Good morning! Gisèle Pelicot’s daughter filed a rape case against Dominique Pelicot and releases her book, big law firms are the next target of Trump’s anti-DEI agenda, and P&L responsibility is critical—but it can come too late.
– Never too late? Seventy-one percent of women leaders have held P&L (or profit and loss) responsibility at some point in their careers, according to a new survey by the leadership advisory firm Spencer Stuart. The issue is, many women are getting that responsibility too late for it to have a meaningful impact on their career trajectory.
P&L responsibility is a key qualifier for most senior leadership roles including CEO, demonstrating the ability to drive revenue, manage budget and headcount, and own a business unit. Non-P&L roles—in operations or human resources, for example—are a less traditional trajectory to the very top. Spencer Stuart defines P&L roles as coming with broad exposure to the business, more visibility, and more risk.
In a survey of 2,300 senior women executives, those who moved into P&L roles within the first five years of their career (a quarter of those overall who had P&L experience) were more likely to say they proactively planned or managed their careers. They reported higher satisfaction with their work climate and were more likely to say that conditions for women at work continue to progress.
Cassandra Frangos, a board and CEO adviser at Spencer Stuart, advises women to seek out P&L responsibility within the first seven to 10 years of their careers—far earlier than many do. “When women don’t select these roles, or aren’t offered them early on, they risk being categorized as a narrow expert who may not be agile enough to take on a different discipline later in their career,” she says. “As opposed to someone who has shown range across multiple parts of a business, like sales or finance, and has a track record of delivering solid financial results.”
Emma Hinchliffe
emma.hinchliffe@fortune.com
The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world. Today’s edition was curated by Nina Ajemian. Subscribe here.
ALSO IN THE HEADLINES
- Sharing her story. Following her mother Gisèle Pelicot’s monumental rape case, Caroline Darian filed a case against her father, alleging sexual assault and rape; Dominique Pelicot has denied sexually touching any of his children. Yesterday, Darian released her book I’ll Never Call Him Dad Again, which details her suffering after his arrest. New York Times
- Legal action. In the latest of anti-DEI efforts from the Trump administration, the U.S. Equal Employment Opportunity Commission sent letters to 20 big law firms, warning them that their DEI policies may be considered illegal. The agency’s acting chair Andrea Lucas asked the firms for more information about their employees—including participation in “affinity groups”—and hiring practices. Reuters
- Perkins under pressure. Hilary Perkins resigned from her position as FDA chief counsel just two days after the news of her appointment was shared, following criticism from Sen. Josh Hawley (R-M.I.) who claimed Perkins was pro-abortion. Perkins said, “I am a Christian who is both conservative and pro-life and who simply followed my oath as a Department of Justice career attorney.” Bloomberg
- Howdy, HQ. Nasdaq, with CEO Adena Friedman, is opening a regional headquarters in Dallas, its second U.S. HQ after its spot in Times Square. Nasdaq’s expansion is part of a growing trend of financial institutions and companies moving into Texas. Dallas Morning News
MOVERS AND SHAKERS
Sharon Barner will be retiring as chief administrative officer at Cummins, a power solutions manufacturer, after 13 years at the company.
Exubrion Therapeutics, which develops treatments for dogs with chronic osteoarthritis, appointed Jennifer Kirk as CEO and to its board of directors. Most recently, she was SVP and a finance executive at Medtronic.
Gannett named Trisha Gosser CFO. Most recently, she was the media company’s deputy chief financial officer.
Car maker Genesis Motor America named Amy Marentic chief marketing officer. She was most recently president, global solutions at Circana.
iOncologi, an oncology treatment developer, appointed Dr. Mona Flores to its board of directors. She was previously global head of medical AI at NVIDIA.
ON MY RADAR
Tory Burch’s comeback? She never left. Inside her $2 billion brand’s evolution Inc.
Does cooking my husband breakfast make me a tradwife? The Cut
Sarah Snook’s Wilde adventure New Yorker
PARTING WORDS
“Failure only happens when we don’t try, so for me, failure doesn’t exist, because I’m always trying.”
— Brazilian gymnast Rebeca Andrade on her work ethic, imparted by her mother
