Emma Walmsley GSK, Most Powerful Women International, Bill Cosby: Broadsheet September 26
Good morning, Broadsheet readers! Senate Republicans have hired help to question Christine Blasey Ford, Bill Cosby is sentenced after a moving statement from Andrea Constand, and the international edition of the Most Powerful Women list is here with Emma Walmsley of British pharma firm GSK at the top. Make the most of your Wednesday!
• Global power. Fortune‘s MPW week keeps on rolling this morning with the international edition of the Most Powerful Women list, featuring female executives based outside the U.S. Topping the ranking this year is a new No. 1: Emma Walmsley, CEO of GlaxoSmithKline. She’s followed by Ana Botín of the Spanish bank Banco Santander, Isabelle Kocher of France’s Engie, and Dong Mingzhu of China’s Gree Electric Appliances.
Fortune‘s Erika Fry and I have profiled Walmsley in a new feature, also out this morning, that digs into what she’s doing to revive GSK, a 300-year-old drugmaker. When Walmsley took the top job a year and a half ago, she replaced Sir Andrew Witty, who’d built an almost saintly reputation as a CEO who bucked Big Pharma’s worst trends. He sold lots of drugs at lower prices and paid his sales staff based on their technical knowledge rather than the amount of drugs they sold. But investors had lost patience with that slow-going, do-gooding volume play.
Enter Walmsley, who as a new CEO had to perform the delicate dance of acknowledging Witty’s much-extolled legacy within the company while addressing GSK’s business shortfalls. The only woman to run one of the large innovative drugmakers, she’s approached the task from the point of view of a pharma outsider, having spent 17 years at L’Oréal before joining GSK in 2010 to run its consumer health care business.
In her first months as CEO, Walmsley has made swift and radical changes, replacing 40% of her top managers, pulling the plug on 30 drug development programs, selling off a rare-disease unit, assembling a roster of all-star talent for her executive team, and embarking on a cultural overhaul.
She’s the fresh face of discipline and rigor at GSK, but will it be enough to improve the firm’s fortunes?
You can read the full story here.
ALSO IN THE HEADLINES
• Hired gun. Republicans on the Senate Judiciary Committee—all 11 of whom are men—have named the female attorney they’ve hired to help them question Christine Blasey Ford, Supreme Court nominee Brett Kavanaugh’s first accuser, at a Thursday hearing. Rachel Mitchell is an Arizona prosecutor who specializes in sex crimes. For 12 years, she ran the sex-crimes bureau in Arizona’s Maricopa County, and now she’s in charge of that unit and one for family violence as chief of the county’s special victims division. Washington Post
• Making a statement. Bill Cosby was sentenced to three to 10 years in prison and ruled a sexually violent predator in court Tuesday for his 2004 drugging and assault of Andrea Constand. Constand submitted a victim impact statement ahead of Cosby’s sentencing describing the assault’s impact on her life. “Bill Cosby took my beautiful, healthy young spirit and crushed it. He robbed me of my health and vitality, my open nature, and my trust in myself and others,” she wrote. It’s worth reading Constand’s entire statement, printed in full here. New York Times
• EY at EEOC. Ernst & Young faces an EEOC complaint from a former partner over sexual harassment, discrimination, and retaliation—its second this year. Former partner Karen Ward told the New York EEOC that she was paid “hundreds of thousands of dollars” less than her male counterparts, excluded from business discussions, and faced harassment at work. Ward says EY fired her after she complained and was told she was “being perceived as a bitch.” EY says she was let go after the firm shut down the real estate investment banking advisory practice she led. Financial Times
MOVERS AND SHAKERS: Erin Elofson, a sales team vet of Facebook and Microsoft, will lead Pinterest’s first office in Canada. ESPN’s Hannah Storm and NFL Network’s Andrea Kremer will be the first female duo to call NFL games, announcing for Amazon Prime Video’s live stream of 11 Thursday Night Football games this season. Elizabeth Stone is the first VP of science at Lyft, overseeing research and data science.
IN CASE YOU MISSED IT
• Baby on board. The UN General Assembly is underway in New York, and Neve Te Aroha Ardern Gayford is there. She’s the 3-month-old daughter of New Zealand Prime Minister Jacinda Ardern, who made history as the first world leader to bring her baby to the general assembly meeting. Ardern fielded criticism earlier this month when she took an extra flight because she couldn’t bring her young daughter to an intergovernmental meeting in Nauru, but this time Neve made the trip. The photos of the baby at UN meetings—and of Ardern excitedly greeting her daughter on the UN floor—are priceless. The Guardian
• Running the show. Time’s Up quietly added a separate division focused on the entertainment industry. Time’s Up Entertainment is led by Nithya Raman, whose previous experience includes urban planning in India and tackling homelessness in Los Angeles. The division’s first public initiative aims to improve the diversity of the journalists, photographers, and critics who cover Hollywood, and Raman says more is coming. Variety
• Before Wall Street. Damilare Sonoiki was part of a $1.2 million insider trading scheme in partnership with NFL player Mychal Kendricks, prosecutors alleged last week. Before the ex-Goldman Sachs analyst was caught up in a lawsuit from the SEC, he was accused of rape and sexual misconduct at Harvard. No criminal charges were filed, but Sonoiki did not receive his Harvard degree as a result of the school’s investigation. Wall Street Journal
• Who pays the price? Padma Lakshmi opens up about being raped—and not reporting that crime—at age 16 by her 23-year-old boyfriend in a New York Times op-ed. The author and TV host relates her experience to those of Christine Blasey Ford and Deborah Ramirez, the women who have accused Supreme Court nominee Brett Kavanaugh of sexual assault in high school and college. “Some say a man shouldn’t pay a price for an act he committed as a teenager,” Lakshmi writes. “But the woman pays the price for the rest of her life, and so do the people who love her.” New York Times
ON MY RADAR
Why the Kavanaugh accusations matter so much to teen girls like me Vox
Julie Chen-Moonves and the meaning of a wife’s loyalty The New Yorker
Gray hair is still taboo for women. This popular Instagram account celebrates it Vox