Good morning, Broadsheet readers! Goldman Sach settles its long-running pay disparity lawsuit, Frank founder Charlie Javice notches a win against JPMorgan Chase, and the CEO of Pernod Ricard North America brings her personal history to her leadership in the liquor industry. Have a terrific Tuesday.
– Drink responsibly. Ann Mukherjee has worked in salt (PepsiCo), sugar (Kraft Heinz), and now alcohol as the CEO of Pernod Ricard North America.
It’s her current job that resonates the most in Mukherjee’s own life—in a way some might find surprising, as my colleague Phil Wahba writes in a new Fortune story. When Mukherjee was a teenager, her mother was killed by a drunk driver. Before that, Mukherjee was sexually assaulted by a man who was drunk. And yet, she’s chosen to sell liquor at the company behind Absolut and Glenlivet.
Ann Mukherjee, chair and CEO of Pernod Ricard North America.DeSean McClinton for Fortune From her position as North America CEO, overseeing 30% of Pernod Ricard’s total €10.7 billion ($11.7 billion) in 2022 sales, Mukherjee aims to encourage responsible consumption. She did the same, in a different context, as the “Queen of Corn” overseeing the corn chips portfolio at PepsiCo.
“If this were a world that only serviced needs and not wants, it would be a tough world to live in. My entire career has been about helping people enjoy life but doing it in a responsible way, with moderation,” she says. That’s what Mukherjee says she does, choosing a dirty Absolut martini on a date night with her husband and Scotch at home with her girlfriends.
“I felt the universe was trying to tell me something,” she says of the Pernod Ricard job coming her way. “Losing my mother was the greatest loss of my life, and no one, and I mean no one, should have to go through that. That’s why I’m here. It’s important to advocate for the responsible use of products.”
Simply put, she says, “If you’re buying our products as a weapon, we don’t want your business.”
Mukherjee aims to improve the spirits industry in other ways, too. She criticizes liquor stores as unwelcoming to women, with low lighting and shelves stocked high and out of reach. She’s encouraging the industry to create opportunities for more discovery and a pleasant browsing experience that is welcoming to drinkers of all identities.
I highly recommend reading the rest of Phil’s interview for more of Mukherjee’s insights on the spirits industry.
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 Claire Zillman. Subscribe here.
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- Settled. Goldman Sachs is paying $215 million to settle a class action lawsuit accusing the bank of systematically underpaying women. The resolution ends one of Wall Street's longest-running pay disparity lawsuits. Lead plaintiff Cristina Chen-Oster first filed a complaint in 2005. Goldman will hire an outside expert to analyze its performance evaluation and promotion processes for three years. Bloomberg
- Bills, bills, bills. A Delaware Chancery Court judge has ruled that JPMorgan Chase must pay the mounting legal bills of Charlie Javice, the founder of financial aid site Frank. The bank bought Frank for $175 million in 2021 and is now suing Javice for allegedly inflating user numbers. (Javice has argued that JPMorgan rushed its due diligence.) Fortune
- Case dismissed. Twitter has for now won the dismissal of a proposed class action accusing the tech giant of disproportionately targeting women in its recent layoffs. A California federal judge said the lawsuit was missing basic information and ruled that allegedly sexist remarks by CEO Elon Musk were irrelevant because they occurred before Musk bought the platform. Plaintiffs have three weeks to amend their claims. Reuters
MOVERS AND SHAKERS: Madelyn McHugh has joined Human Interest as VP, head of strategic communications. Vera Therapeutics has hired Kerry Cooper, M.D., as SVP, medical affairs. Outbrain has appointed Stephanie Himoff as EVP, global publishers, and Sarah Baird as SVP, revenue operations. Politico has named Jen Hurley SVP of finance for operations in North America.
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- 'Running scared.' Planned Parenthood was supposed to be a beacon of care in a post-Dobbs world. But critics argue that the organization has become too beholden to corporate interests and lawyers prioritizing the group's self-preservation, all at patients' expense. Planned Parenthood argues it's taken numerous steps to treat patients in states where abortion is outlawed or under threat. The New Yorker
- Dynamic duo. Germany’s Merck KGaA will soon make history as the only DAX 40 company with women in its two top executive posts. Ex-investment banker Helene von Roeder will become CFO in July, joining CEO Belen Garijo Lopez at the head of the firm. Bloomberg
- Regrets, I've had a few. Ex-Yahoo CEO Marissa Mayer reflected on her time at the tech giant last week, remarking that in its hunt for a "transformational acquisition," Yahoo erred in buying Tumblr: “I think Netflix was $4 billion and Hulu was at $1.3 billion at the time. And either of those, with hindsight being 20/20, would have been a better acquisition.” Fortune
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"Every part of my being believes I can run faster."
—Jamaican sprinter Shelly-Ann Fraser-Pryce on racing at age 36.
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