FORTUNE
500
D8ID7:G&*!'%%,
2007
Most
Powerful
Women
BY KATIE BENNER,
EUGENIA LEVENSON, AND
RUPALI ARORA
Business has its ups and downs, and so, naturally, do women
in business.(Bye-bye, Martha!) But the story of this list is one
of achievement: The credentials of these women, including
the 13 newcomers, are the strongest yet.
the new spokeswoman. The
company is also cutting jobs
and doing away with lessprofitable products.
MOST POWERFUL WOMEN
4
1 INDRA NOOYI, 51
CHAIRMAN AND CEO
PEPSICO
2006 RANK: 1
All the arrows are
pointing in the
right direction,
with revenues
($35.1 billion),
operating profits ($6.4 billion),
and earnings per share ($3)
all rising strongly last year.
The 2001 Quaker Foods
acquisition, in which Nooyi
played a key role, is working out
well, and Pepsi International, a
priority for the company and a
particular interest for the Indianborn Nooyi, is coming on strong
too; its revenues rose 14%, to
$13 billion, and operating
profits rose 21%, to $1.9 billion.
Oh, and in May, Nooyi added
the title of chairman to her own
portfolio.
CHAIRMAN AND CEO
XEROX
In May, Xerox’s
credit was
upgraded to
investment-grade
status from junk,
and analysts love the new focus
on growth and expansion—
a sign that Xerox is back to
health. Recent acquisitions
like Global Imaging Systems
should add close to $1 billion
in sales to the $16 billion
company. The stock is up 10%
in the past year.
3 MEG WHITMAN, 51
PRESIDENT AND CEO
EBAY
NEW
Trading in her job as
EVP and general counsel
to become CEO in June,
Braly heads the largest
company run by a woman.
WellPoint has revenues of
$56.9 billion and 35
million subscribers, the
most of any U.S. healthcare company.
IRENE ROSENFELD, 54
CHAIRMAN AND CEO
KRAFT FOODS
2006 RANK: 5
Kraft had a bumpy
2006. Revenues
were flat ($34.4
billion), and
earnings per share
declined in the fourth quarter.
But earnings were up for the
year as a whole, and in March,
Kraft regained control of its
destiny when it was spun off
from tobacco giant Altria Group.
Rosenfeld announced a
$5 billion stock repurchase
program in February and a
$7.2 billion acquisition of
Danone’s global biscuit business less than five months later.
One key goal: increasing Kraft’s
presence in emerging markets.
2006 RANK: 3
It hasn’t been easy
for this web 1.0
superstar to
figure out how to
succeed in a
2.0 world, but the $6 billion
company remains the world’s
No. 1 e-commerce brand.
PayPal revenue increased
34% in the most recent quarter,
and eBay upped its 2007 sales
forecast, thanks in large part
to its recent deal to purchase
StubHub. Investors are buying
in, sending the stock up 45%.
6
2006 RANK: 6
2006 RANK: 10
PRESIDENT AND CEO
WELLPOINT
2006 RANK: 2
CHAIRMAN AND CEO
SARA LEE
PRESIDENT, GLOBAL
BUSINESS UNITS
PROCTER & GAMBLE
ANGELA BRALY, 46
5
2 ANNE MULCAHY, 54
10 BRENDA BARNES, 53
7 SUSAN ARNOLD, 53
PAT WOERTZ, 54
CHAIRMAN, CEO, AND PRESIDENT
ARCHER DANIELS MIDLAND
2006 RANK: 4
Bio-based
plastics, chemical
alternatives,
ethanol: ADM
does it all.
Revenues rose almost 20%, to
$44 billion, and net income
increased 65%, to $2.2 billion.
With corn prices rising, though,
the “dot-corn” ethanol
phenomenon is losing some of
its glow, and the stock has
fallen sharply. Still, strong global
demand positions ADM’s
commodity-based businesses
well for the long haul.
