Latest Corporate management News
Philip J. Smith, who led Shubert Organization, dies at 89
NEW YORK (AP) — Philip J. Smith, who rose from box office treasurer at the Imperial Theatre on Broadway to chairman and co-CEO of the theatrical giant Shubert Organization, has died from complications from COVID-19, according to his daughters. He was 89. In a career that spanned 63 years, Smith worked in...
Stocks fall as economic pain deepens, rally runs out of gas
NEW YORK (AP) — Wall Street closed out its first losing week in three with another drop on Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline. The S&P 500 fell 27.29, or 0.7%, to 3,768.25, with stocks of companies that...
Wells Fargo 4Q profit rose 4%, tops Street estimates
SILVER SPRING, Md. (AP) — Wells Fargo had its best quarter of 2020 as its profit rose 4% in the fourth quarter of a year defined by the coronavirus outbreak. The bank, based in San Francisco, said Friday that its earnings rose to $3 billion, or 64 cents per share, compared with earnings of $2.87 billion ,...
Xi asks Starbucks' Schultz to help repair US-China ties
BEIJING (AP) — President Xi Jinping is asking former CEO Howard Schultz of Starbucks to help repair U.S.-Chinese relations that have plunged to their lowest level in decades amid a tariff war and tension over technology and security. A letter from Xi to Schultz reported Friday by the official Xinhua News...
Prosecutors drop securities case against former VW CEO
FRANKFURT, Germany (AP) — German prosecutors have set aside a securities-law case against the former CEO of Volkswagen because he could face heavier penalties in a separate criminal fraud case connected to the company's 2015 diesel emissions scandal. The court in the city of Braunschweig said in a...
Twitter CEO defends Trump ban, warns of dangerous precedent
SAN FRANCISCO (AP) — Twitter CEO Jack Dorsey defended his company’s ban of President Donald Trump in a philosophical Twitter thread that is his first public statement on the subject. When Trump incited his followers to storm the U.S. Capitol last week, then continued to tweet potentially ominous...
Intel replaces its chief executive after a rocky stretch
Intel is replacing its CEO after only two years in what had been a rough stretch for the chipmaker. Bob Swan, who became the company's chief executive in early 2019, will be replaced in mid-February by tech industry veteran Pat Gelsinger. The choice of Gelsinger, who started his career as an Intel engineer...
Ex-Nissan exec says automaker sought to hide Ghosn's pay
TOKYO (AP) — A former Nissan chief operating officer outlined in a Japanese court Tuesday the pains company officials took to hide star executive Carlos Ghosn’s pay, and how they had worried about his quitting for a rival. “Carlos Ghosn is a world-class business leader and CEO,” said...
SAS CEO leaves airline after 10 years at the helm
STOCKHOLM (AP) — The CEO of Scandinavian Airlines, Rickard Gustafson, said Monday he is leaving the company after 10 years at the helm to take up a job with one of Sweden’s largest industrial groups. In a statement, the 56-year-old Swede said: “time has come for me to pass on the baton." It...
Fox News shuffles daytime lineup; CNN makes changes
NEW YORK (AP) — Fox News Channel is shuffling its daytime lineup and adding a new hourlong opinion show at 7 p.m. Eastern to replace that hour's current anchor, Martha MacCallum. Both Fox and CNN announced lineup changes Monday, as is often the case for news organizations with a new president about to take...
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