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PepsiCo CEO Indra Nooyi at the White House in February. Photo: Evan Vucci / AP

The entrance of millennials into the workforce has forced corporate leaders to "weave purpose into the core business [models]" of their companies, according to Indra Nooyi, PepsiCo's chairperson and CEO, at TIME and Fortune's CEO Initiative.

More from the panel discussion:

  • Mark Bertolini, Aetna's CEO, outlined how corporations want to lead in 2017: "We have a responsibility to have a point of view beyond our four walls…Our responsibility to lead is at a local level — everywhere we are."
  • Bertolini argued that the U.S. must retool capitalism: "We have a model today that works for too few people…There's a loss of hope in our nation around who we are and what our opportunities are — and that's because we haven't brought people along with our recovery."
  • One big problem: Nooyi thinks that climate change will only be definitively proven once it's too late to act, so she wants her company to think ahead: "From our perspective, we see evidence of changes in the environment affecting our business…We have to lean in and do things on the environmental front."

Go deeper

U.S. grants temporary protected status to thousands of Venezuelans

Venezuelan citizens participate in the vote for the popular consultation in December 2020, as part of a protest against Venezuelan President Nicolás Maduro in Doral, Florida. Photo: Chandan Khanna/AFP

Venezuelans living in the United States will be eligible to receive temporary protected status for 18 months, the Department of Homeland Security announced Monday.

Why it matters: Tens of thousands of Venezuelans have fled to the U.S. amid economic, political and social turmoil back home. Former President Trump, on his last full day in office, granted some protections to Venezuelans through the U.S. Deferred Enforced Departure program, but advocates and lawmakers said the move didn't go far enough.

"She-cession" threatens economic recovery

Illustration: Sarah Grillo

Decades of the slow economic progress women made catching up to men evaporated in just one year.

Why it matters: As quickly as those gains were erased, it could take much, much longer for them to return — a warning Treasury Secretary Janet Yellen issued today.

The Week America Changed

Sandberg thought Zuckerberg was "nuts" on remote work in January 2020

Photo illustration: Sarah Grillo/Axios. Photo: Paul Marotta/Getty Image

Chief operating officer Sheryl Sandberg thought Mark Zuckerberg was "nuts" when he raised the possibility in January 2020 that 50,000 Facebook employees might have to work from home. By March 6, they were.

Why it matters: In an interview Monday with Axios Re:Cap, Sandberg explained how Facebook moved quickly to respond to the pandemic with grants for small businesses and work-from-home stipends for its employees, and how the company has been watching the unfolding crisis for women in the workforce.