Latest Board of directors News

Tesla seeks dismissal of suit challenging Musk pay package

May. 9, 2019 6:49 PM EDT

DOVER, Del. (AP) — Attorneys for Tesla Inc. asked a Delaware judge Thursday to dismiss shareholders' complaints over a compensation plan that could net CEO Elon Musk more than $50 billion over the next decade. A shareholder lawsuit filed last June alleges that Musk and Tesla's board of directors breached...

The Latest: LaPierre says he's "humbled" by board action

Apr. 29, 2019 8:49 PM EDT

INDIANAPOLIS (AP) — The Latest on the turmoil in the top ranks of the National Rifle Association(all times local): 8:30 p.m. Wayne LaPierre, the longtime head of the National Rifle Association, said Monday he's "humbled" by actions by the board Monday that kept him on as its CEO. He beat back calls the...

Kraft Heinz CEO stepping down, Patricio named successor

Apr. 22, 2019 12:18 PM EDT

PITTSBURGH (AP) — Kraft Heinz Co. has named a new CEO as it struggles to remain relevant amid changing American tastes. The company said Monday that Miguel Patricio, a longtime executive at Anheuser-Busch InBev, will replace outgoing CEO Bernardo Hees in July. Patricio, a native of Portugal, served as...

Tesla wants to cut size of board from 11 directors to 7

Apr. 20, 2019 1:43 PM EDT

PALO ALTO, Calif. (AP) — Tesla plans to cut its board of directors from 11 to seven in a move the electric-car maker says will allow the board to act more nimbly and efficiently. Tesla says the four directors who will depart aren't leaving because of any disagreement with the company. The board has come...

CEO of Swiss engineering firm ABB steps down amid overhaul

Apr. 17, 2019 12:43 PM EDT

BERLIN (AP) — The chief executive of ABB is stepping down as the Swiss engineering company undergoes a major overhaul. The company said Wednesday that Ulrich Spiesshofer had agreed with the board of directors to relinquish with immediate effect the role he's held since 2013. Board chairman Peter Voser, a...

Best Buy names new CEO as Hubert Joly steps down

Apr. 15, 2019 1:47 PM EDT

NEW YORK (AP) — The executive credited with reviving a struggling Best Buy is stepping aside. Hubert Joly, 59, is handing leadership of the reinvigorated electronics retailer to longtime executive Corie Barry, 43, as part of the company's succession plan effective June 11. Barry, who is currently the...

Facebook names PayPal exec to board; Netflix CEO leaving

Apr. 12, 2019 6:00 PM EDT

SAN FRANCISCO (AP) — Facebook is nominating to its board of directors a PayPal executive who recently served as finance chief of the charitable organization run by CEO Mark Zuckerberg and his wife Priscilla Chan. Peggy Alford would be the first African American woman to serve on Facebook's board. Her...

California governor criticizes PG&E's plan for new board

Mar. 28, 2019 7:29 PM EDT

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom said Thursday that Pacific Gas & Electric Corp. plans to remake its board of directors with hedge fund financiers and people who have little experience in utility operations and safety, and he urged the utility's leader to change course. "With this...

The Latest: Utility shares few details on new board plans

Mar. 28, 2019 5:27 PM EDT

SACRAMENTO, Calif. (AP) — The Latest on Pacific Gas & Electric Corp.'s board restructuring (all times local): 2:15 p.m. A Pacific Gas & Electric spokeswoman has declined to address whether the utility is planning to replace its board with hedge fund financiers and people without utility expertise....

Papa John's scores Shaq to help revive its image

Mar. 22, 2019 5:26 PM EDT

NEW YORK (AP) — Papa John's is getting "Shaq-ified." The pizza chain said Friday that basketball Hall of Famer Shaquille O'Neal will be its new pitchman, appearing in TV commercials and promoting Papa John's in other ways. The company hopes O'Neal can repair its image and revive its sales after the...