Check out the
annual report:
Arnold’s name
comes right after
CEO A.G. Lafley’s
—and that may understate
her importance. Arnold is
responsible for the day-to-day
operations of the three global
business units in the $76 billion
company. An organic growth
goal of 4% to 6% annually
means adding billions of dollars
to the top line every year. But
Arnold has done it before,
transforming the once-sleepy
health and beauty business.
Is the turnaround
finally working?
Maybe—just
maybe. Sales rose
7.1%, to $12.3
billion, and operating income
32%, to $556 million, in fiscal
2007. The key: innovation.
Since 2005, Sara Lee has
accounted for almost half the
new bakery products in the
U.S., and Barnes plans to
launch 75 new products in
2008. The stock price, alas,
has barely budged. Investors
worry that margins will stay slim
because of increased marketing
spending.
8 OPRAH WINFREY, 53
11 URSULA BURNS, 49
PRESIDENT
XEROX
CHAIRMAN
HARPO
2006 RANK: 8
Having made stars
of the likes of
Rachael Ray and
Dr. Phil, Winfrey is
now trying to use
her clout to move the political
needle: She was an early
supporter of Democrat Barack
Obama’s bid for the presidency.
Politics may be Winfrey’s
Rubicon; Obama has been
faltering. Still, Winfrey’s cultural
clout is undeniable. Her Oscar
special this year was among the
top-rated shows that week, and
in a tough year for magazines,
O: The Oprah Magazine saw ad
pages rise 14%.
9
2006 RANK: 27
Burns is not only
the heir apparent
and right-hand
woman to CEO
Anne Mulcahy
(see cover story) but the force
behind the improved product
line at Xerox. One example of
the fruits of Burns’ R&D
investments: Xerox’s new
emulsion aggregate toner
plant in upstate New York,
which opened in August,
is the only one of its kind
in the U.S. No wonder net
income at Xerox grew more
than 20% last year.
12 SALLIE KRAWCHECK, 42
CHAIRMAN AND CEO, CITI
GLOBAL WEALTH MANAGEMENT
CITIGROUP
2006 RANK: 9
ANDREA JUNG, 49
CHAIRMAN AND CEO
AVON PRODUCTS
2006 RANK: 7
The stock is finally
showing life, up
15% in the past
year, as Jung has
proved to investors
that she is serious about
reinvigorating growth at the
$8.7 billion cosmetics
company. Among other
initiatives, she has increased ad
spending and is launching
Avon’s first worldwide ad
campaign, “Hello tomorrow,”
with Reese Witherspoon as
the new spokeswoman. The
company is also cutting jobs
and doing away with lessprofitable products.
10 BRENDA BARNES, 53
CHAIRMAN AND CEO
SARA LEE
2006 RANK: 6
Is the turnaround
finally working?
It’s been a
turbulent time for
the banking giant
($89.6 billion in
revenues; $240
billion market cap) and also for
Krawcheck, who used to be chief
financial officer. Amid problems
with the stock and the ouster of
Todd Thomson, Krawcheck was
reassigned to his post as head of
the $10 billion wealth
management business. The
move shrinks her profile on Wall
Street, but it also proves that CEO
Chuck Prince counts on her to
calm troubled waters.
Healthcare Businesswomen’s
Association.
Television just signed a deal to
offer its shows on AOL.
13 ANN LIVERMORE, 49
EVP, TECHNOLOGY
SOLUTIONS GROUP
HEWLETT-PACKARD
2006 RANK: 19
2006 RANK: 15
She oversees
institutional
securities and
global wealth
management,
which together account for more
than 80% of the bank’s $34 billion in revenues. Named copresident in early 2006, Cruz
has tremendous pull within the
company, where she has
worked for 26 years. She reports
directly to John Mack (who
sometimes refers to her
as the “Cruz missile”) and is
considered a possible successor.
