Good morning, Broadsheet readers! Valentina (@valzarya) here. Indra Nooyi’s in the hot seat, Warren Buffett is investing in a female-run financial firm, and Intel releases its mid-year diversity stats. Have a wonderful Wednesday.
• Indra in the hot seat. PepsiCo CEO Indra Nooyi is being pressured by Color of Change, a non-profit racial justice group, to step down from Donald Trump’s business advisory council. “They are a public-facing company that talks openly about diversity,” the group’s executive director Rashad Robinson told Bloomberg. “Their role on this business council is that of an enabler, and they are an enabler to Donald Trump—not just the policies but the practices that are putting folks in harm’s way.”
Robinson says the next CEOs to be targeted will be Campbell Soup’s Denise Morrison, who sits on the president’s manufacturing council, and IBM’s Ginni Rometty, who is an informal presidential advisor. It is interesting to note that the organization has targeted women specifically—particularly when there are so few of them among Trump’s advisers to begin with and so many white men to choose from. For example, Walmart CEO Doug McMillon, who yesterday said the president “missed a critical opportunity” to bring people together. Like Rometty, McMillon appears willing to stay on Trump’s panel of informal corporate advisers.
A few additional updates to yesterday’s rundown of business leaders speaking up for diversity: Scott Paul, head of the Alliance for American Manufacturing has resigned from Trump’s manufacturing council, while HPE CEO Meg Whitman made a thinly veiled jab at President Trump in a LinkedIn post.
For Fortune‘s summary of who said what about Charlottesville, click
ALSO IN THE HEADLINES
•Brian’s been busy. Intel’s CEO Brian Krzanich—who is among the four CEOs to leave Trump’s manufacturing council—announced the company’s mid-year diversity statistics yesterday and, in doing so, urged corporate America to turn “this tragedy into action.” The number of women at the company increased 0.3% since 2016, which brings the workforce to 26% female. The company expects to reach its workforce representation goals by 2018—two years ahead of schedule.
• Ivanka goes to Goodwill. While retailers like Nordstrom, Belk, and Neiman Marcus have dumped the Ivanka Trump brand entirely over weak sales following her father’s election, there are some places where the brand is becoming more available: thrift stores. Fashion resale website Thredup, for example, found that in 2016, users listed 223% more Ivanka Trump-branded items compared to the same period a year earlier. That trend has continued into 2017, with users listing 111% more items in the first five months of the year.
• Thanks a billion, Buffett! On Monday, Warren Buffett’s Berkshire Hathaway revealed a new 2% stake in lender and store credit card issuer Synchrony Financial. That pushed shares of the company up 4%—or roughly $1 billion—overnight. Synchrony is run by CEO Margaret Keane (no. 29 on Fortune‘s list of Most Powerful Women), who spun the company out from GE back in 2015 and has been at the helm ever since.
• Ready to read this chapter. Canadian Prime Minister Justin Trudeau wants to make the North American Free Trade Agreement “more progressive.” Among the objectives it has laid out in the U.S.-Canada trade agreement is adding a new chapter on gender rights. The Canadian government has already added a gender chapter in its free-trade deal with Chile, which “provides a framework for Canada and Chile to cooperate on issues related to trade and gender, including women’s entrepreneurship and the development of gender-focused indicators.”
New York Times
MOVERS AND SHAKERS: Wells Fargo vice chair Betsy Duke will replace retiring chair Stephen Sanger next year.
IN CASE YOU MISSED IT
• Anti-anti-aging. Allure‘s editor-in-chief Michelle Lee has pledged to stop using the word “anti-aging” in the magazine. “Whether we know it or not, we’re subtly reinforcing the message that aging is a condition we need to battle,” she wrote in an editorial announcing the decision. “I hope we can all get to a point where we recognize that beauty is not something just for the young.”
• Disney dreams big. Disney has asked 19 female photographers to shoot positive images of strong female role models from all over the world. Anytime one of these images is shared using the hashtag #DreamBigPrincess or liked on social media, Disney will donate $1 to the United Nations Foundation’s Girl Up Campaign, which promotes leadership and empowerment in young women. Its goal is to raise $1 million.
• Today in misogny. Pando’s Sarah Lacy calls this the “horrifying piece of ‘today in misogyny’ news you may have missed”: Aaron Persky, the judge who sentenced former Stanford swimmer Brock Turner to just six months in prison for sexual assault, won a temporary restraining order that halts the campaign to get him recalled. It’s a major blow to Michele Dauber, the Stanford professor who has raised nearly half a million dollars to fund the recall. If you’re a little hazy on the Brock Turner case, the victim’s statement that Buzzfeed published a little over a year ago should jog your memory.