Good morning, Broadsheet readers! I’m back—and ready to catch up on the news…. The WNBA has game in the new edition of NBA Live, women share their horror stories about pumping breast milk at work, and we take a look at what went wrong for Avon’s Sheri McCoy. Have a relaxing weekend.
• Makeover fail. Fortune‘s Phil Wahba digs into the story behind the ouster of Avon CEO Sheri McCoy, who, as we reported yesterday, will step down in March.
As Phil notes, her departure is not exactly a surprise; under her tenure, the company’s sales and stock price have plummeted. While she inherited plenty of problems from her predecessor, Andrea Jung, her repeated turnaround efforts flopped—and unhappy activist investors Barington Capital Group LP and partner NuOrion Partners AG did not let anyone forget it.
Phil identifies four of McCoy’s most crucial missteps: She was late to e-commerce, failed to stop the shrinking of the company’s iconic “Avon lady” salesforce, refused to exit or revamp in the U.S, and didn’t recognize the strength of the growing Hispanic market.
McCoy’s successor has not yet been identified, but news of her departure adds to what was already shaping up to be a bad couple months for female Fortune 500 chiefs. When the 2017 Fortune 500 list came out in June, it contained a record 32 women CEOs. Since then, Yahoo CEO Marissa Mayer lost her job, and we learned that Staples will go private, taking CEO Shira Goodman out of contention. Earlier this week, Mondelez CEO Irene Rosenfeld announced that she will step down, and now McCoy. Is it just a cruel summer for the women of the Fortune 500—or a sign of things to come? Fortune
• Pump in a dump? While employers have a legal obligation to provide nursing moms with “the space necessary to allow her to express milk in private and to have the time to do that,” the reality of what that actually means for working mothers is all over the map. In this WaPo story, women from all over the country share their experiences pumping at work. Washington Post
• The David dilemma. A new report on FTSE 100 CEOs underscores the blatant…