Good morning, Broadsheet readers! Valentina (@valzarya) here. Sallie Krawcheck has beef with “women’s empowerment,” Meg Whitman shares her thoughts on the president-elect, and Martha MacCallum gives us the scoop on her new Fox News show. Have a productive Tuesday.
• Let’s power ourselves. In her latest column for Fortune, Ellevest co-founder and CEO Sallie Krawcheck—whose new book, Own It: The Power of Women at Work, comes out today—writes about why she’s over so-called women’s empowerment. “The term has always bothered me,” she writes.
“I thought it was because it was so widely used, or that I’ve been involved in too many toothless women’s ’empowerment initiatives,'” writes Krawcheck. “But then I looked up the meaning: Empower (verb): to give power or authority to. That’s it. That’s the issue: to give power or authority. To give. So, to empower women, power must be given to them. Presumably by an entity that already has it. And that entity is the patriarchy.”
Instead of hanging our hopes on empowerment, she suggests, the conversation must be about “power—using and growing the power we women already have.” Fortune
ALSO IN THE HEADLINES
• May’s big day. All eyes were on U.K. Prime Minister Theresa May today, as she declared that the nation wants a clean break from the E.U. in a closely-watched speech. Britain doesn’t want to be “half-in, half-out,” she said, also mentioning that she wants control over immigration from Europe and the removal of the U.K from the jurisdiction of the European Court of Justice. On a slightly less geopolitically critical note, May will be the first-ever prime minister to appear on the cover of Vogue. Wall Street Journal
• Dispatch from Davos. Meg Whitman wants to give Donald Trump the chance to prove himself. “My call to all Americans and my employees in particular was, we now have to give him the benefit of the doubt,” the Hewlett Packard Enterprise CEO told Fortune‘s Claire Zillman. The long-time Republican made headlines last year when she broke with her party to support Hillary Clinton in the presidential election. Fortune
• A sad stat. On Jan. 3, Ursula Burns stepped down as the CEO of Xerox Corporation. Her departure means that there are now no black women heading Fortune 500 companies (she was the first and only one). Here’s what else you need to know about African-American women in corporate America. Fortune
• Undoing diversity. Donald Trump’s pledge to cancel President Obama’s executive orders would have implications for compensation, paid leave, diversity in hiring, and protection for gay and transgender employees. Of Obama’s more than 240 executive orders, about 27 are related to workplace or societal actions benefiting minorities, younger workers, and under-served communities. Bloomberg
• Governance gals. The corporate governance heads at seven of the 10 largest institutional investors (i.e. mutual and pension funds) are women. These women vote on the directors of a company board, making decisions on behalf of teachers, government workers, doctors, and most people who have a 401(k). Oh—and they oversee $14 trillion in assets. New York Times
• We put the ‘fun’ in fund. While women dominate when it comes to corporate governance, they’re not running the show. Indeed, just 9.4% of American mutual fund managers are women. That’s lower than in the rest of the world, where about 20% of fund managers are female. The New York Times suggests that the U.S. can get more women in the roles through promoting “greater awareness of asset management jobs and what they entail; better recruitment, clearer entry points; and a culture that supports and rewards the talents women bring to the table.” New York Times
• Meet Martha. Last week, Fox News announced its new primetime lineup for the first quarter of 2017, revealing that Martha MacCallum is taking Greta Van Susteren’s 7 p.m. time slot with a brand new show called The First 100 Days. I caught up with MacCallum to talk about her new show, her thoughts on the Fox News game of musical chairs, and what she’ll be watching over these next few months. Fortune
IN CASE YOU MISSED IT
• Hewson heeds Trump. After meeting with Donald Trump on Friday, Lockheed Martin CEO Marillyn Hewson (No. 3 on Fortune‘s list of Most Powerful Women) said the company is close to a deal to significantly lower the cost of its F-35 aircraft. Last month, Trump bashed Lockheed for the cost of its jet program, challenging rival Boeing to produce a cheaper model. Washington Post
• Where U.S. lags E.U. Why has the U.S. been so much slower than Europe to put a woman in charge? The system itself might be part of the problem, according to academics. One example: American politicians must raise money to run—which women hate doing more than men do—while European political bids are subsidized by government funds. New York Times
• Stacy on stage. On our latest episode of the Fortune Unfiltered podcast, Stacy Brown-Philpot talks about her path from growing up in Detroit to being named CEO of TaskRabbit. Listen to the full episode to learn more about her business philosophy, what it’s like to work with Sheryl Sandberg, and why she never settles for “no.” Fortune
• Strike three for Tilton? New York financier Lynn Tilton is being sued by Zohar investment funds—collateralized loan obligations funds that she herself created—for a “toxic mix of fraud, theft and mismanagement.” Tilton is already battling fraud charges from the SEC and a lawsuit from German bank Nord. Wall Street Journal
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ON MY RADAR
Trump’s cabinet so far is more white and male than any first cabinet since Reagan’s New York Times
Women finally represent more than a fifth of the delegates at Davos Quartz
Monica Crowley forgoes Donald Trump administration role amid plagiarism allegations Time
Samantha Vinograd: What you can and must do about Syria USA Today