Good morning, Broadsheet readers! Sallie Krawcheck weighs in on “Queen Bees,” Shari Redstone gains a power position, and the list of female CEOs in the Fortune 500 shrinks. Have a productive Monday.
• Bye-bye, Burns. Ursula Burns, No. 17 on Fortune‘s Most Powerful Women list, will step down as CEO of Xerox when the company splits in two later this year. Burns, who was the first black woman to lead a Fortune 500 company, will become chairman of Xerox’s legacy hardware business under the new structure.
As I wrote back in December, we’re in dark period for female CEOs in the Fortune 500. They currently number 21, down from 24 in 2014, and Burns’ departure will chip away at their ranks even further. Here’s hoping that the coming months bring some new female faces to the top job at America’s largest companies; I’m tired of removing names from the list.
ALSO IN THE HEADLINES
• Women for women. Sallie Krawcheck writes about her run-in with a workplace “Queen Bee” and speculates about why it can be so hard for women to help other women in the business world. Her piece—which makes some smart suggestions about how we can overcome this nagging problem—is a perfect lead-in for tonight’s Fortune “Most Powerful Women Evening With…” dinner in New York. The event, which marks the close of the annual Fortune/U.S. State Department Global Women’s Mentoring Partnership, pairs women from emerging markets with senior female executives, who use their career clout to help the next generation. Fortune
• Family first? As first reported by Fortune‘s Peter Elkind, Sumner Redstone has ousted Viacom CEO Philippe Dauman and director George Abrams as trustees of the entity that will assume voting control of Viacom and CBS upon Redstone’s death or incapacity. The move should put his daughter, Shari Redstone, in a power position in the coming struggle over her father’s $40 billion media empire. Viacom board members also claim that they’ve unable to meet with Redstone because Shari is blocking access to the media mogul (something Redstone’s camp denies).
• Professor feel bad. Katie J.M. Baker digs into the chilling story behind a federal civil rights complaint alleging that prominent Yale philosophy professor Thomas Pogge has repeatedly used his “fame and influence to manipulate much younger women in his field into sexual relationships.” Buzzfeed
• Fallin says no go. Oklahoma Gov. Mary Fallin vetoed legislation that would make it a felony for doctors to perform an abortion in the state, saying the bill was vague and wouldn’t withstand a legal challenge. WSJ
• Wall Street goes boom. The New York Times asks how much has changed on Wall Street 20 years after the famous “boom-boom room” suit—the sexual harassment and pay discrimination class-action lawsuit 23 women filed against Smith Barney, which cost the bank $150 million. The answer? Not enough. New York Times
• Rudolph on Rouseff. Maya Rudolph played a hilarious version of recently-impeached Brazilian President Dilma Rousseff on SNL this weekend, informing “Weekend Update” host Colin Jost that the Rio Olympics will be BYOB—”Bring Your Own Buildings.” Entertainment Weekly
MOVERS AND SHAKERS: Berkshire Hathaway Inc. has appointed Kara Raiguel, a longtime reinsurance exec at the company, to CEO of its General Re unit. A Broadsheet exclusive: Kathie Andrade has been promoted to CEO of Retail Financial Services at TIAA.
MPW INSIDER MONDAYS
Each week, Fortune asks our Insider Network — an online community of prominent people in business and beyond — for career and leadership advice. Here’s some of the best of what we heard last week.
• Don’t do lunch. Raquel Oden, a managing director at Merrill Lynch, explains why you should never “just have lunch” with your mentor. Fortune
• Find “the one.” There’s a lesson in Mark Zuckerberg’s messy split with co-founder Eduardo Saverin, says Caren Maio, founder and CEO of Nestio. Finding the right business partner is crucial, so don’t settle for less than a soul mate. Fortune
• Make it work. True work-life balance may be impossible, but Deloitte vice chairman Sandy Shirai has four tips for making the juggling act easier. Fortune
IN CASE YOU MISSED IT
• Kiss off. Uma Thurman, who was serving as auction host for Cannes Film Festival, received an unwelcome kiss from Lapo Elkann after the former Fiat CEO won a $196,000 auction prize. Thurman said the run-in left her feeling “violated and “very unhappy.” Not okay, Elkann. Fortune
• First Man fallacy. Jill Filipovic takes issue with Hillary Clinton’s statements that, should she become president, she’ll still be the one picking the china and flowers for state dinners. “A first man managing the White House household would be just as groundbreaking as a female president.” Washington Post
• Out of my ovaries. This Entrepreneur piece, in which Te-Erika Patterson gives advice to women looking to start their own businesses, really got my hackles up. While some of her recommendations make sense, I take issue with her call for female entrepreneurs to “get on long-term birth control.” Come on: If you can handle entrepreneurship, you can certainly handle making your own choices about your fertility. Entrepreneur
• Tribeca talk. Jane Rosenthal, a founder of the Tribeca Film Festival and executive chairwoman Tribeca Enterprises, explains her belief that women are better producers, how she was influenced by Mary Poppins, and why it’s so important to trust your instincts. New York Times
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