The JUST Report: Welcome Dan Schulman!

Big news in the JUST world. After a decade in the seat, our Co-Founder and inspiration Paul Tudor Jones II is stepping down as board chair and handing the baton to one of corporate America’s most respected business leaders, former PayPal CEO Dan Schulman. 

Paul, who will remain an active board member, puts it perfectly: “Dan’s track record of leadership at some of the largest U.S. companies makes him the perfect person to carry JUST Capital forward as chair.” Having worked with JUST during his 10-year tenure at PayPal (on our Worker Financial Wellness Initiative), Dan is no stranger to the organization. Indeed, his interview on CNBC’s Squawkbox with Paul in the fall of 2019 stands out to me as one of the most important moments in the organization’s history. 

The move comes at an important moment for America and the world. In a period of deep and seemingly endless political division, business has a unique opportunity to lead, to bring people and ideas together, and to champion the things Americans really care about: their hopes, their dreams, their futures. Companies that do this well, as our data shows, will achieve success in many ways, financial and otherwise. CEOs that do this well – as Dan has demonstrated – will cement their legacy for years to come.  

I hope the prospect of Dan, Paul, and the rest of our board working together in service of this ideal fills you with as much excitement as it does me. 

Read the full announcement of Dan’s appointment. 

Be well, 

Martin      

Quote of the Week

“Paul Tudor Jones II’s vision when he co-founded JUST Capital ten years ago is an inspiration to us all. Under his leadership, JUST Capital has changed the conversation about how business in America is done. The role of JUST Capital is becoming ever more important in today’s world. I look forward to partnering with Paul and the rest of the board to help guide the kind of corporate leadership that the world so urgently needs.”

• Dan Schulman, chairman of the board of JUST Capital 

JUST AI

The Atlantic expresses skepticism over Microsoft’s claims that AI can enrich fossil fuel companies AND help fight climate changes, in addition to other paradoxes. 

Must Reads

ESGDive reveals that the SEC has sunset its climate and ESG enforcement task force. More info on the implications here. 

A Forbes piece looks at the problems with “no taxes on tips” and “no taxes on overtime hours” policies put forth by this year’s Presidential campaigns. 

USA Today reports that grocery chain Aldi is increasing its minimum wage to $18 and $23 an hour for in-store workers and warehouse workers, respectively, in anticipation of hiring 13,000 additional workers this holiday season. Meanwhile, Amazon is increasing pay for hourly workers to $22 an hour. 

Reuters reports on the ongoing Boeing strike – where 30,000 workers voted down their latest contract – and how long the strike could last given existing instability at the company. 

Instagram announced changes to help curb inappropriate contact and content to users under 18, as well as features to make the app less addictive to teens. The New York Times has the story. 

Chart of the Week

This chart comes from a piece of analysis from Axios that shows the gender wage gap increased for the first time in 20 years. Explore why.