Time Inc. is the
biggest gorilla in
the U.S. magazine
business, with 126
titles and almost
one-fifth of the industry’s ad
spending; half of American
households read at least one of
its titles every month. Moore has
ramped up digital initiatives, and
Time Inc. websites get 20 million
unique visitors a month. Growth
in online ad revenues has more
than offset declines in print
advertising. Still, these are hard
times for print; revenues in 2006
were down slightly, to $5.2 billion, and operating income went
up just 1%, to $911 million.
17 GINNI ROMETTY, 50
14
SVP, GLOBAL
BUSINESS SERVICES
IBM
2006 RANK: 16
CHRISTINE POON, 54
VICE CHAIRMAN
JOHNSON & JOHNSON
2006 RANK: 11
Since joining the
company in 2000,
Poon has kept adding
responsibilities. In
addition to leading the
pharma division, she
oversees procurement,
information management,
and operations at the
$57.1 billion company.
22 DIANE GREENE, 51
CHAIRMAN AND CEO
TIME INC.
CO-PRESIDENT
MORGAN STANLEY
2006 RANK: 14
She doesn’t make
headlines, but
Livermore delivers
results. Her group,
which includes
servers, storage, software, and
services for corporate clients,
accounts for 36% of sales at the
$101 billion company. Operating
income for her division jumped
nearly 60% last year, to $3 billion, part of the reason the Silicon
Valley stalwart has had a stellar
run on the stock market.
19 ANN MOORE, 57
16 ZOE CRUZ, 52
She heads strategy
development for
Global Services,
which accounts
for more than
half of IBM’s $91 billion in
revenues; the division recently
posted its ninth consecutive
quarter of profit growth.
Rometty’s results and an
aggressive expansion into India
have helped transform IBM
into a nimble global competitor
with fast-rising profits. The
stock has jumped 45% over
the past year.
18 JUDY MCGRATH, 55
15 ANNE SWEENEY, 49
CO-CHAIRMAN, DISNEY MEDIA
NETWORKS; PRESIDENT,
DISNEY-ABC TELEVISION
GROUP
WALT DISNEY
2006 RANK: 13
In 2006, Media
Networks’
operating income
rose 12.5%, and
revenues 10.8%,
to $14.6 billion. Sweeney also
added High School Musical to
her roster of hit shows (Grey’s
Anatomy, Dancing With the
Stars). The Disney Channel
phenomenon made it big on
cable, the web, iTunes, and
the stage, showing that she
has a grip on multiplatform
entertainment. Disney-ABC
Television just signed a deal to
offer its shows on AOL.
MTV Networks
delivers more than
half of parent
Viacom’s sales.
Revenues in
McGrath’s division rose 7% last
year, to $7.2 billion, and
operating income 11%. But
youth culture is fickle, and
MTV’s buzz has lessened since
her mentor, Tom Freston, was
fired in 2006. McGrath has her
reputation for cutting-edge
creativity riding on two projects:
a social networking platform,
Flux, and an investment in VBS.
tv, the online video offshoot of
hipster magazine Vice.
20 SUE DECKER, 44
PRESIDENT
YAHOO
RETURN
Yahoo is smaller
than Google,
slower growing,
and decidedly less
fashionable. Google’s stock has risen smartly in
the past year; Yahoo’s has
fallen. But Decker’s career is
only going up. A stock analyst
who joined Yahoo as CFO in
2000, she was promoted to
president in June to lead a
turnaround. Warren Buffett
gave her his vote of confidence:
He named her to the Berkshire
Hathaway board this year.
21
SUSANDESMOND-HELLMANN, 50
PRESIDENT
PRODUCT DEVELOPMENT
GENENTECH
2006 RANK: 17
DesmondHellmann, who
started as a
clinical scientist
at Genentech in
1995, has a dream: to flood
the market with breakthrough
cancer drugs. In 2006 the
$9.3 billion company took
a step in that direction.
Oncology sales passed the
$5 billion mark, making
Genentech tops in the U.S. in
that category. DesmondHellmann was named 2006
Woman of the Year by the
Healthcare Businesswomen’s
Association.
