Another Fortune Most Powerful Woman -- a longtime member of our annual Power 50 list -- is leaving the corporate world. Susan Desmond-Hellmann, who was Genentech's (DNA) president of product development, is heading to the University of California San Francisco as chancellor.
Desmond-Hellmann's departure from business's upper echelons (She ranked No. 13 on Fortune's 2008 Power 50 list) adds to the trend of top women execs leaving corporations and deciding not to jump back in. Among the departed: former Procter & Gamble (PG) president Susan Arnold, former Pepsi-Cola North America (PEP) CEO Dawn Hudson, former Yahoo (YHOO) president Sue Decker, and the trio who once were the most renowned women on Wall Street: Sallie Krawcheck of Citigroup (C), Zoe Cruz of Morgan Stanley (MS), and Erin Callan of Lehman Brothers, whose recent leave from her new employer, Credit Suisse Group, is looking like it may be permanent.
All these onetime stars are on the sidelines except Hudson, who recently joined Parthenon Group, a Boston-based strategic advisory, as vice chairman -- a three-day-a-week commitment to rachet down her stress level, Hudson says.
This decision by Desmond-Hellmann, 51, isn't so surprising given Genentech's fate: in March, Swiss drug giant Roche won a year-long battle to acquire the 44% of the biotech company that it didn't already own for a whopping $46.8 billion. Chief executive Art Levinson, a Desmond-Hellmann fan who promoted her from clinical scientist to chief medical officer to EVP to president, lost the CEO title and remains chairman. Questions abound regarding whether Roche will be able to retain Genentech's entrepreneurial culture. That culture has helped Genentech become not only the best company in biotech but also one of Fortune's Best Companies to Work For.
A onetime practicing oncologist who never imagined she'd climb the corporate ladder, Desmond-Hellmann is returning to her roots. She started her career at UCSF and, she says, "my heart has never left it." She can't talk at length about her move until the California Board of Regents approves her appointment. Stay tuned to Postcards next week to hear more from Desmond-Hellmann.
Meantime, have a great weekend!
Another powerful woman called last week to tell me she's opting out. "I'm going to do what I want to do rather than what I need to do," said Julie Fasone Holder, Dow Chemical's (DOW) SVP and chief marketing, sales and reputation officer
It's the trend lately. If you've been checking into Postcards regularly, you've read about my conversations with high-ranking women choosing the good life vs. the grind. Susan Arnold MORE
Patricia Sellers - Apr 7, 2009 2:40 PM ET
Who are you? It's more important than ever to know the answer to this question.
Think about it -Â When you're on shaky ground (aren't we all these days?), when your bosses and direct reports question your moves (admit it, they do), and when you're rethinking your life or career (you'd better be, or you're a fool), you need one core competency: Know thyself.
A primer in this regard: a book that I MORE
Patricia Sellers - Mar 27, 2009 12:54 PM ET
by Patricia Sellers
Dawn Hudson spent more than a decade chasing stretch goals at PepsiCo (PEP). She headed sales and marketing at Frito-Lay, the consumer giant's snack unit. She led marketing at Pepsi-Cola North America and ascended to CEO of that $5.5 billion business.
That job turned out to be Hudson's ceiling inside PepsiCo, where chairman and CEO Indra Nooyi has put her own stamp on the company. Hudson (who ranked as MORE
Patricia Sellers - Mar 26, 2009 1:39 PM ET
On Thursday, Pattie and I had one of those "pinch yourself" moments. We were invited to the World TeamTennis suite at the U.S. Open in Flushing Meadows. World TeamTennis is a professional and amateur co-ed tennis league created by Billie Jean King. Translation: We we were guests of King at the Billie Jean King National Tennis Center.
While these circumstances alone are awe-inspiring, what made the experience truly special was MORE
Jessica Shambora, Writer-Reporter - Sep 5, 2008 1:19 PM ET
Pat Russo's planned resignation as CEO of telecom-equipment giant Alcatel-Lucent (ALU) isn't so surprising given her unending tide of challenges: intense industry competition, out-of-control costs, cultural clashes following the 2006 merger of the American and French companies. This simply wasn't manageable for a chief who, despite her impressive record as a turnaround champ at IBM (IBM) and then AT&T (ATT), didn't satisfy investors on either side of the Atlantic.
Some might MORE
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