Good morning, Broadsheet readers! The FDA is recommending that birth control be available over the counter, workplace romance could be a good thing with the right boundaries, and the companies on Fortune’s Modern Board 25 list feature more women board members than the industry standard. Happy Thursday!
– Modern Board 25. Fortune yesterday published its second-annual Modern Board 25 list. The ranking of corporate boards considers several criteria: independence, financial performance, and tenure of board members. Another metric, the diversity of boards, is also front and center.
The average Modern 25 board is 39% female, beating the Russell 3000 average of 27%. Three companies on the list—Intuit, Elevance, and Stanley Black & Decker—have a chairwoman at the helm. Four companies also have female CEOs: Citigroup led by Jane Fraser; health care firm Elevance, led by Gail Boudreaux; Walgreens Boots Alliance, led by Roz Brewer; and American Water Works, led by Susan Hardwick.
In fact, Citigroup scored the highest among the 25 companies for gender diversity, with seven women on its board of 13. However, only one of Citigroup’s directors is a person of color.
Topping the Modern Board 25 is cybersecurity firm F5, where seven of the 11 directors identify as members of underrepresented groups, including gender and race. F5 CEO François Locoh-Donou said his board has helped him build an executive team that’s nearly as diverse, with 50% of company leadership belonging to underrepresented groups.
Former White House advisor and CEO of the Obama Foundation Valerie Jarrett sits on the board of two Modern Board 25 companies: Ralph Lauren and Walgreens. She advocates for assembling a board whose members bring unique personal and professional experiences to the table.
“For a company competing in a global marketplace, making sure that voices around the table are not just an echo chamber, but bring to the table the rich diversity of their life experiences, enables our board to be strategic,” Jarrett said.
You can view the full list here.
Kinsey Crowley (she/her)
kinsey.crowley@fortune.com
@kinseycrowley
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ALSO IN THE HEADLINES
- Over the counter. The FDA unanimously voted to recommend making daily birth control pills available over the counter. As Fortune's Maria Aspan reported earlier this year, Perrigo’s HRA Pharma has been vying to become the first contraceptive pill available without a prescription for nearly 10 years. Axios
- Trump town hall. Former President Donald Trump used a CNN town hall broadcast to insult writer E. Jean Carroll less than 36 hours after a jury found him liable for sexually abusing and defaming her. When Trump called Carroll a "wack job," the audience laughed. He also called moderator Kaitlan Collins a "nasty person" and former House Speaker Nancy Pelosi "crazy." The 19th*
- RIP. Heather Armstrong, a hugely successful blogger who chronicled motherhood, has died at 47. Armstrong's Dooce.com gained a massive following in the early aughts for her frank, funny reflections on being a mom and domestic life. She also wrote openly about her struggles with alcohol and postpartum depression. Her boyfriend says Armstrong died by suicide. Wall Street Journal
MOVERS AND SHAKERS: Stacey Snider is stepping down from her role as CEO at Sister Global. Theory Ventures has appointed Lauren DeMeuse as partner and COO. Jennifer Griffin Smith will be the next chief market officer at Acquia. Melissa Kivett is joining TIAA as executive vice president, corporate retirement solutions and business development.
IN CASE YOU MISSED IT
- More negotiating. Amid the Writers Guild of America strike, another group of Hollywood creators—the Directors Guild of America—have launched negotiations with the Alliance of Motion Picture and Television Producers. DGA president Lesli Linka Glatter says her organization will not back down without a contract that treats workers fairly. Hollywood Reporter
- Feel the love. Office romances can help boost morale and productivity, but they may be on the decline as younger generations find other ways to date, namely apps. Experts advise people to think through the risks of a fallout, avoid a power imbalance, and disclose when engaging in workplace relationships. Bloomberg
- Section 230. Lawyer Annie McAdams is pushing forward with a lawsuit that seeks to hold Meta accountable for human trafficking. (Meta has denied the claims.) McAdams plans to argue that courts have historically misinterpreted the Communications Decency Act's Section 230 as granting companies immunity for user-generated content and that Meta should be held liable for illegal activity it was aware of. The Guardian
ON MY RADAR
How troubling are the payments and gifts to Ginni and Clarence Thomas? The New Yorker
Quinta Brunson is dressed to talk InStyle
I really didn’t want to go: On the Goop cruise Harper's Magazine
Why won’t people just let me not be a mom? Elle
PARTING WORDS
"I draw a lot of hope from history that even in the darkest times, people find ways to resist, and people find ways to create worlds that are at least more livable than the world they're handed."
—Meredith Whittaker, president of the Signal Foundation
Correction, May 11, 2023: A previous version of this article misattributed "I really didn’t want to go: On the Goop cruise" to Harper's Bazaar
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