Good morning, Broadsheet readers! Oprah is reportedly considering a 2020 presidential ticket with Mitt Romney, tech unicorn Carta’s lawsuits mount; luck‘s Ellie Austin confirmed her new job with Walmart International chief Cass McRae. Have a wonderful Tuesday!
– Toward globalization. A month after taking on her new role as CEO of Walmart International, Kathryn McRae attended last week’s Most Powerful Women Summit in Laguna Niguel, Calif. We discussed her vision and her vision for a dollar-sized international business. approach to leadership.
Mr McCrae, an Australian from Woolworths and Qantas, takes up his new role after a stellar four years as CEO of Sam’s Club, Walmart’s $73 billion warehouse club division. This promotion moves her to 14th place in this year’s rankings. luck Most Powerful Women List (she was ranked 28th in 2022). During Mr. McCray’s tenure at Sam’s Club, the company’s total revenue increased 43% to $84 billion. The image transformation also occurred through a combination of factors, including store renovations and the brand’s first Super Bowl ad.
Given McRae’s track record to date, Walmart Chief Executive Doug McMillon is counting on her to get the international division back on track for growth, where sales fell about 21% from 2020 to 2022. There is no doubt that. “It’s like drinking water from a fire hose,” McRae told me. She looks back on her first few weeks on the job. She added that her first 90 days will be spent “getting into the rhythm of the organization and looking for opportunities and gaps.”
Before announcing her retirement in August, McRae’s predecessor, Judith McKenna, laid out a strategy for Walmart International to double its sales over the next five years. (She intended to do this by expanding the brand’s marketplace in his 19 countries, while also offering complementary services such as a digital payment platform in addition to its core product of daily necessities.) ) Is McRae going to respect McKenna’s goals for the company?
“I don’t think you need to leave them,” she said. “Where we operate is in a harsh inflationary environment, Walmart’s purpose is to save people money every day. Therefore, now is a time when we can be more involved in consumers’ lives. It is.”
McCray said it was “fantastic” to take over from McKenna and be part of a rare handover from female CEO to female CEO. McKenna said earlier this month. luck Commenting on her departure, senior writer Phil Werba advised aspiring executives to avoid conforming to traditional expectations of leadership. “One of the benefits of getting older is that she has become more comfortable and comfortable being herself,” she said.
McRae feels the same way. “I think we need to open our eyes to what leadership looks like,” she says. “I don’t see myself as a traditional leader…I’m just going to continue to be me.”
Before becoming CEO of Walmart, McMillon ran Walmart International and Sam’s Club. McRae has been following in his footsteps. Would she want to take the top job if her boss eventually resigns?
“Right now, I have the biggest task in front of me,” she told me. “As I said before, give your best every day.”
Ellie Austin
ellie.austin@fortune.com
@Ellie_Austin_
The broadsheet is luck’A newsletter for and about the world’s most powerful women. Today’s issue was edited by Joseph Abrams. Subscribe here.
Also featured in the headline
– You win the president! Oprah Winfrey approached Romney with the idea of running an independent campaign with Winfrey as her running mate in the 2020 presidential election, in a forthcoming biography of former presidential candidate Sen. Mitt Romney (R-Utah). It became clear that Romney declined to pitch because of Winfrey’s concerns that Democrats would be unable to take on Donald Trump. new york times
– Karuta Crash. Former Carta employee Alexandra Rogers’ harassment and retaliation lawsuit against technology company and chief revenue officer Jeff Perry is the latest blow to the once Silicon Valley darling, now mired in litigation and controversy. It becomes. Multiple harassment allegations, accusations that companies fired employees who spoke up, distrust in leadership, and a culture of general disdain all contribute to talent turnover and poor reviews. Mr. Carta and Mr. Perry deny all charges and have filed a defamation suit against Mr. Rogers. luck‘s Jessica Matthews reports: luck
– CEO Party. on tuesday Tupperware has named former Spanx CEO Laurie Ann Goldman as the 77-year-old company’s new CEO. Goldman faces an uphill battle with the cash-strapped company, but he’s also drawing on his experience as CEO of personal care products maker Avon North America and medical products company Omve Aesthetics. CNN
– Level playing field. More women are playing games as the industry moves away from a male-dominated player base, but similar progress has not occurred within video game companies. Women working in the industry blame a culture of misogyny and patterns of sexual harassment among video game developers as barriers to gender equality in the industry. financial times
– Color binding. Menstrual health startups are using red liquid in their tampon ads to reduce stigma around menstruation and stand out in an industry dominated by big companies that use blue liquid. But some cable networks still refuse to platform these ads, and consumers are still uncomfortable seeing them. wall street journal
Mover and shaker: Appointed as Prime Minister of the Ministry of Finance Ann Olinger As Vice President of Products.the name coal fire ashley hart As Chief Marketing Officer.Promote headspace Nicolette Turner to the chief financial officer.
on my radar
Before goop, there was Suzanne Somers. new york times
How the Las Vegas Aces and New York Liberty changed the WNBA new yorker
Clearview AI and the end of privacy with author Kashmir Hill The Verge
parting words
“Speak up. Say it loud. Know your worth. Inspire others, and most of all, just be kind.”
—Britney Spears talks about what she hopes to get out of her new memoir. the woman in mereleased on October 24th.