Marillyn plays defense

• A sweet appointment. Hershey has tapped 11-year company veteran Michele Buck to serve as the chocolate maker's next president and CEO. The 55-year-old Buck, who currently serves as COO, will officially begin to steer the company on March 1.

Buck will become one of just 27 women to run a Fortune 500 company in 2017. (With $7.4 billion in annual revenue, Hershey ranked #362 on the most recent list.) The news also means that another woman will be added to the growing list of female executives that steer Big Food companies. Other notable executives on that list include PepsiCo'snIndra Nooyi, Campbell Soup's Denise Morrison, and Mondelez's Irene Rosenfeld—all of whom rank on Fortune's list of Most Powerful Women. Fortune

• Conway stays close. Donald Trump's former campaign manager Kellyanne Conway will be appointed counselor to the president-elect, officially becoming the highest-ranking woman in his White House. In a statement, Trump said Conway would continue her role as a "close adviser," and would be responsible for helping carry out his priorities and deliver his message from inside the White House. New York Times

• Marillyn plays defense. Donald Trump met with defense contractor chiefs, including Lockheed Martin Corp. CEO Marillyn Hewson, two weeks after he publicly berated the cost of military projects. In a statement released after the meeting, Hewson said she "appreciated the opportunity to discuss the importance of the F-35 program" and was committed "to delivering an affordable aircraft to our U.S. military and our allies." Fortune

• Honestly less techy. Fortune's Beth Kowitt makes the case that Honest Company should stop acting like a tech startup. Compared to its rival Seventh Generation, the Jessica Alba-founded brand has taken much more funding ($228 million vs. $100 million) and hired three times as many employees. Yet while Seventh Generation was bought for a reported $600 million this fall, Alba's venture has yet to find an exit. Fortune

• A female farmer-in-chief? One contender for the post of President-elect Trump's Agriculture secretary is Susan Combs, former Texas comptroller and agriculture commissioner. Combs has the backing of House Agriculture chairman Mike Conaway and is said to have nutrition policies that would "please Michelle Obama." Fortune

• Peace out, PP? Texas is officially kicking Planned Parenthood out of the state's Medicaid program. The women's health organization had previously received $3.1 million in Medicaid funding, but those dollars will be nixed in 30 days unless officials manage to block the cuts. Texas Tribune

MOVERS AND SHAKERS: Kate Duchene has been promoted from general counsel to CEO of Resources Connection, Inc.

• The spine-in-chief? Valerie Jarrett is President Obama's longest-serving advisor, and this Washington Post interview hints as to why. Despite her reputation for being the president's "spine," Jarrett refuses to take credit for keeping Obama on track. "His spine is perfectly strong," she insists. "I think it's a disservice to him to think that he needs somebody to keep him focused." Washington Post

• Katie's back! Katie Couric is returning to NBC's Today show next month for a weeklong stint at the morning program's anchor desk. Los Angeles Times

• A beautiful new law. A new Illinois state law that goes into effect in 2017 will require the state's 88,000 licensed beauty workers (that includes barbers, cosmetologists, and hair braiders) to undergo an hour-long training in recognizing and responding to signs of domestic violence. Slate

• Power shopper. While Catherine Bloom is employed by retailer Neiman Marcus and works on commission, she is a personal shopper with a unique amount of power: Bloom decides which fashions to stock at the store and has her own budget to purchase them. Wall Street Journal

• Gamergate to Capitol Hill? Game developer Brianna Wu, who spoke out against harassment of women in the gaming industry during the infamous Gamergate scandal, will run for Congress in 2018. Her main agenda will be economic. VentureBeat

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