There are 27 companies in the S&P 500 that have a woman CEO - just 1 of those companies have any of the three common takeover defenses in place - including staggered boards, poison pills or unequal voting rights. Now, an even bigger question, is it that activists are targeting women-led companies or is it that activists are really just target underperforming companies? With Carl Icahn's targeting of Xerox , it's official, activist investors are out to get female CEOs.