22 DIANE GREENE, 51
CEO
VMWARE
NEW
16 ZOE CRUZ, 52
CO-PRESIDENT
MORGAN STANLEY
2006 RANK: 19
NEW
Greene has run
VMware since
founding it in
1998 with her
husband, Mendel
Rosenblum. She sold the
company to EMC in 2004 for
$600 million, then stayed on
to continue running it (see
story). Still majority-owned by
EMC but spun off in an August
IPO, VMware is the fastestgrowing and most influential
enterprise software company
Silicon Valley has seen in a
decade—and worth a cool
$26 billion.
23 AMY BRINKLEY, 51
GLOBAL RISK EXECUTIVE
BANK OF AMERICA
2006 RANK: 23
CHAIRMAN AND CEO
MTV NETWORKS
VIACOM
2006 RANK: 12
CEO
VMWARE
Greene has run
VMware since
founding it in
Like all the big
banks, Bank of
America has seen
brighter days; its
stock is trailing the
S&P over the past year. But the
situation could have been much
worse. Brinkley sets the
standards for market and
operational risk; that BofA,
which has huge retail
operations, wasn’t too entangled in the subprime mess is
to her credit. BofA is even trying
to take advantage of the turmoil,
investing $2 billion in troubled
Countrywide Financial. After all,
managing risks sometimes
means taking them.
24 SUSAN IVEY, 48
CHAIRMAN, R.J. REYNOLDS
TOBACCO; CHAIRMAN,
PRESIDENT, AND CEO,
REYNOLDS AMERICAN
2006 RANK: 20
Reynolds’s main
products—cigarettes and chewing
tobacco—may not
be healthy, but its
financials certainly are. In 2006
total shareholder return at the
second-largest U.S. cigarette
company (2006 revenues:
$8.5 billion) was up 43%. The
$3.5 billion acquisition of Conwood, which controls a quarter
of the U.S. moist-snuff market,
looks solid. The biggest uncertainties: regulation and taxation.
American health-care system
by 2012.
Jamie Dimon, her longtime
mentor.
MOST POWERFUL WOMEN
25 ELLEN KULLMAN, 51
EXECUTIVE VP, SAFETY AND
PROTECTION, COATINGS
AND COLOR TECHNOLOGIES,
MARKETING AND SALES,
SAFETY AND SUSTAINABILITY,
PHARMACEUTICALS, AND
RISK MANAGEMENT
DUPONT
2006 RANK: 21
Not only does
she have the
longest title at the
science and tech
conglomerate (and
possibly anywhere), Kullman is
the most important division
head: Her segments generate
nearly 45% of the $27 billion
company’s revenue. She is also
on the board of General Motors.
26
CHARLENE BEGLEY, 40
PRESIDENT AND CEO
GE ENTERPRISE SOLUTIONS
GENERAL ELECTRIC
2006 RANK: 22
After running GE
Plastics for two
years—and overseeing the first
new polymer since
the 1980s—Begley helped
sell the unit to Saudi Basic
Industries in May for $11.6 billion, a price that was considered
a pleasant surprise. Now she’s
running GE Enterprise
Solutions, a new business
focused on boosting
productivity through technology
and automation solutions. GE
estimates that it will be an
$11.6 billion operation. Begley
will report directly to CEO Jeff
Immelt.
27
HEIDI MILLER, 54
31 CAROL MEYROWITZ, 53
28 CECE SUTTON, 49
CEO AND PRESIDENT
TJX
2006 RANK: 26
EVP, HEAD OF RETAIL AND
SMALL BUSINESS BANKING
WACHOVIA
NEW
Days before
Meyrowitz
became CEO of
the nation’s largest
off-price retailer
in January, TJX revealed a
massive customer data breach.
It was a tough way for the
company vet to begin her
tenure. The $18 billion retailer,
whose U.S. stores include T.J.
Maxx and Marshalls, faces
lawsuits from consumers,
banks, and investors; related
charges have eaten into
quarterly profits. On a positive
note, sales have been strong, up
7% in the first half of this year.
