Good morning, Broadsheet readers! Glamsquad is getting a makeover, Ivanka Trump is doing her version of an AMA, and closeted Hillary supporters are speaking out. Have a great Thursday.
EVERYONE'S TALKING
• The circle of trust. New research looking at 8,179 CEO appointments at publicly-traded companies reveals some peculiar trends. The authors—researchers from Northwestern University's Kellogg School of Management—found that companies that named a female CEO (and got a lot of media attention for their choice) saw their stock prices go down. Yet when the appointments got little press, the phenomenon was reversed. For male CEOs, the stock ticked up when the new chief got media coverage and stayed stable when he did not.
The researchers speculate that the press buzz may trigger investors to think about how their peers will respond to hiring news. When the CEO is a woman, they assume others will react poorly.
While you might be tempted to view this as yet another depressing study (I did at first), there's another way to see it. If the authors are correct, the real lesson isn't that investors don't trust female CEOs. In fact, they appear to support them—remember, the stock went up when a woman chief was quietly appointed. The problem, it seems, is that they find it difficult to believe that other people are similarly enlightened. Here's my takeaway: Have a little more faith in one another. Chicago Tribune
ALSO IN THE HEADLINES
• Glamsquad makeover. Alexandra Wilkis Wilson has stepped down as CEO of on-demand beauty startup Glamsquad. The Gilt Groupe co-founder is being replaced by Amy Shecter, who most recently led yoga studio chain CorePower Yoga. Fortune
• White House wordsmith. Meet Sarah Hurwitz, who has written or edited "nearly every word the First Lady has spoken in public" since President Obama's election. Interestingly, she was previously Hillary Clinton's speechwriter and was hired by the Obamas after Clinton conceded in 2008. Washington Post
• Who runs the brands? Not girls, in many cases. A few major purveyors of women's products (think makeup maker Sally Hansen and lingerie retailer Victoria's Secret) have few or no women in leadership, according to LedBetter's new online gender equality index, a searchable database that allows users to see how many women are in leadership at 230 companies. Fortune
• #I'mWithHer—in public. Since Hillary Clinton clinched the Democratic nomination last week, many of her supporters have felt emboldened to share their love for the former First Lady on Facebook. What was stopping them before? In the words of one voter, “We were tired of having to deal with Bernie splainers and Hillary haters.” New York Times
• I have a few questions about her dad. Ivanka Trump's quest to become a guru for working women continues: She launched a new YouTube Q+A series called #AskIT, where she encourages people to ask questions "relating to business, to parenting, to life, and everything in between.” Fortune
MOVERS AND SHAKERS: Judith Rodin, the first female president of the Rockefeller Foundation, is stepping down.
IN CASE YOU MISSED IT
• Draft on history? The Senate has approved an expansive military policy bill that would require young women to register for the draft. The bill—which Hillary Clinton supports—will now go to a conference committee since the House version does not contain the draft provision. According to the New York Times, "a contentious debate is expected." New York Times
• Mother of unicorns. Cowboy Ventures founder Aileen Lee talks about whether we've hit "peak unicorn," Silicon Valley's diversity problem, and the difference between a downturn and a "valuation-adjustment period." Vanity Fair
• An Apple for Eve. One major takeaway from WWD16, Apple's annual developers' conference, was that the company is becoming more focused on designing for women. Some obvious examples include a new safety alert system for the Apple Watch and the inclusion of a period tracker in its Health Kit. Buzzfeed
• Power to the pants. Time's Katy Steinmetz delves into the history of the most quotidian article of women's clothing: pants. Fascinatingly, the rise and fall of the two-legged garment go hand in hand with women's status in society (the more powerful, the more pants). Time
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ON MY RADAR
Watch two Target employees defend a woman for breastfeeding in public Fortune
She's the hidden architect of modern comedy New York Times
What it's really like to be a female magician Refinery29
Maddie Ziegler's mom opens up about being a parent to a rising star Cosmopolitan
QUOTE
Significant progress has already been made, but it is time that we collectively intensify our efforts and ensure that true {gender} equality is finally realized.
Actress Anne Hathaway, who yesterday was appointed the United Nations' global goodwill ambassador
