{"id":498575,"date":"2026-06-18T06:21:18","date_gmt":"2026-06-18T06:21:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/498575\/"},"modified":"2026-06-18T06:21:18","modified_gmt":"2026-06-18T06:21:18","slug":"tiaa-ceo-thasunda-brown-duckett-is-undertaking-a-retirement-revolution-with-1-5t-to-back-it-up","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/498575\/","title":{"rendered":"TIAA CEO Thasunda Brown Duckett is undertaking a retirement revolution\u2014with $1.5T to back it up"},"content":{"rendered":"

Good morning. Fortune Editor-in-Chief Alyson Shontell writing from New York. When Thasunda Brown Duckett got tapped to run Fortune 100 company TIAA, it was the middle of COVID. She didn\u2019t meet with her board in person for over a year, and mission No. 1 was to get the company through the pandemic, one Zoom<\/a> call at a time.<\/p>\n

But beyond that, she had a plan to modernize and expand the retirement behemoth\u2019s offerings via a product dubbed \u201cguaranteed lifetime income,\u201d and five years into her tenure, it\u2019s delivering.<\/p>\n

TIAA has scaled to over $1.5 trillion in assets under management. Last December, it secured a partnership with Vanguard<\/a> to put its lifetime income annuities in front of millions of American workers, expanding TIAA\u2019s reach from its traditional nonprofit institutional market into the much broader 401(k) market.<\/p>\n

\"\"<\/a><\/p>\n

Brown Duckett and I spoke about her CEO playbook on the most recent episode of my podcast, Fortune 500: Titans and Disruptors of Industry, which is out today. We also covered the leadership and life lessons that have helped her succeed at the highest levels in business. A few that stood out:<\/p>\n

Live life like a diversified portfolio. \u201cYou only have 100% [of your time] to offer. You do not have 110%,\u201d she says. \u201cYou have to allocate it to the things that define who you are. I\u2019m a philanthropist, a mother, a sister, an auntie, a wife, an executive. The reality is, my children don\u2019t get 100%\u2014they get 30%, and I have to divide that across three kids.\u201d<\/p>\n

You rent your title and own your character. \u201cYes, I am the CEO of a Fortune 100 company, and I am jealous of me in terms of what I get to do every day,\u201d she says. \u201cBut it is rented. There will come a time when I will no longer be the CEO of TIAA. But I am always Thasunda Brown Duckett.\u201d<\/p>\n

Pursue joy, not happiness. \u201cI try to live a life of joy, not happiness,\u201d Brown Duckett says. \u201cHappiness is a reaction: The kids are happy, I\u2019m happy. Joy comes from within.\u201d<\/p>\n

On leaving JPMorgan and what it\u2019s like to be recruited for a Fortune 100 CEO job. \u201cTiming sometimes is not perfect. But behind the scenes, you get the call from a recruiter. You do not not take the call. You start asking a ton of questions, and then you get to the point where you\u2019re like, \u2018This is something that I can\u2019t pass up,\u2019\u201d Brown Duckett says. \u201cThis was an opportunity to make a different impact. It was an opportunity to run the entire company and make history at the same time.\u201d<\/p>\n

Check out the full conversation with TIAA CEO Thasunda Brown Duckett on Fortune 500: Titans and Disruptors of Industry<\/a>. And if you enjoy it, please leave a review of our podcast on Apple here<\/a>.\u2014Alyson Shontell<\/p>\n

Contact CEO Daily via Diane Brady at diane.brady@fortune.com<\/a><\/p>\n

Top leadership news<\/p>\n

Robinhood job cuts<\/p>\n

Robinhood announced it will cut<\/a> 10% of its workforce as a broader crypto slump drags on trading activity, even as the company reported a $350 million profit and $1.07 billion in revenue in the first quarter. \u201cWe cannot default to operating as a heavily-layered organization,” CEO Vladimir Tenev said in a memo.<\/p>\n

PayPal shuts down venture arm<\/p>\n

PayPal is unwinding<\/a> PayPal Ventures, its 10-year-old corporate venture unit, as new CEO Enrique Lores restructures the fintech firm. Lores has pledged to accelerate AI adoption and deliver at least $1.5 billion in savings over the next two to three years.<\/p>\n

Yum Brands\u2019 Pizza Hut sale<\/p>\n

Yum Brands (No. 474 on the Fortune 500) sold<\/a> Pizza Hut to private equity firm LongRange Capital for about $1.5 billion as the chain continues to fall from its peak in the 1990s. Yum China Holdings (No. 375 on the Fortune 500) will acquire the chain\u2019s mainland China locations in a separate deal worth about $1.2 billion.<\/p>\n

The markets<\/p>\n

S&P 500 futures are up 0.17% this morning. The last session closed down 0.57%. The STOXX Europe 600 was up 0.27% in early trading. The U.K.\u2019s FTSE 100 was down 0.13% in early trading. Japan\u2019s Nikkei 225 was up 0.72%. South Korea\u2019s KOSPI was up 1.58% today. China\u2019s CSI 300 was up 0.97%. Hong Kong\u2019s Hang Seng was down 0.74%. India\u2019s NIFTY 50 was up 0.40%. Bitcoin was down at $65K.<\/p>\n

Around the watercooler<\/p>\n

Filling up your car won\u2019t feel normal until next summer, S&P says<\/a> by Tristan Bove<\/p>\n

\u2018Making China the elephant in the room\u2019: The G7 confronts its reliance on U.S. AI and Chinese energy supply chains, experts say<\/a> by Mia Osmonbekov<\/p>\n

SpaceX just surpassed Amazon\u2019s market cap, overtaking the 31-year-old company on day three of public trading<\/a> by Eva Roytburg<\/p>\n

College students are voting with their feet on AI. Goldman has the receipts<\/a> by Nick Lichtenberg<\/p>\n

Michaels CEO tells young workers to stop daydreaming of success and \u2018get moving, take some action, take some risk\u2019<\/a> by Emma Burleigh<\/p>\n

CEO Daily is curated and edited by Joseph Abrams, Jason Ma, Claire Zillman, and Lee Clifford.<\/p>\n","protected":false},"excerpt":{"rendered":"Good morning. Fortune Editor-in-Chief Alyson Shontell writing from New York. When Thasunda Brown Duckett got tapped to run…\n","protected":false},"author":2,"featured_media":498576,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[114,20967,268,85,46,266,267],"class_list":["post-498575","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-ceo-daily","tag-finance","tag-il","tag-israel","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/498575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=498575"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/498575\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/498576"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=498575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=498575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=498575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}