Wachovia, with
$720 billion in
assets, has seen
its stock price
drop, in part
because of credit market
woes. Nevertheless, Sutton’s
stock within Wachovia is
rising. She began her 29-year
career as a clerk and now
oversees a division at the
Charlotte-based bank that
accounts for nearly a third of
its $30 billion in revenues.
She is one of two serious
contenders to head the
General Bank, which oversees
the retail and wholesale
businesses.
32 CARRIE COX, 50
EVP, PRESIDENT OF GLOBAL
PHARMACEUTICALS
SCHERING-PLOUGH
2006 RANK: 39
29
SHERYL SANDBERG, 38
VP, GLOBAL ONLINE SALES AND
OPERATIONS
GOOGLE
NEW
Sandberg’s division has
helped make Google’s
online ad network one of
the world’s largest, and
it accounts for more
than half the company’s
$10.6 billion in revenues.
She is the youngest
woman on our list.
CEO, TREASURY AND
SECURITIES SERVICES
J.P. MORGAN CHASE
2006 RANK: 25
Miller’s division
generates 14% of
J.P. Morgan
Chase’s $61 billion in revenues.
Operating profits rose 21% last
year and are heading up this
year too. In the first half of
2007, Miller increased assets
under custody by 32%, to
$15.2 trillion; she oversees
operations in 39 countries.
She reports directly to CEO
Jamie Dimon, her longtime
mentor.
28 CECE SUTTON, 49
EVP, HEAD OF RETAIL AND
SMALL BUSINESS BANKING
WACHOVIA
30 ABIGAIL JOHNSON, 45
PRESIDENT, FIDELITY
EMPLOYER SERVICES
FIDELITY
2006 RANK: 18
Questions about
her health and
Fidelity’s wellbeing have thrown
into doubt the idea
that Johnson will lead the
$12.9 billion mutual fund giant
someday. A number of
executives have quit this year,
including key players within her
unit, which dominates the
401(k) market. But Johnson is
still a major shareholder—and
CEO Ned Johnson’s daughter.
Aggressive streamlining and shrewd
deals have
delivered stellar
results at Cox’s
$10.5 billion division, which
accounts for 80% of ScheringPlough’s total sales; revenues at
her division are up more than
13%, and operating income has
nearly tripled over the past year.
Some credit goes to a $1.9 billion
joint venture with Merck to
market cholesterol drugs Vytorin
and Zetia. The companies are
also developing an allergy pill.
CHAIRMAN AND CEO
OGILVY WORLDWIDE
WPP
2006 RANK: 30
Only 44% of this
advertising
powerhouse’s
$2 billion in
revenue comes
from traditional advertising—a
figure that indicates how
Lazarus has been able to lead
Ogilvy into new media. The
Dove “Evolution” viral video
attracted more than 400 million
consumer views, making it one
of the most successful such
campaigns ever.
35 MARY SAMMONS, 61
CHAIRMAN, PRESIDENT,
AND CEO
RITE AID
2006 RANK: 34
The day
Sammons was
named chairman
in June, she also
completed the
Brooks Eckerd acquisition,
making Rite Aid the largest
drugstore chain on the East
Coast. Rite Aid has more than
5,000 stores and $17.6 billion
in sales. Sammons hopes her
plans to add 1,000 new stores
over the next five years will
boost razor-thin profit margins
and steady the stock. Shares
rose nicely in the first half of
2007 but have slumped since.
36 LISA WEBER, 44
33
LINDA DILLMAN, 51
EVP, RISK MANAGEMENT,
BENEFITS, AND
SUSTAINABILITY
WAL-MART STORES
2006 RANK: 29
Taking big strides
on the greening
of Wal-Mart,
Dillman is
spearheading
environmentally friendly stores
with 100% renewable energy.
In January the world’s biggest
retailer launched the first of
four high-efficiency (HE.1)
stores, which are expected to
be 20% more energy-efficient.
