Latest Corporate management News
Luciano Benetton says he's stepping down as chairman of family-run brand as losses top $100 million
MILAN (AP) — Luciano Benetton, a co-founder of the apparel brand, announced he was stepping down as chairman in an interview published on Saturday with Milan daily Corriere della Sera. He blamed current management for losses of 100 million euros ($108.5 million) that he discovered last year. ...
CorVel: Fiscal Q4 Earnings Snapshot
FORT WORTH, Texas (AP) — FORT WORTH, Texas (AP) — CorVel Corp. (CRVL) on Wednesday reported profit of $19.5 million in its fiscal fourth quarter. The Fort Worth, Texas-based company said it had net income of $1.12 per share. The health care management company...
Bruce Nordstrom, who helped grow family-led department store chain, dies at 90
SEATTLE (AP) — Bruce Nordstrom, a retail executive who helped expand his family's Pacific Northwest department store chain into an upscale national brand, has died. Seattle-based Nordstrom Inc. said its former chairman died at his home on Saturday. He was 90. ...
China sanctions Boeing, two U.S. defense contractors for Taiwan arms sales
BEIJING (AP) — China's Ministry of Commerce announced sanctions against Boeing and two other defense companies Monday for arms sales to Taiwan, on the day of Taiwan's presidential inauguration. The move is the latest in a series of sanctions Beijing has announced in recent years...
McDonald's plans $5 US meal deal next month to counter customer frustration over high prices
McDonald’s plans to introduce a $5 meal deal in the U.S. next month to counter slowing sales and customers’ frustration with high prices. The deal would let customers get a four-piece McNugget, small fries, a small drink and either a McDouble burger or a McChicken sandwich for $5...
Tom McMillen, head of the FBS athletic directors' organization LEAD1, announces he's stepping down
WASHINGTON (AP) — Tom McMillen, president and CEO of the association representing athletic directors of Football Bowl Subdivision schools, announced Thursday he would step down this fall to pursue other opportunities. McMillen, who has led LEAD1 for eight-plus years, said he would...
Port of New Orleans' chief resigning amid praise for moves to advance new cargo terminal project
NEW ORLEANS (AP) — The Port of New Orleans' president and chief executive officer, who won praise for advancing plans for a new international cargo terminal project, is resigning to pursue an opportunity in the private sector. Brandy Christian, who has served in the leadership...
CEO of Brazil’s oil and gas giant Petrobras steps down following dustup over dividends
RIO DE JANEIRO (AP) — The head of Brazil’s state-controlled oil and gas giant Petrobras has stepped down, the company said Wednesday, following months of tensions with the federal government. Petrobras opted not to pay extraordinary dividends to its shareholders earlier this...
Seattle Times publisher Frank Blethen to step down after 4 decades in charge of family-owned paper
SEATTLE (AP) — Seattle Times publisher and CEO Frank Blethen has announced he will step down at the end of next year after four decades leading the newspaper his family has owned since 1896. Blethen, 79, confirmed his plans Monday in a Seattle Times interview. He said he expects to...
Chicago mayor's bumpy first year tests progressive credentials, puzzling some supporters
CHICAGO (AP) — When union organizer Brandon Johnson was elected Chicago mayor last year, he promised to unroll a “bold progressive movement” in the nation’s third-largest city. A year later, he shocked liberal Democrats by promoting plans for a multibillion dollar Bears stadium using public...
