Postcards

How the power players do it - by Fortune senior editor at large Patricia Sellers

The women on Fortune's Executive Dream Team

August 22, 2011: 3:55 PM ET

The 2011 Fortune Most Powerful Women list will be announced on September 29. Meantime, a few stars on the 2010 MPW list are on Fortune's Executive Dream Team--a fantasy all-star lineup of managers, selected by Fortune editors with assists from recruiters and other business know-it-alls.

I use the term know-it-all with endearment because the selections, revealed today, are good. The non-executive chair of choice: Anne Mulcahy, the former CEO of Xerox (XRX), which she rescued from the brink. Mulcahy now chairs Save the Children and is also on the boards of Target (TGT) and Johnson & Johnson (JNJ).

The Dream Team Chief People Officer is Susan Chambers, who oversees the employees of Wal-mart (WMT)--the largest corporate population on earth.

On the reserve Executive Dream Team: Kraft Foods (KFT) CEO Irene Rosenfeld, Oracle (ORCL) President and CFO Safra Katz, NBC Universal (CMCSA) EVP Pat Fili-Krushel, and IBM's (IBM) Ginni Rometty, who is a contender to be the next CEO there, after Sam Palmisano retires..

Fortune also assembled a Dream Team for Startups, where Sheryl Sandberg nabbed the chief operating officer slot. That's the same role she holds at Facebook, which every startup desires to be.

Three women who haven't appeared on the Fortune MPW list also made the Startup Dream Team: Rent the Runway co-founder Jennifer Hyman, Egon Zehnder recruiter Martha Josephson, and Ariel Investments' Mellody Hobson, who has plenty of boardroom experience as a director of Starbucks (SBUX), Estee Lauder (EL), and DreamWorks Animation (DWA). These are women to watch.

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