She is also championing
Better Health Care Together
in partnership with the U.S.
government to revitalize the
American health-care system
by 2012.
NEW
Wachovia, with
$720 billion in
assets, has seen
its stock price
drop, in part
because of credit market
34 SHELLY LAZARUS, 60
34 SHELLY LAZARUS, 60
CHAIRMAN AND CEO
OGILVY WORLDWIDE
WPP
2006 RANK: 30
Only 44% of this
PRESIDENT, INDIVIDUAL
BUSINESS
METLIFE
2006 RANK: 33
Weber bet that
improvements to
technology,
service platforms,
and risk
management would hone
the competitive edge of her
$17.7 billion division. The
strategy seems to be working.
Weber’s expanding annuity
products account for 21% of
MetLife’s profits. She also
oversees automobile and
home-insurance businesses.
technology. Gaining fans
around the company, she has
a good shot at succeeding
Andrea Jung as CEO.
MOST POWERFUL WOMEN
37
40
43 CATHLEEN BLACK, 63
PRESIDENT
HEARST MAGAZINES
HEARST
2006 RANK: 38
CLAIRE BRABOWSKI, 50
KATHLEEN MURPHY, 44
EVP AND COO
TOYS “R” US
CEO, U.S. WEALTH MANAGEMENT
ING
NEW
NEW
After a successful career
at McDonald’s, she
served as president and
COO and then interim
CEO of RadioShack.
Now Brabowksi is using
her operational skills to
turn around the $13 billion toy retailer, which
went private in 2005.
38
JOANNE MAGUIRE, 53
EVP, SPACE SYSTEMS
LOCKHEED MARTIN
2006 RANK: 35
Trained as an
engineer, Maguire
was named to
run the defense
giant’s space
systems division in July 2006.
She sells missile defense
systems and military, civil, and
commercial satellite equipment
and services. The U.S.
government accounted for
90% of last year’s $8 billion
in sales. A joint venture with
Boeing to operate and manage
NASA’s space shuttle fleet is
expected to improve margins.
39 COLLEEN GOGGINS, 53
WORLDWIDE CHAIRMAN
CONSUMER GROUP
JOHNSON & JOHNSON
2006 RANK: 37
A 26-year veteran
of J&J and a
member of the
executive committee, Goggins
added over-the-counter sales to
her responsibilities in January.
With $9.2 billion in revenues in
2006, her division accounted
for 17.5% of J&J’s total. The
recent acquisition of Pfizer
Consumer Healthcare, which
gets half its revenues outside
the U.S., enhances J&J’s
international position in the
field. J&J now leads in 22
different consumer health
categories—a position of
strength in an aging world.
Wealth management
is one of ING’s growth
divisions. It offers
everything from financialplanning services to
annuities. Last year assets
under management grew
12%, to $158 billion, and
after-tax profits jumped
28%, to $708 million.
41
DAWN HUDSON, 49
PRESIDENT AND CEO
PEPSI-COLA NORTH AMERICA
PEPSICO
2006 RANK: 42
Thanks in part to
her leadership,
Pepsi-Cola North
America, the
refreshment
beverage unit of PepsiCo,
continues to gain share (26%)
in the U.S. beverage market,
surpassing a certain company
in Georgia (23%). PepsiCo is
counting on Hudson to reverse
the erosion in carbonatedbeverage consumption, one of
the company’s key challenges.
Black oversees
19 U.S. titles—
among them such
icons as
Cosmopolitan,
Good Housekeeping, Esquire,
and Town & Country—and
another 200 international
editions in 100 countries. She
has also been ahead of the
game in the modern marriage
of celebrity and magazines,
publishing the phenomenon
that is O: The Oprah Magazine.
All told, it adds up to about
$2.5 billion in ad revenues.
44
EVP AND COO
ENTERPRISE
NEW
With the recent purchase
of Vanguard Car Rental,
Enterprise can expect its
annual revenues to reach
$12 billion—putting it
well ahead of Hertz
($8.1 billion). Nicholson
is in charge of the dayto-day operations at the
privately owned company.
