Down J.C. Penney’s Offer
The search for J.C. Penney Co.’s next chief executive will continue to drag on, after Home Shopping Network CEO Mindy Grossman reportedly turned down the role. Grossman, who has run HSN since 2006, arguably had an opportunity to advance her career by leaving her role as chief of a $3.4 billion-per-year revenue company to lead JCPenney’s $12 billion revenue business.
So why did she turn down the gig? Grossman did not respond to Fortune’s request for comment, but here are three reasons why the home shopping exec likely said thanks but no thanks:
- JCPenney’s brand may be beyond fixing. Grossman is no stranger to turning around faltering companies. When she became CEO of HSN in 2006, the television network was suffering from an outdated brand that was selling products that weren’t relevant or aspirational for its female-heavy customer base. Grossman worked to change the company’s culture and in turn its reputation. But JCPenney has repeatedly tried to rebrand itself as a relevant retailer, but has consistently failed to convince customers of its value. Maybe that’s why JCPenney actually has a lower market cap than does HSN, despite its much larger sales figures.
- She built her reputation on performance. Although interim CEO Mike Ullman said in February that the worst is behind JC Penney, the retailer is still facing the side effects of cutting 2,000 jobs and closing under-performing stores. Signing up to lead JCPenney now would mean Grossman would likely deliver mostly bad news to shareholders in the immediate term. At HSN, she has done just the opposite. Since 2006, Grossman has handily outperformed the S&P 500 and has generated the highest returns to investors of any other Fortune 1000 company led by a woman CEO.
- There are better fish in the sea. The retail industry is full of attractive executives openings for top talent like Grossman. Target, for example, is still looking for its next CEO and Grossman is reported to be a top candidate. Teen retailer Abercrombie & Fitch also could start the executive search as early as next February. If Grossman is planning a move away from HSN, she could be biding her time until the right opportunity comes along.
What did I miss? Email me at firstname.lastname@example.org with your thoughts.
IN CASE YOU MISSED IT
• Women can now become bishops in the Church of England. Twenty years after the Church of England allowed women to become priests, it is allowing them to be ordained as bishops. Anglican churches in New Zealand, Canada, Australia and the U.S. already permitted women to serve under the title of bishop.
Workplace pregnancy discrimination is still a huge problem. 5,342 pregnancy discrimination charges were filed with the Equal Employment Opportunity Commission last year, up from 3,900 cases in 1997. Women are working more during and after pregnancy than ever before, yet many employers still refuse to honor pregnant workers’ requests for temporary accommodations based on medical need.
WHAT I'M READING
|I've learned to rely on my instinct, impulse, and passion. This is what entrepreneurs do best. It's what makes your company unique--the heart of your business, the engine... I've come to realize that when you have your first success, it is often the essence of who you are and what you do. Trust that.|
|-- Designer Diane von Furstenberg tells Inc. how she persevered to create one of the world's most popular fashion lines.|