Latest Corporate management News

Former BMW executive Duesmann named new CEO at rival Audi

Nov. 15, 2019 10:07 AM EST

BERLIN (AP) — German automaker Audi says former BMW executive Markus Duesmann is to become its new chief executive. Audi said Friday that the 50-year-old succeeds current CEO Bram Schot on April 1. Herbert Diess, the head of Volkswagen, of which Audi is a part, called Duesmann an “excellent...

Nation’s largest utility in long-term deals to sell power

Nov. 14, 2019 7:33 PM EST

MEMPHIS, Tenn. (AP) — Most of the local companies that receive power generated by the Tennessee Valley Authority have signed long-term partnership agreements, but some larger customers still have not agreed to the 20-year deals, officials said Thursday. TVA President and CEO Jeff Lyash said during a Board...

Brazil’s major cities lock horns for F1 race after 2020

Nov. 14, 2019 1:09 PM EST

SAO PAULO (AP) — Once a year, racing fans across South America flock to the region’s only Formula One Grand Prix in the Brazilian metropolis of Sao Paulo. But the drizzly hometown of legendary driver Ayrton Senna risks losing that opportunity to shine. This week’s Brazilian GP at Interlagos...

The Latest: New evidence emerges in impeachment hearing

Nov. 13, 2019 10:09 PM EST

WASHINGTON (AP) — The Latest on the House impeachment inquiry of President Donald Trump (all times local): 10 p.m. On Day One of public impeachment hearings, the top American diplomat in Ukraine revealed new evidence that President Donald Trump was overheard asking about political...

Navajo company confident about Wyoming, Montana coal bonding

Nov. 13, 2019 7:14 PM EST

CHEYENNE, Wyo. (AP) — Navajo tribal energy company officials expressed confidence Wednesday they will be able to secure necessary bonding for recently purchased coal mines in Wyoming and Montana without financial backing from the Navajo Nation. The Navajo Transitional Energy Co. has adequate potential...

Alterra plans to buy Sugarbush

Nov. 13, 2019 3:02 PM EST

WARREN, Vt. (AP) — Alterra Mountain Company in Denver says it has entered an agreement to buy Sugarbush Resort in Vermont. The purchase would increase Alterra Mountain’s total year-round mountain destinations to 15 in six states and three Canadian provinces. Alterra’s chief executive officer...

Nike cuts ties with Amazon, but shoes won’t vanish from site

Nov. 13, 2019 12:21 PM EST

NEW YORK (AP) — Nike will stop selling its sneakers and athletic gear directly to Amazon, ending a two-year relationship with the world’s largest online retailer. The announcement was a setback for Amazon, which has been trying to lure big brands to its site. But shoppers may not notice a...

Abbott Labs veteran CEO White to step down next March

Nov. 13, 2019 9:39 AM EST

Abbott Laboratories will replace longtime CEO Miles White with another veteran executive next March. The medical device maker said Wednesday that its board unanimously appointed President and Chief Operating Officer Robert Ford to succeed White as CEO. Ford has been with the company for 23 years. Abbott said...

McDonald's workers say anti-harassment efforts fall short

Nov. 12, 2019 12:23 PM EST

A former McDonald's employee is suing the company and one of its Michigan franchisees over sexual harassment. On Tuesday, Jenna Ries filed a class-action lawsuit against the fast-food chain. She's one of at least 50 workers who have filed separate sexual harassment charges against McDonald's with the U.S. Equal...

Leader of food security nonprofits to head World Food Prize

Nov. 12, 2019 11:35 AM EST

DES MOINES, Iowa (AP) — The foundation that awards the World Food Prize to individuals who work to improve food security in hopes of ending world hunger announced Tuesday that its new president will be a woman who has led nonprofit organizations focused on global food security, food safety and the impact...