PRESIDENT
AVON PRODUCTS
NEW
43 CATHLEEN BLACK, 63
PRESIDENT
HEARST MAGAZINES
HEARST
2006 RANK: 38
Black oversees
19 U.S. titles—
among them such
Since Pascal’s
promotion last
year, Sony has
had more than a
dozen hits,
including The Da Vinci Code,
Casino Royale, and The Pursuit
of Happyness. Revenue grew
nearly 30%, to $8.2 billion, in
2006, and included a record
$3.3 billion in theatrical
receipts—all without the help
of Spider-Man. Pascal drives
creative success at Sony
Pictures, while co-chair
Michael Lynton takes care of
the numbers.
PRESIDENT, LILLY USA
ELI LILLY
2006 RANK: 43
PAM NICHOLSON, 47
45
C0-CHAIR, SONY PICTURES
ENTERTAINMENT; CHAIR OF
THE MOTION PICTURE GROUP
SONY
2006 RANK: 41
47 DEIRDRE CONNELLY, 47
42 LIZ SMITH, 44
A 14-year veteran
of Kraft Foods,
where Irene
Rosenfeld (No. 5)
was a mentor,
Smith has risen quickly
at Avon. After joining as a
top marketer in 2005, she
took over North American
operations and in September
became president. Her new
duties include the global
supply chain and information
technology. Gaining fans
around the company, she has
a good shot at succeeding
Andrea Jung as CEO.
46 AMY PASCAL, 49
MELANIE HEALEY, 46
GROUP PRESIDENT, GLOBAL
FEMININE AND HEALTH CARE
PROCTER & GAMBLE
NEW
Feminine care
is hardly
glamorous, but
Healey made her
mark in it,
launching Tampax Pearl (a
premium tampon), Naturella (a
sanitary pad for developing
markets), and other products
that have helped deliver doubledigit growth. With the recent
addition of the $9 billion healthcare unit to her portfolio,
Healey’s stock is rising.
A Lilly lifer,
Connelly is on
everyone’s short
list to be Big
Pharma’s first
woman CEO. Connelly got her
current job in June 2005. With
2006 revenues of $8.6 billion
(up 10%), Lilly USA accounts
for more than half of its parent’s
sales. Among the biggest
growth drivers are Zyprexa, an
antipsychotic that could reach
$5 billion in sales this year, and
Cymbalta, an antidepressant.
48
JAN FIELDS, 52
EVP AND COO
MCDONALD’S USA
MCDONALD’S
NEW
Fields, a former crew
member, oversees the
operations of 14,000 U.S.
restaurants. In 2006 the
U.S. rang up $7.5 billion
in revenue, about a third
of McDonald’s total, and
had the best profit margin
(19.1%) of any region.
MOST POWERFUL WOMEN
MOST POWERFUL WOMEN
BY THE NUMBERS
BY THE NUMBERS
50
WOMEN TO WATCHCATHIE
LESJAK, 48
49 JULIA STEWART, 52
CHAIRMAN AND CEO
IHOP
PAY AND PERFORMANCE
NEW
After the acquisiApplebee’s,
Four on tion
the of
way
up.
where Stewart
once headed the
U.S. division, she
will helm the nation’s largest
casual-dining chain.
Systemwide sales are
expected to reach about
$7 billion this year. Since
becoming CEO in 2002,
Stewart has shored up IHOP’s
finances. Wall Street likes
Stewart, and likes the merger
too—the stock is up 40%.
EVP AND CFO
HEWLETT-PACKARD
NEW
After 20 years at HewlettPackard, Lesjak won the
top finance position last
December. One of nine
executive VPs who steer
HP, Lesjak has been key
to CEO Mark Hurd’s
financially disciplined
turnaround. The stock is
up 40% in the past year.
