Latest Corporate management News

Adidas is investigating allegations of embezzlement and bribery in China, according to news reports

Jun. 18, 2024 11:51 AM EDT

HONG KONG (AP) — Athletic apparel company Adidas has launched an investigation into allegations of “compliance violations” in China after receiving an anonymous letter earlier this month accusing local executives of embezzling “millions of euros,” according to news reports. ...

Gamestop shares slump following annual shareholder meeting

Jun. 17, 2024 13:44 PM EDT

NEW YORK (AP) — Gamestop's CEO Ryan Cohen said the struggling video game retailer will focus on cutting costs and long-term profitability in an annual shareholder meeting Monday. Cohen added this would involve a “smaller network of stores” — suggesting that more store...

Executives of telehealth company accused of fraud that gave easy access to addictive Adderall drug

Jun. 13, 2024 20:16 PM EDT

LOS ANGELES (AP) — Top executives of a California-based online mental health company were arrested on allegations of improperly prescribing addictive stimulants like Adderall during the coronavirus pandemic and exacerbating the shortage of the drugs for those who medically need them, officials...

Gamestop's annual shareholder meeting disrupted after 'unprecedented demand' causes tech issue

Jun. 13, 2024 14:24 PM EDT

NEW YORK (AP) — Gamestop's highly-anticipated shareholder meeting ran into a technical problem Thursday — resulting in many eager investors being unable to log on to the livestream. A spokesperson for Computershare, the company hosting the webcast, confirmed that “unprecedented...

Former executive of Mississippi Lottery Corporation is sentenced for embezzlement

Jun. 13, 2024 13:48 PM EDT

BRANDON, Miss. (AP) — A former vice president of the Mississippi Lottery Corporation has been sentenced to five years of house arrest after she pleaded guilty to embezzlement for giving herself unauthorized pay raises, the state auditor said Thursday. Hope Bishop was in charge of...

Ozy Media went from buzzy to belly-up. Its founder, Carlos Watson, is now on trial

Jun. 13, 2024 12:00 PM EDT

NEW YORK (AP) — For nearly a decade, Ozy Media projected an image of new-media success. The company boasted big-name interviews, an Emmy-winning TV show, a buzzy music and ideas festival and impressive numbers to show prospective investors — until it imploded in 2021 amid doubts...

Southwest Airlines CEO says he won't resign. A hedge fund is trying to get him fired

Jun. 12, 2024 15:23 PM EDT

DALLAS (AP) — The CEO of Southwest Airlines said Wednesday he will not resign in the face of pressure from a hedge fund that wants him fired and that his leadership team will produce its own plan to boost the airline's financial performance. CEO Robert Jordan said Southwest will...

An investment firm has taken a $1.9 billion stake in Southwest Airlines and wants to oust the CEO

Jun. 10, 2024 16:38 PM EDT

DALLAS (AP) — Activist shareholder Elliott Investment Management has bought a $1.9 billion stake in Southwest Airlines and is seeking to force out the CEO of the airline, which has struggled with operational and financial problems. Shares in the airline rose 7% Monday, their...

NBA G League executive Portia Archer to take over as WTA CEO under restructuring

Jun. 05, 2024 12:13 PM EDT

ST. PETERSBURG, Fla. (AP) — NBA G League executive Portia Archer will take over as the CEO of the WTA Tour under a leadership restructuring at the women’s tennis circuit. The WTA said Archer will start in late July. The tour said current Chairman and CEO Steve...

CEOs got hefty pay raises in 2023, widening the gap with the workers they oversee

Jun. 04, 2024 15:10 PM EDT

NEW YORK (AP) — The typical compensation package for chief executives who run companies in the S&P 500 jumped nearly 13% last year, easily surpassing the gains for workers at a time when inflation was putting considerable pressure on Americans' budgets. The median pay package...