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Meet LaFawn Davis: A C-suite executive at Indeed who dropped out of college and proved you don’t need a degree to land a top job

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When LaFawn Davis was growing up, she didn’t dream of becoming an astronaut, a doctor, or a teacher…she dreamed of becoming the CEO of seven companies, at once.

This ambition inspired a strong work ethic, one that propelled Davis into the workforce at 14, when she took her first job at a Black-owned flower shop in her hometown of San Jose, California. And once she started working, she never stopped.

Despite her strong work ethic, Davis—who landed her current job as Indeed’s chief people and sustainability officer in May 2024—told HR Brew that her career hasn’t always been smooth, in part because she didn’t have a bachelor’s degree.

“I was told that because I didn’t have a college degree, there were certain roles I couldn’t go for. I was a believer that, regardless of what the job description says, if I felt like I could do it, I would go for it anyway,” Davis told HR Brew.

But she isn’t the only HR pro without a bachelor’s degree. Just 31% of people pros in the US have achieved that level of education, according to an HR Brew/Harris Poll survey conducted in September. Some 12% have an associate’s degree, while 30% have a high school diploma and 8% have less. Meanwhile, 18% have a graduate degree.

Davis shared with HR Brew how she climbed the corporate ladder without a four-year college degree.

Career journey. After graduating high school, Davis enrolled at San José State University. But she said she found herself skipping classes to go to work and decided to drop out and join corporate America. She worked in operational roles at startups during the dotcom era, but when that bubble burst in 2000, she lost her job. And without a bachelor’s degree, Davis said she was turned away from new opportunities.

So at 22, with a newborn to care for, she made the difficult decision to move home with her parents. But she was still determined to rejoin the corporate workforce and fulfill her childhood dream of becoming an executive.

During those post-dotcom years, Davis said she leaned heavily on her network of corporate contacts, who helped her find work as a claims adjustor, executive assistant, and chief of staff. Each role taught her a new admin or people skill. Then, in 2005, she got her big break—she was hired as a program specialist at Google, where she would work for eight years, ending her tenure as its HR business partner for diversity and inclusion.

“I really focus[ed] on a lot of HR programs and initiatives and how diversity, equity, inclusion can be woven throughout the whole process of the employee life cycle,” she said. “I really loved it, and I thought I found what my career path was going to be, as opposed to a job. I felt like I was actually embarking upon a career.”

After Google, Davis said she played a game of “tech company roulette,” moving between employee experience and DEI roles at firms including Yahoo!, eBay, and Paypal. In 2019, nearly 15 years into her HR career, she landed at Indeed as a VP of diversity, inclusion, and belonging.

Skills-first is the future. Davis said she was lucky to have had so many opportunities to break into corporate America without a bachelor’s degree, and wishes the skills-based hiring her employers practiced were more common.

“The skills-first movement is not anti-college degree at all…It is more that a college degree is just not the only route to gaining skills, and helping both people and companies understand what it means to hire for skills,” she said.

Davis said she used to be “ashamed” that she didn’t have a four-year college degree. Nowadays, she enjoys sharing her story, and uses it to inform her work at Indeed, where she strives to make the application process easier for candidates by encouraging companies to adopt a skills-first approach.

“One of the things that I said when I came into Indeed was, ‘We need to drink our own champagne…Whatever we’re going to ask other companies to do, we need to do it ourselves,” she said, adding that Indeed dropped college-degree requirements from its corporate job postings in 2022, and calls itself a fair chance employer.

“I won’t be the CEO of seven consecutive companies at the same time,” she said, but “becoming part of the C-suite, knowing along the journey that I don’t have a college degree, has been a great space of inspiration for others to know they could do the same.”

This report was written by Mikaela Cohen and was originally published by HR Brew.

This story was originally featured on Fortune.com



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Meet the 3 CFOs who made Fortune’s new Next to Lead list

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Good morning. What does it take to ascend to executive leadership roles at America’s largest corporations? The inaugural Fortune Next to Lead: The 25 Most Powerful Rising Executives in the Fortune 500, released this morning, highlights high-performing trailblazers.

Top leaders at Fortune 500 companies in roles such as CEO, CFO, COO, president, and executive vice president representing industries including tech, retail, health care, and energy have earned a spot on the list. Fortune evaluated candidates through in-depth reporting and insights from executive search firms, recruiters, management consulting firms, current and former CEOs, and board members. 

Among the factors of assessment are leaders that drive exceptional financial outcomes, including revenue growth, profitability, or increased market share. That’s certainly something CFOs know a lot about. 

Here are the three finance chiefs at Fortune 500 companies who earned a spot on the list:

Eimear Bonner, VP and CFO at Chevron 

At Chevron Corp., Eimear Bonner is responsible for global audit and investor relations, as well as tax, treasury, and financial operations. Since joining the company in 1998, she has held several key leadership roles, including general director of Tengizchevroil LLP in Kazakhstan and chief technology officer, a position in which Bonner made history at Chevron as its first woman CTO.

