Good morning, Broadsheet readers! Ellen Kullman breaks her silence on her battle with activist investor Nelson Peltz, China releases five female protestors, and Gwyneth Paltrow once again has the Internet in a tizzy. Don’t forget: It’s Equal Pay Day–make sure you’re getting what you’re worth. Have a great Tuesday.
• Shouldn’t every day be equal pay day? Today is Equal Pay Day, the one day a year we set aside to remind everyone that women are still making just 78 cents for every dollar that men make. If you’re a woman, I doubt you’ll find that terribly shocking. That said, there are things about the wage gap that may surprise you. Fortune digs into the reason why Equal Pay Day always falls on Tuesday, what makes millennial women think the gap is a myth, and more. Fortune
ALSO IN THE HEADLINES
• The sportiest soda? PepsiCo, led by CEO Indra Nooyi, is replacing Coca-Cola as the NBA’s exclusive food and beverage partner in North America. With this latest agreement, Pepsi now has official partner status with all four major U.S. sports leagues. Fortune
• Dueling over DuPont. DuPont CEO Ellen Kullman speaks publicly for the first time about her battle with activist investor Nelson Peltz, whose firm wants four board seats and believes DuPont should slash corporate spending to improve earnings growth. Kullman says Peltz wants to establish a “shadow management” team dedicated to pushing a destructive short-term agenda.“Can you cut costs and create a bump short-term? Yes, but where are you going to be in two years, in five years?” asks Kullman. WSJ
• Give labor some love. While she’s already taken some shots at CEO paychecks, going the populist route could be tricky for Hillary Clinton. After all, she has plenty of big business friends and has been getting $200k per speech, writes Fortune‘s Nina Easton. To avoid calling out her wealthy backers, look for Clinton to avoid demonizing industry. Instead, she’ll likely propose ways to give labor more muscle. Fortune
• The five go free. Chinese police have released five female activists who were detained early last month after trying to start a campaign against sexual harassment on public transportation. The women were let go after prosecutors decided not to press criminal charges immediately. The arrest of the female protesters drew international condemnation and provoked fury within China, though it’s unclear whether the public response had any impact on the decision to release them. NY Times
• A star is born? For the first time, a female director will kick off the Cannes Film Festival. Emmanuelle Bercot’s French drama, La Tete Haute, is about the upbringing of a juvenile delinquent and stars the legendary Catherine Deneuve. AP
MOVERS AND SHAKERS: Jane Fraser, Citigroup’s CEO of U.S. Consumer and Commercial Banking and CitiMortgage, will become the company’s CEO of Latin America. Former Petsmart VP Anne Dament is joining Target as an SVP of merchandising to revamp its food business. Stanford Law School has appointed Daphne Keller as Director of Intermediary Liability at The Center for Internet and Society.
Broadsheet readers vs. the wage gap
Last week, I asked you to share your personal experiences with the wage gap. Thank you for your responses. Some were infuriating, others were uplifting, but all were fascinating. In celebration of Equal Pay Day, I’ve compiled a few of your stories. Keep them coming!
Here’s what you told me:
“At 19, I had a political internship in the heat of the 2009 campaign. I was making $10.50 an hour but knew that I could make $12 an hour elsewhere. (That’s big money in intern land!) I approached my internship coordinator, laid out my position, and said I’d accept another offer if I didn’t get the raise. I got it. Now I’m a Wharton MBA student who never looked back, and will always ask to be paid my value.” –Ashley Wells
“Many years ago, I was working at a big telecom firm. Eventually my responsibilities allowed me to view everyone’s salary and bonus information. It came as a shock to see that male managers were making at least 30% more than I made. When I raised the topic with my supervisor, he told me that the men on the team were supporting families and therefore needed more money. He truly believed that was a legitimate response.” –Helena K. Ring
“As a career coach, I recently worked with a woman who had been offered a great job but was unhappy with the comp package. But when it came time to negotiate, she didn’t want to ask for more, saying she was afraid of coming off as ‘mercenary.’ We did a lot of scripting and practicing, and finally she called the hiring manager and asked for what she wanted in a matter-of-fact, unapologetic way. The response was simple: ‘Sounds reasonable.’ I tell my female clients, the next time someone asks you what your magic number is, speak up and own it. No apologies.” –Belinda Yan
“One of my first jobs was with a small agency. When I was hired, the two men who owned the company refused to negotiate my salary, saying it was a ‘take it or leave it’ offer. I accepted the job anyway. Two months later, I stumbled onto the offer letter of a new male employee on the photocopier. He was being paid several thousand dollars more than I was, despite having less experience.” –name withheld
“Knowing men are typically paid about 30% more than women, I added 30% to the salary I was targeting when applying for a new role at a tech company. The number seemed huge, and I was sure the company would say no, but I wrote it down anyway. I also asked for a big signing bonus. I felt sick to my stomach but also giddy with pride. I didn’t get everything I asked for, but I negotiated hard and ended up with a good deal. It put me into a different league and gave me the confidence to ask for what I deserve.” –Heather Kernahan
IN CASE YOU MISSED IT
• A sad anniversary. It’s been one year since Boko Haram militants kidnapped hundreds of schoolgirls from their dorms in Chibok, Nigeria. And while that horrific act captured the world’s attention, it’s just the beginning of the damage inflicted by the militant group. Boko Haram has abducted at least 2,000 women and girls since the start of 2014, according to a new Amnesty International. WSJ
• Oh, Gwyneth. Gwyneth Paltrow took the SNAP (a.k.a. food stamp) challenge to bring attention to the difficulties faced by families who live on food stamps. Participants try to live on $29 worth of food a week. While the famous actress’s heart was almost certainly in the right place, the Internet worked itself into a lather over her photo-shoot perfect Instagram of her groceries. Across social media, critics scoffed at the idea that anyone could sustain herself on such perfectly curated vegetables for a week. Washington Post
• Making a connection. Can Kelley Paul, wife of senator and presidential candidate Rand Paul, make her husband seem more approachable? Maybe. Kelley, who is the author of a new book of essays on the bonds between women, has done an impressive job of using personal stories to connect with potential voters. NY Times
• Can Wynn win? The fight over Elaine Wynn’s board seat at Wynn Resorts continues. In the latest salvo, Wynn lashed out at Institutional Shareholder Services, a proxy-advisory firm that criticized the company’s governance. The firm also recommended withholding support from Wynn, as well as the nominees put forward by the company. While it’s been absorbing to watch this battle unfold, the end is in sight. The board election results will be announced at the company’s April 24 shareholder meeting. WSJ
• Working it out in court. Fitness star and trainer Jillian Michaels has filed a $10 million lawsuit against Lionsgate over YouTube workout videos posted to its channel. Michaels says she was never compensated for the videos and never approved the use of her brand or image. Time
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ON MY RADAR
Finally, some good news about women in tech Crain's Chicago
Life before Equal Pay Day: Portrait of a working mother in the 1950’s Time
Hillary Clinton is back, but will there be a return of the Rodham? NPR
5 ways to be more powerful at work Inc
I am not who I sleep with. I am not my weight. I am not my mother. I am myself.Comedian Amy Schumer, who hosted the 2015 MTV Movie Awards.