Good morning, Broadsheet readers. There may be a record number of women in the U.S. Senate, but fewer of them are now in positions of power. Read on to hear what Mellody Hobson has to say about boardroom diversity and to learn where high childcare costs are keeping some women out of the workforce. Have a great Tuesday!
• More women, less power. After the November elections, there are now 100 female lawmakers in Washington. Yet with the Republican takeover of the Senate, women are losing more leadership and committee roles, making it more difficult for them to wield power. “It’s not to say that women can’t and won’t exert leadership, but we do know that titles matter, those formal positions of leadership matter,” Debbie Walsh, director of the Center for American Women and Politics at Rutgers University, told the New York Times.
ALSO IN THE HEADLINES
• Parent’s choice? Likely presidential candidate Carly Fiorina said “parents have to make decisions for their family” when it comes to vaccinating their children. The former HP CEO’s comment came on the heels of similar remarks from New Jersey Gov. Chris Christie, and in the midst of a measles outbreak in California. In response, presumed presidential candidate Hillary Clinton tweeted: “The science is clear: The earth is round, the sky is blue, and #vaccineswork. Let’s protect all our kids. #GrandmothersKnowBest”
• Bresch’s big buy. Mylan Inc. CEO Heather Bresch announced on Monday that her company is acquiring certain women’s healthcare assets of India’s Famy Care Ltd. for $750 million. Bresch’s buy comes in the wake of a controversial decision to acquire part of Abbott Laboratories, a so-called tax inversion transaction that remains under regulatory review.
• ‘I go there.’ To increase diversity in executive leadership as well as in the boardroom, more leaders need to step up and own the issue, Mellody Hobson told Fortune’s Jennifer Reingold. Hobson, who is a director of Starbucks, DreamWorks and Estée Lauder, said “I don’t fear the [conversation]. I speak up on [diversity] issues as much as I speak up on any other.”
• Luxurious Lands’ End? The apparel company known for its casual American style has appointed Dolce & Gabbana president Federica Marchionni as its next CEO. The move is an interesting one for Lands’ End, Fortune’s John Kell points out, because no item currently on its website retails for more than $100. Marchionni, who comes from a luxury background, is used to selling dresses that retail in the thousands.
• Real revenge retailing. Tory Burch’s namesake company is now valued at well over $3 billion. The news of Burch’s growing valuation comes soon after her ex-husband, Chris Burch, announced that his retail company C. Wonder will be closing all of its stores. Burch has also recently expanded her line into areas like home goods and kitchenware.
• $1 to $19.4 million. HP CEO Meg Whitman, whose base salary is $1, earned $19.6 million in 2014 once you take into account stock awards and incentives.
• MOVERS AND SHAKERS: Maureen Kerr, a former Barclays executive, has joined Forbes Private Capital Group as a senior managing director.
IN CASE YOU MISSED IT
• Keeping women out. Childcare expenses in Australia are among the highest in the developed world, forcing some women to choose between work and staying home. A 43-year-old single mother who pays more than $80 U.S. dollars a day for her two-year-old boy to have childcare said, “I earn a pretty good salary so I honestly don’t know how people on average salaries manage to pay childcare, especially if they have more than one child.”
• ‘Gisele Bundchen’s husband’ After the Patriots and quarterback Tom Brady won the Super Bowl on Sunday, a Brazilian newspaper ran a headline on the front page that read: “Gisele Bundchen’s husband wins Superbowl for 4th time.”
• Searching for words. Right before 19-year-old American skiing prodigy Mikaela Shiffrin hits the slopes for a big race, she does something a bit bizarre: She’ll work on a word search. “I find word searches to be calming,” she explains, adding that it helps her from becoming overly focused on the pressures of the task at hand.
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ON MY RADAR
|Envisioning what is not obvious makes things unexpected. Making unexpected choices generates interesting projects.|
|-- Newly appointed Lands' End CEO Federica Marchionni.|