Good morning, Broadsheet readers! Another women-led firm closes a debut fund, a player achieves a ‘first’ at the Women’s World Cup, and the telecom industry keeps hiring women as CEOs. Have a lovely Tuesday.
– Call to action. Yesterday, the U.K. telecom giant BT Group announced that Allison Kirkby will take over as CEO in early 2024.
Kirkby currently runs the Swedish telecom business Telia. She’ll take the reins at BT, a £20.7 billion ($26.5 billion) firm ranked No. 436 on the Global 500, amid a major cost-cutting drive. The company, whose brands include BT, mobile network EE, internet services provider Plusnet, and broadband network Openreach, has outlined a plan to eliminate as many as 55,000 jobs by 2030.
That strategy isn’t a surprise to Kirkby; she’s served on the BT board since 2019 and she endorses her predecessor Philip Jansen’s plan.
“BT is such an important company for the U.K., and our many customers both in the U.K. and internationally and is uniquely placed to help everyone benefit from the rapid advances in digitalization,” she said in a statement. “Our products and services have never been more important to how our customers live and work.”
When she takes over next year, she’ll be BT’s first female chief executive. The company’s modern-day history dates back to 1984, when Britain privatized its telecom industry.
She’s also set to be the tenth female CEO among the leaders of the FTSE 100, the group of the largest businesses traded on the London Stock Exchange by market cap. Others include Amanda Blanc, leader of the insurer Aviva, and Diageo head Debra Crew.
Kirkby joins a growing group of influential female execs in the telecom industry. Margherita Della Valle became the CEO of Vodafone on a permanent basis in April. Former Microsoft U.S. president Kate Johnson took over the U.S. telecom business Lumen in late 2022, instituting a turnaround plan focused on digitization. Tristia Harrison runs TalkTalk, a U.K. value mobile provider.
While male CEOs still run much of the industry, the sector in need of modernization seems to be turning to women for that task.
Emma Hinchliffe
emma.hinchliffe@fortune.com
@_emmahinchliffe
The Broadsheet is Fortune’s newsletter for and about the world’s most powerful women. Today’s edition was curated by Joseph Abrams. Subscribe here.
ALSO IN THE HEADLINES
- Bluesky's storm clouds. Bluesky CEO Jay Graber is in hot water after an account on the social media platform was able to operate freely for weeks with a racist slur in its handle. Graber, who never issued a public apology for the incident, was scolded in an email from investors, stating "You’re undermining your own work by being silent and confirming people’s worst fears with that silence.” Fortune
- OpenSea change. Kelly DiGregorio, one half of the wildly successful VP duo at Polygon Labs, will join NFT marketplace OpenSea as a vice president and lead its global content partnerships, Fortune is the first to report. DiGregorio will join OpenSea during a turbulent time given the downturn in the NFT market. Fortune
- Supply demand. Female and Latina-owned firm Supply Change Capital has raised $40 million in capital commitments for its first fund. The fund, run by former engineer Noramay Cadena and Shayna Harris, the ex-COO of Farmer's Fridge, is placing its investments in companies that they believe ensure the future food supply. TechCrunch
MOVERS AND SHAKERS: Elizabeth Davies has joined Verkada as chief privacy officer. Apple VP of environmental, policy, and social initiatives Lisa P. Jackson is joining Galvanize Climate Solutions as strategic advisor. Christine HsuEvans has been promoted to president of Headspace. Giovanna Gray Lockhart has been appointed executive director of the Frances Perkins Center.
IN CASE YOU MISSED IT
- First on the field. On Sunday, Morocco’s Nouhailia Benzina became the first soccer player in history to wear a hijab during a World Cup game. Hijabs were banned by FIFA until 2014. Guardian
- A sunny outlook. Mary Powell, CEO of California-based solar and energy storage company Sunrun, wants to lead the transition from aging power grids to solar infrastructure. Solar panels are much more consistent and economically efficient, says Powell; she warns that rising fuel prices and extreme weather are putting existing grids at risk. Wall Street Journal
- Recovery-ready. Forty-six million Americans struggle with substance-use disorder. Some companies are now trying to build "recovery-friendly" workplaces that support employees and help businesses gain access to talent that has gone overlooked. Fortune
ON MY RADAR
A new era of soccer moms navigates a rapidly changing game New York Times
A trombonist on a mission to break barriers in classical musicNew York Times
Rent the Runway CEO started her company as a Harvard graduate student—now it's worth $120 millionCNBC
PARTING WORDS
"As a mother you can really get caught up in the needs of your children and the seemingly endless giving. But when the chips were down my children really showed up for me."
—Madonna on her ongoing recovery after a health scare
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