Latest Corporate management News
REI: Stores stay shut, workers furloughed, no pay for CEO
SEATTLE (AP) — REI said Monday it would keep its 162 retail locations closed and furlough some of its roughly 14,000 employees without pay for 90 days as the COVID-19 pandemic continues to halt much of the retail industry. CEO Eric Artz, who announced the decision in a blog post, said he and the Kent-based...
Lost Time: How coronavirus spread while supply orders lagged
The government’s stockpile of critically needed medical supplies and equipment is nearly drained just as the numbers of people infected with the coronavirus and in need of critical care is surging. Back in January, the first alarms were sounding about the outbreak in China. In time, it would become a...
SeaWorld CEO resigns five months into job, cites board
ORLANDO, Fla. (AP) — SeaWorld Entertainment's chief executive has resigned only five months into his job, becoming the third leader of the theme park company to depart in just over two years, according to a company filing released Monday. Sergio Rivera cited his disagreement with the board of directors'...
AP Source: MLS cutting pay of top executives, some staff
Major League Soccer plans to cut the pay of some executives and front office personnel while the season is on hold because of the coronavirus pandemic, a person with knowledge of the situation told The Associated Press on Wednesday. MLS Commissioner Don Garber and Deputy Commissioners Mark Abbott and Gary...
WarnerMedia names former Hulu chief Jason Kilar CEO
NEW YORK (AP) — Jason Kilar, the founding chief executive of Hulu and a former Amazon senior vice president, has been named CEO of WarnerMedia, the company announced Wednesday. Kilar takes the reins of one of Hollywood's largest film and television factories, putting in him charge of the Warner Bros....
Facebook joins resistance to Bolsonaro virus claims
SAO PAULO (AP) — Major social media companies are taking aim at Brazilian President Jair Bolsonaro's dismissal of social distancing, joining others in the country who have lined up against his controversial stance regarding the new coronavirus. Facebook and Instagram removed posts by the far-right leader...
Regulators mull reversing $462M increase in PG&E fire fines
BERKELEY, Calif. (AP) — California power regulators are weighing a recommendation to back off plans to fine Pacific Gas and Electric an additional $462 million over a series of deadly Northern California wildfires rather than risk that the harsher punishment might scuttle the utility's plan to get out of...
Wall Street executive dies from coronavirus complications
NEW YORK (AP) — The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments this weekend related to the global economy, the work place and the spread of the virus. ______ WALL STREET EXECUTIVE DIES: An executive at New York-based investment...
Rosneft hands Venezuelan oil business to Russian state firm
MOSCOW (AP) — Russia's Rosneft has transferred its assets in Venezuela to a company fully owned by Vladimir Putin's government, a move apparently intended to shield Russia's largest oil producer from U.S. sanctions while Moscow continues showing support for Venezuelan President Nicolás Maduro in the...
The Latest: UN says 86 staffers around world reported cases
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — U.N. says 86 staffers around world have reported cases of...
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