The ten highest-paid women, in order of total
shareholder return (TSR). Circles show total
compensation; numbers on vertical axis show TSR.
Zoe Cruz (16) $30.0 MILLION
Co-President
Morgan Stanley
+50%
Ann Livermore (13)
$11.8 MILLION
EVP, Tech. Solutions Group
Hewlett-Packard
Susan Ivey (24) $10.7 MILLION
Chairman, R.J. Reynolds Tobacco
Chairman, President, and CEO
Reynolds American
+40%
Pat Woertz (6) $10.7 MILLION
Chairman, CEO, and President
Archer Daniels Midland
Irene Rosenfeld (5) $19.2 MILLION
+30%
Chairman and CEO
Kraft Foods
Christina Gold $16.5 MILLION
CEO and President
Western Union
WOMEN TO WATCH
Andrea Jung (9) $10.7 MILLION
Four on the way up.
SHARI BALLARD, 41
DEBORAH WAHL MEYER, 44
EVP, Entertainment, Multichannel,
and Human Capital
BEST BUY Starting as an assistant store
manager in 1993, Ballard has risen steadily.
Credited with reducing employee turnover,
she also oversees the U.S. websites
and call centers.
VP and Chief Marketing Officer
CHRYSLER Meyer made her name
marketing Lexus in the U.S.; now Chrysler
wants her to work the same magic
with the Chrysler, Dodge, and Jeep brands.
LAUNI SKINNER, 43
President, U.S. Division
STARBUCKS The most senior woman at
the coffee retailer, she’s the first female
to run its largest operating unit. The U.S.
accounts for 79% of the company’s
$7.8 billion in revenues.
ERIN CALLAN, 41
CFO
LEHMAN BROTHERS A cop’s daughter who was
a lawyer before she turned to banking, Callan
is the first woman on Lehman’s executive
committee.
+20%
Chairman and CEO
Avon Products
Paula Reynolds $13.9 MILLION
CEO and President
Safeco
+10%
KEY
2006 COMPENSATION
Circles are scaled to
size of compensation.
0
CHANGE
IN TOTAL
SHAREHOLDER
RETURN, 2006
(1) Rank on FORTUNE’s
Most Powerful Women list
Entries in gray are not on list.
–10%
LIST DROPOUTS
–20%
Staying on top is not easy.
BUMPED
2006 RANK
28
MARTHA STEWART
Founder, Martha Stewart
Living Omnimedia
32
PAT CURRAN
EVP, Store Operations,
Wal-Mart Stores
36
DOREEN TOBEN
CFO, Verizon
40
PAULA REYNOLDS
CEO and President, Safeco
47
NANCY PERETSMAN
EVP and Managing Director
Allen & Co.
48
DIANE GULYAS
Group VP, DuPont
49
CHRISTINA GOLD
CEO, Western Union
50
STACEY SNIDER
CEO, DreamWorks SKG
FIRED
46
CATHERINE WEST
EVP and COO, J.C. Penney
LEFT THE COMPANY
Meg Whitman (3) $11.1 MILLION
24
President and CEO
eBay
LOIS QUAM
CEO, Ovations, UnitedHealth
Group
31
MARY MINNICK
Susan Decker (20) $25.0 MILLION
–30%
President
Yahoo
EVP, Coca-Cola
44
ELLYN MCCOLGAN
President, Distribution
and Operations, Fidelity
Investments
45
CLAIRE WATTS
EVP, Wal-Mart Stores
–40%
Compensation data are for companies with more than $1 billion in
revenue that filed proxies as of Sept. 1. Total compensation includes:
annualized base salary, discretionary bonus, incentive plans, grant
date present value of options awards and stock awards, and other
compensation as disclosed in proxies.
CHART SOURCES: EQUILAR (COMPANY PERFORMANCE DATA); BLOOMBERG (TOTAL RETURN DATA)
PRODUCED EXCLUSIVELY BY FORTUNE CUSTOM REPRINTS. ©2007 TIME INC. ALL RIGHTS RESERVED.