No one in my family had a retail or marketing background. They were professionals. They didn't understand just what I was doing by going into retailing. After I started, though, it got into my blood. I knew this was what I wanted.

If you feel like it's difficult to change, you will probably have a harder time succeeding.

Talent is the No. 1 priority for a CEO. You think it's about vision and strategy, but you have to get the right people first.

Since I'm a mother and a wife, I have to have passion or the frustration would win out. But I love managing people. The product is second to managing the people. And marketing to consumers is so challenging because it is evolving constantly.

When a woman earns a dollar, the payback is higher. She'll invest in her children, in their education, health care, and basic needs. The impact of a woman's role in the economy benefits society at large.

There are pros and cons of experience. A con is that you can't look at the business with a fresh pair of eyes and as objectively as if you were a new CEO. Fire yourself on a Friday night and come in on Monday morning as if a search firm put you there as a turn-around leader. Can you be objective and make the bold change?

Women are clearly the major consumers in far more than just female categories. It doesn't matter whether it is purchases of cars, cosmetics, or even products for men, female consumption power is the leading consumption power in the world. Any company that overlooks the woman as the decision maker is making a huge mistake.