Good morning, Broadsheet readers! Two female executives launch Be a Breadwinner to help women achieve their financial goals, OpenAI CTO Mira Murati talks about the company’s new video generation platform, and Fortune senior writer Maria Aspan reports on the sudden departure of Under Armor CEO Stephanie Linnartz. Have a great Thursday.

– Abrupt endings. CEO Stephanie Linnartz thought she had three years to turn Under Armor around. Instead, she leaves after just a year.

Under Armour, the long-struggling sportswear company still controlled by founder Kevin Plank, said Wednesday that Plank would replace Linnartz as CEO effective April 1. Plank becomes Under Armor’s fourth CEO in four years after initially “resigning” from the company. role in 2020. (He has since remained executive chairman and still owns 65% of Under Armour’s voting stock.)

It’s a shocking departure for Linnartz, a respected executive who was previously No. 2 at Marriott International — and yet it’s not surprising. Linnartz knew she was taking a big gamble on a turnaround job at Under Armor, as she told me last summer for a Fortune profile.

“I believe in taking calculated risks,” she told me at the time. “I don’t believe in being reckless.”


But it was clear early in Linnartz’s tenure that Plank did not want to give up control of the company he founded in 1996. (I knew it was a bad sign when he declined multiple requests to call me) (that article, for a short interview about his new CEO.) And Linnartz had done that too a lot of to fix, which Plank was ultimately largely responsible for: slowing growth, a plummeting stock price, a faded “second-rate brand” and a founder who couldn’t stop generating controversy. As I wrote in October:

Recent years have given us several examples of ambitious, experienced executives – often women – taking on a CEO job that requires them to work for a predecessor or founder, trying to keep him happy while solving some of the problems that he caused.

…Everyone has a boss to be happy with – even ridiculously well-paid CEOs – and the vagaries of working for the man you’re supposedly replacing aren’t always gendered. But it’s striking how many ambitious women still have to take such risks to have a shot at the top positions in corporate America, where women make up barely 10% of Fortune 500 CEOs. The career choices made by (former Walgreens CEO Roz) Brewer, (current to accept in order to move forward.

Female CEOs already have shorter tenures than men, as my colleague Lila MacLellan recently reported, and replacing a male founder seems particularly fraught. Last month, Nextdoor said co-founder Nirav Tolia will replace CEO Sarah Friar. This week, Linnartz’s abrupt departure from Under Armor gives us another bleak data point.

Read my full story on Linnartz’s departure from Under Armor here and my original profile of her here.

Maria Aspan
maria.aspan@fortune.com
@mariaaspan

The Broadsheet is Fortune’s newsletter for and about the most powerful women in the world. Today’s edition was edited by Joseph Abrams. Subscribe here.

ALSO IN THE HEADLINES

– Generate buzz. Mira Murati, chief technology officer at OpenAI, defended bugs and visual inconsistencies in the AI ​​company’s Sora video generation model. Murati claimed that Sora, which she said would launch this year, was still being tweaked and gave vague answers when asked to identify what content the model was trained on. Wall Street Journal

– Access to IVF. Amid concerns about access to IVF following Alabama’s ruling, the Department of Veterans Affairs announced it will begin covering the procedure for singles and same-sex couples. The VA faced lawsuits claiming its IVF coverage policy was discriminatory. Washingtonpost

– Words of the wise. Two female executives have announced they are launching an event and newsletter aimed at providing women with strategies and plans to achieve their financial goals. Daniella Pierson, CEO of Newsette, and Kristin Lemkau, CEO of JP Morgan Wealth Management, say their new Be a Breadwinner platform will teach people how to make personal wealth a priority. WWD

– Prepared in Denmark. Danish Prime Minister Mette Frederiksen has announced that the country will begin including women in the military as part of its commitment to gender equality. Fortune

– I’m missing the point. Experts say efforts to boost a country’s birth rates by offering financial incentives to women in East Asian countries are failing because they fail to address the problems that cause low birth rates in the first place. Fortune

POWER AND SHAKERS: Called Foot Locker Cindy Carlisle as executive vice president and chief human resources officer. Catalyst appointed Jennifer McCollum as new president and CEO, with success Lorraine Hariton. AWS alum Teresa Carlson joins PagerDuty’s board.

ON MY RADAR

We analyzed 46 years of consumer sentiment data and found that today’s “vibecession” is just men starting to feel as bad about the economy as women historically have Fortune

Will she make the next Birkin? New York Times

QAnon for wine moms The Atlantic Ocean

PARTING WORDS

“The theme is that they are very comfortable in their own skin, in a way that was definitely not the case when they were younger. And there is a kind of pride that maybe wasn’t there before.”

– Actress Julia Louis-Dreyfus describes what she saw from the guests in her podcast series in which she interviewed older women.

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