Good morning, Broadsheet readers! Mylan CEO Heather Bresch is poised to lose her hostile takeover, three women show how immigrants fuel innovation, and Sheryl Sandberg gets her very own submarine. Have a wonderful weekend.
• Pharma fail? Drug company Mylan, led by CEO Heather Bresch, is expected to lose its $26 billion hostile bid for Perrigo, a maker of cold and allergy medicines. A minority of Perrigo shareholders tendered their stock into Mylan’s takeover proposal, short of the 50% Bresch’s company needs. WSJ
ALSO IN THE HEADLINES
• A new immigrant story. Fortune‘s Valentina Zarya has the exclusive story of three inspiring immigrant women who have been selected as part of EY’s Entrepreneurial Winning Women program. Fortune
• In sickness and in health. Eventbrite co-founder and CEO Kevin Hartz is taking a temporary leave as he battles a “non-life threatening medical condition.” In his absence, the ticketing service’s leaders will include his wife, Eventbrite co-founder and president Julia Hartz. Fortune
• It’s official. Five years to the day after Aung San Suu Kyi was freed from house arrest, her National League for Democracy party officially clinched victory in Myanmar’s historic elections. WSJ
• U.S.S. Sandberg? The U.S. Navy has made an unconventional choice to sponsor its newest submarine: Facebook COO Sheryl Sandberg. Sponsors, who christen the ship, are always women but historically have been wives of senior officers or politicians with close ties to the Navy. The Navy choose Sandberg in hopes of making a connection with the American public. NBC
• Banking on women. Women accounted for one-quarter of the 425 people Goldman Sachs promoted to managing director, the bank’s second-highest rank, this year. That’s up from 20% in the previous round. Bloomberg
• Sigh. Hillary Clinton’s hair is back in the news, thanks to a ridiculous series of posts on Drudge Report. This Slate story has the whole depressing history of how Clinton’s coiffure has been attacked over the years. Slate
MOVERS AND SHAKERS: Sharon Wienbar has stepped down as a general partner at VC firm Scale Venture Partners to become CEO of women-focused computer science bootcamp Hackbright Academy.
The Hollywood Reporter‘s rank decision sends the wrong message.
On Wednesday, The Hollywood Reporter published a letter from president and chief creative officer Janice Min announcing that after 23 years, the publication will no longer run its annual ‘Women in Entertainment Power 100‘ list as a ranking. What’s more, Min says that Billboard, THR‘s sister publication, will do the same with its annual list of the 50 most powerful female executives in the music industry.
In her letter, Min explained that the rankings had come to feel like “a beauty pageant of brains where only one woman gets crowned.” She also calls out the male domination of the entertainment business and encourages women in power “to take a leadership role in addressing the gender issues that we both unconsciously and willfully ignore.”
There’s much to cheer in her statement, so it created an odd cognitive dissonance to read it, applaud many of her points, but find myself on the opposite side of her conclusion that rankings are a force for oppression and must go.
To be clear, I’m not exactly an impartial observer. I am part of the team that works on Fortune’s annual Most Powerful Women in Business; a list that is, yes, ranked. More on that in a moment.
First, let me explain my concern about skirting away from rankings where women are concerned. There are dozens of co-ed rankings out there, which don’t seem to be raising red flags. Min doesn’t say anything about eliminating the hierarchy of Billboard’s Power 100 (which included 15 women last year)—indeed, she uses her note to announce the creation of a new THR ranked list of entertainment’s most powerful people. So, if these lists are acceptable, what message do we send by flattening the women’s lists?
To read the rest of my story, click here.
IN CASE YOU MISSED IT
• Airbnb your closet. Rent The Runway, the high-end clothing rental service co-founded by Jennifer Hyman and Jenny Fleiss, announced that it will begin offering rentals for everyday clothing in early 2016. Fast Company
• Seeing stars. 39% of astronomers in Argentina are women, a much larger percentage than in most countries. Looking beyond the numbers, however, it’s clear that the nation still struggles with sexism, as the majority of Argentinian female astronomers leave the field before rising to top levels. Wired
• She fought the good fight. Jacqueline Berrien, a civil rights lawyer who chaired the Equal Employment Opportunity Commission from 2010 to 2014, has died at the age of 53. New York Times
• From jewels to jackets. Jewelry designer Jennifer Meyer is celebrating the 10th anniversary of her line by launching a ready-to-wear clothing collection at Barneys New York. WSJ
• Registering for cash. Zola Inc., an online wedding-gift registry founded by Shan-Lyn Ma and two other former Gilt Groupe employees, raised $10 million in new venture capital funding. WSJ
Tune in to Fortune Live today and every Friday at 3 pm ET at Fortune.com. Fortune Live is hosted by Leigh Gallagher and will feature interviews with Udacity CEO Sebastian Thrun and Brit + Co CEO Brit Morin.
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ON MY RADAR
How period trackers have changed girl culture New York Times
Missy Elliott drops her first music video in 7 years Fortune
An unseen Charlotte Bronte story and poem discovered The Guardian
Birth control lawsuit seeks damages for unplanned pregnancies NPR
I don’t know what it’s like to be a woman in a band — I have nothing else to compare it to. But I will say that I doubt in the history of rock journalism and writing any man has been asked, ‘Why are you in an all-male band?'Musician Carrie Brownstein