Rejji Hayes, EVP and CFO at CMS Energy

Rejji Hayes has held the role of EVP and CFO at CMS Energy and its principal subsidiary, Consumers Energy, since 2017. Previously, he served as EVP and CFO of ITC Holdings Corp., where he co-led the strategic review that resulted in the company’s sale to Fortis. During his tenure, ITC’s market capitalization grew by approximately $2.3 billion. Hayes serves on the board of Fortive, chairing the audit committee.

Gina Mastantuono, CFO at ServiceNow 

As CFO, Gina Mastantuono leads accounting, investor relations, real estate, and global impact strategy at the workflow automation platform. She was previously EVP and CFO at Ingram Micro, an IT products and services company, and has held senior roles at Revlon. Mastantuono sits on the board of Roblox.

You can view the complete Fortune Next to Lead: The 25 Most Powerful Rising Executives in the Fortune 500 here. In addition, you can sign up for the Fortune Next to Lead weekly newsletter by Ruth Umoh, which offers a look into the careers of rising stars of the corporate world.

Sheryl Estrada
sheryl.estrada@fortune.com

This story was originally featured on Fortune.com



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South Koreans will soon vote for a new president, after courts uphold Yoon Suk Yeol’s impeachment for his martial law disaster

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South Korea’s Constitutional Court on Friday upheld President Yoon Suk Yeol’s impeachment over his disastrous martial law declaration, voting unanimously to strip him of office for violating the constitution.

Yoon, 64, was suspended by lawmakers over his Dec. 3 attempt to subvert civilian rule, which saw armed soldiers deployed to parliament. He was also arrested on insurrection charges as part of a separate criminal case.

His removal triggers fresh presidential elections, which must be held within 60 days.

“Given the serious negative impact and far-reaching consequences of the respondent’s constitutional violations… (We) dismiss respondent President Yoon Suk Yeol,” said acting court President Moon Hyung-bae.

The decision was unanimous by all eight of the court’s judges, who have been given additional security protection by police with tensions high and pro-Yoon supporters rallying in the streets.

Yoon’s actions “violate the core principles of the rule of law and democratic governance, thereby undermining the constitutional order itself and posing a grave threat to the stability of the democratic republic,” the judges said in their ruling.

Yoon’s decision to send armed soldiers to parliament in a bid to prevent lawmakers from voting down his decree “violated the political neutrality of the armed forces and the duty of supreme command.”

He deployed troops for “political purposes”, the judges said, which “caused soldiers who had served the country with the mission of ensuring national security and defending the country to confront ordinary citizens.”

“In the end, the respondent’s unconstitutional and illegal acts are a betrayal of the people’s trust and constitute a serious violation of the law that cannot be tolerated from the perspective of protecting the Constitution,” the judges ruled.

Impeached

Yoon is the second South Korean leader to be impeached by the court after Park Geun-hye in 2017.

After weeks of tense hearings, judges spent more than a month deliberating the case, all while public unrest swelled.

Police raised the alert to the highest possible level Friday, enabling the deployment of their entire force. Officers encircled the courthouse with a ring of vehicles and stationed special operations teams in the vicinity.

Anti-Yoon protesters cried, cheered and screamed as the verdict was announced. Some jumped and shook each other’s hands in joy, while others hugged people and cried.

Outside Yoon’s residence, his supporters shouted and swore, with some bursting into tears as the verdict was announced.

Yoon, who defended his attempt to subvert civilian rule as necessary to root out “anti-state forces”, still commands the backing of extreme supporters.

At least two staunch Yoon supporters—one in his 70s and the other in his 50s—have died after self-immolating in protest of the controversial leader’s impeachment.

Embassies—including the American, French, Russian and Chinese—have warned citizens to avoid mass gatherings in connection with Friday’s verdict.

The decision shows “first and foremost the resilience of South Korean democracy,” Byunghwan Son, professor at George Mason University, told AFP.

“The very fact that the system did not collapse suggests that the Korean democracy can survive even the worst challenge against it—a coup attempt.”

‘Highly unlikely’ to reinstate

South Korea has spent the four months since Yoon declared martial law without an effective head of state, as the opposition impeached Yoon’s stand-in—only for him to be later reinstated by a court ruling.

The leadership vacuum came during a series of crises and headwinds, including an aviation disaster and the deadliest wildfires in the country’s history.

This week, South Korea was slammed with 25 percent tariffs on exports to key ally the United States after President Donald Trump unveiled global, so-called reciprocal levies.

Since December, South Korea has been “partially paralysed—it has been without a legitimate president and has been challenged by natural disasters and the political disaster called Trump,” Vladimir Tikhonov, Korean Studies professor at the University of Oslo, told AFP.

