Reese earned another important accolade today – she was named on Fortune magazine’s Most Powerful Women list. Fortune’s Most Powerful Women list is a ranking that is put out every year looking at the 50 most powerful women in business. Four criteria are considered: the size and importance of the business, the direction of the business, the social and cultural relevance, and the trajectory of the woman’s career. Reese was not eligible for the main 50, but was featured as their special ‘number 51’ – read more below, and see the full list here:
Fortune’s Most Powerful Women
It’s MPW day. It’s a big day for us here at Fortune MPW HQ: The 2017 list of the Most Powerful Women in Business is out!
Racing into the top spot—for the third year in a row—is General Motors CEO Mary Barra. Rounding out the top 5: PepsiCo CEO Indra Nooyi (more on her later), Lockheed Martin CEO Marillyn Hewson, Fidelity CEO Abigail Johnson, and Facebook COO Sheryl Sandberg.
In all, the list includes seven newbies, one return, and 26 CEOs who, together, control a total market cap of $1.1 trillion. We have all the juicy details—including who’s off, who’s on, and who’s on our radar—below.
But before we get to that, it’s worth pointing out that this year marks Fortune’s 20th list, a testament to the importance we place on charting and celebrating these women’s careers. For more, I encourage you to read this editor’s letter, in which our fearless leader, Cliff Leaf, reflects on the history—and continuing necessity—of the ranking. As my co-editor on the list, Beth Kowitt, tells Cliff, covering the ever-evolving story of women in business is “complicated—and critically important, surprising, fascinating, and inspiring too.”
MORE FROM THE MPW ISSUE
• New women on the block. While the MPW list always includes women from a diverse range of businesses, this year’s newcomers have raised the bar: all seven hail from different industries. From energy (PG&E CEO Geisha Williams) to toys (Mattel CEO Margo Georgiadis) to retail (Ulta Beauty CEO Mary Dillion), they provide a peek into the diversity of global business today.
• MPWs in waiting. While these 10 women didn’t make the official list, they did catch our eye. We wouldn’t be surprised to see many of them grace the top 50 ranking in years to come…
• She’s No. 51, y’all. We have a tradition of naming a “bonus” MPW—No. 51—a distinction that goes to a woman who doesn’t technically fit our parameters when it comes to P&L and market cap, but who nevertheless captures the list’s powerful, business-savvy spirit. This year that spot goes to Hollywood multihyphenate Reese Witherspoon. For those keeping score at home, Witherspoon has launched a lifestyle startup as well as a multi-platform content company; and produced hits including Gone Girl, Wild, and Emmy fav Big Little Lies—all while still landing big, juicy acting roles for herself.
Why Reese Witherspoon Is on Fortune’s 2017 List of the Most Powerful Women
Reese Witherspoon is on a tear, y’all.
First the actress launched her production company, Pacific Standard, which went on to pump out hits like Gone Girl, Wild, and Big Little Lies.
Next up: Draper James, her Southern-oriented lifestyle brand, which debuted in 2015 and has garnered backing from VC heavy hitters such as Forerunner Ventures founder Kirsten Green, who also sits on the company’s board. The retail startup now has stand-alone stores in Nashville; Dallas; and Lexington, Ky.; and just struck a deal to sell its wares in select Nordstroms.
Now she’s partnering with Otter Media, a joint venture between AT&T and the Chernin Group, on Hello Sunshine, a content company that includes Pacific Standard and creates everything from digital and social shorts to TV shows to films. The company, which extended its development deal with ABC Studios earlier this year, has a host of projects in the works.
Between her ever-expanding business empire and her emergence as an advocate for telling women’s stories, Witherspoon is a perfect bonus pick Fortune’s 2017 list of the Most Powerful Women in Business.