Breaking this morning: PepsiCo CEO Indra Nooyi is stepping down. She’ll be replaced by PepsiCo executive Ramon Laguarta (Wall Street Journal). The transition will draw attention to the scarcity of women executives in corporate America, according to Bloomberg.
No shortage of news from President Donald Trump’s Twitter account this weekend. Trump tweeted on Sunday morning that the purpose of his son’s meeting in 2016 with a Kremlin-connected lawyer was to get dirt on an opponent, something he claimed is "totally legal and done all the time in politics" (New York Times). Axios called the flip-flop "one of the most striking public reversals in modern political history."
Trump also threw an elbow at LeBron James, insulting the basketball star’s intelligence in a Friday night tweet and saying he prefers Michael Jordan over the current top star in the NBA (ABC News). Jordan rebutted Trump’s statement, praising James’ charitable work (Bleacher Report), as did first lady Melania Trump, who later walked back her statement to say she wasn’t taking sides (New York).
The head of CBS’ entertainment division is defending its corporate culture after allegations of sexual harassment against network boss Les Moonves. At the Television Critics Association summer press tour on Sunday, CBS Entertainment president Kelly Kahl said more than 60% of VP-level executives in the division are female and "a lot of what you see on the air at CBS is because of their efforts" (Vanity Fair).
Purdue University is taking the name of Papa John’s founder John Schnatter off an academic building, formerly known as the John H. Schnatter Center for Economic Research. The college has also offered to return an $8 million donation from Schnatter’s charity (ABC News).