Yoon also faces a separate criminal trial on charges of insurrection over the martial law bid.

This story was originally featured on Fortune.com



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Stocks take a brutal slide after the Fed signals fewer rate cuts ahead

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U.S. stocks tumbled to one of their worst days of the year after the Federal Reserve hinted Wednesday it may deliver fewer shots of adrenaline for the U.S. economy in 2025 than earlier thought.

The S&P 500 fell 2.9%, just shy of its biggest loss for the year, to pull further from its all-time high set a couple weeks ago. The Dow Jones Industrial Average lost 1,123 points, or 2.6%, and the Nasdaq composite dropped 3.6%.

The Fed said Wednesday it’s cutting its main interest rate for a third time this year, continuing the sharp turnaround begun in September when it started lowering rates from a two-decade high to support the job market. Wall Street loves easier interest rates, but that cut was already widely expected.

The bigger question centers on how much more the Fed will cut next year. A lot is riding on it, particularly after expectations for a series of cuts in 2025 helped the U.S. stock market set an all-time high 57 times so far in 2024.

Fed officials released projections on Wednesday showing the median expectation among them is for two more cuts to the federal funds rate in 2025, or half a percentage point’s worth. That’s down from the four cuts expected just three months ago.

“We are in a new phase of the process,” Fed Chair Jerome Powell said. The central bank has already quickly eased its main interest rate by a full percentage point to a range of 4.25% to 4.50% since September.

Asked why Fed officials are looking to slow their cuts, Powell pointed to how the job market looks to be performing well overall and how recent inflation readings have picked up. He also cited uncertainties that will require policy makers to react to upcoming, to-be-determined changes in the economy.

While lower rates can goose the economy by making it cheaper to borrow and boosting prices for investments, they can also offer more fuel for inflation.

Powell said some Fed officials, but not all, are also already trying to incorporate uncertainties inherent in a new administration coming into the White House. Worries are rising on Wall Street that President-elect Donald Trump’s preference for tariffs and other policies could further juice inflation, along with economic growth.

“When the path is uncertain, you go a little slower,” Powell said. It’s “not unlike driving on a foggy night or walking into a dark room full of furniture. You just slow down.”

One official, Cleveland Fed President Beth Hammack, thought the central bank should not have even cut rates this time around. She was the lone vote against Wednesday’s rate cut.

The reduced expectations for 2025 rate cuts sent Treasury yields rising in the bond market, squeezing the stock market.

The yield on the 10-year Treasury rose to 4.51% from 4.40% late Tuesday, which is a notable move for the bond market. The two-year yield, which more closely tracks expectations for Fed action, climbed to 4.35% from 4.25%.

On Wall Street, stocks of companies that can feel the most pressure from higher interest rates fell to some of the worst losses.

Stocks of smaller companies did particularly poorly, for example. Many need to borrow to fuel their growth, meaning they can feel more pain when having to pay higher interest rates for loans. The Russell 2000 index of small-cap stocks tumbled 4.4%.

Elsewhere on Wall Street, General Mills dropped 3.1% despite reporting a stronger profit for the latest quarter than expected. The maker of Progresso soups and Cheerios said it will increase its investments in brands to help them grow, which pushed it to cut its forecast for profit this fiscal year.

Nvidia, the superstar stock responsible for a chunk of Wall Street’s rally to records in recent years, fell 1.1% to extend its weekslong funk. It has dropped more than 13% from its record set last month and fallen in nine of the last 10 days as its big momentum slows.

On the winning end of Wall Street, Jabil jumped 7.3% to help lead the market after reporting stronger profit and revenue for the latest quarter than analysts expected. The electronics company also raised its forecast for revenue for its full fiscal year.

All told, the S&P 500 fell 178.45 points to 5,872.16. The Dow Jones Industrial Average dropped 1,123.03 to 42,326.87, and the Nasdaq composite skidded 716.37 to 19,392.69.

In stock markets abroad, London’s FTSE 100 edged up by less than 0.1% after data showed inflation accelerated to 2.6% in November, its highest level in eight months. The Bank of England is also meeting on interest rates this week and will announce its decision on Thursday.

In Japan, where the Bank of Japan will wrap up its own policy meeting on Friday, the Nikkei 225 slipped 0.7%. That was despite a 23.7% jump for Nissan Motor Corp., which said it was in talks on closer collaboration with Honda Motor Co., though no decision had been made on a possible merger. Honda Motor’s stock lost 3%.

Nissan, Honda and Nissan alliance member Mitsubishi Motors Corp. agreed in August to share components for electric vehicles like batteries and to jointly research software for autonomous driving to adapt better to dramatic changes in the auto industry.

This story was originally featured on Fortune.com



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