Good morning, Broadsheet readers! X CEO Linda Yaccarino defends Elon Musk's expletive-filled advertiser comments, Bari Weiss's news site is having a breakout moment, and Williams Sonoma CEO Laura Alber is the longest-serving female CEO in the Fortune 500. Have a restful weekend!
- Staying power. Laura Alber is in the midst of her 28th holiday season at Williams Sonoma, the parent of West Elm, Pottery Barn, and its namesake brand, known for high-quality (and high price point) furniture and home goods. She started at the company as a senior buyer for Pottery Barn in 1995 and says that since then she hasn't interviewed for a single job outside the business. Her 13 years as CEO of the $8.7 billion-in-revenue retailer makes her the longest-serving female chief executive in the Fortune 500.
Staying put has allowed Alber to wade through plenty of challenges, as I explore in a new story in the December/January issue of Fortune. There was the pandemic, which arrived a decade into her tenure. Now there's the housing slowdown. With homeowners locked in by low interest rates, fewer home sales—and fewer moves—eliminates a big occasion for furniture shopping.
Then there's been the retail apocalypse, hitting industry peers like bankrupt Bed Bath & Beyond and DIY retailers Lowe's and Home Depot. Through it all, Williams Sonoma's surging stock has managed to outperform the market. Alber says she stays focused on the present, and what she can control, rather than trying to predict the future. “You can’t wait for a macro trend to improve your business,” she says. “You have to make it happen and look for other opportunities to grow.”
Alber knows a bit about that. Before becoming CEO, she was best known for coming up with the idea for Pottery Barn Kids. Now as CEO, she's exploring new revenue streams like Williams Sonoma's B2B business, which outfits hotels and stadiums; its global expansion; and further integration of AI to help customers design their homes. (Alber also sits on the board of Salesforce.)
While Alber is a respected CEO, what makes her stand out most is her passion for the brands she leads. "It's my heart," is how she describes Williams Sonoma. She advises other rising execs to stick it out through challenges like a bad boss, if they're at the right company. "Oftentimes, you see people pop out the minute something goes wrong,” she says. “Especially if you’re in a company where the product is fantastic and the opportunity is there, it might be worth staying through some of those tribulations."
Read my full story here.
Emma Hinchliffe
emma.hinchliffe@fortune.com
@_emmahinchliffe
The Broadsheet is Fortune's newsletter for and about the world's most powerful women. Today's edition was curated by Joseph Abrams. Subscribe here.
