Starbucks Corp. interim CEO Howard Schultz testifies before a U.S. Senate committee after earlier resisting requests to appear and answer questions about the company’s compliance with labor law. …
Sergio Ermotti Returns as UBS CEO to Steer Credit Suisse Takeover
March 29, 2023
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ZURICH—UBS Group AG has rehired Sergio Ermotti as CEO to steer its massive takeover of neighbor Credit Suisse—a surprise move to take advantage of the Swiss banker’s experience rebuilding the bank after the global financial crisis. The trader turned corporate problem fixer faces the tough challenge of laying off thousands of staff, cutting back Credit…
LIVE 10 AM ET: TikTok CEO Testifies on Data Privacy and Protect Children From Online Harms to House Committee
March 23, 2023
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TikTok Chief Executive Officer Shou Chew testifies on “How Congress Can Safeguard American Data Privacy and Protect Children from Online Harms” to the U.S. House Energy and Commerce Committee at 10:00 a.m. ET on March 23. …
LIVE NOW: TikTok CEO Testifies on Data Privacy and Protecting Children From Online Harms to House Committee
March 23, 2023
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TikTok Chief Executive Officer Shou Chew testifies on “How Congress Can Safeguard American Data Privacy and Protect Children from Online Harms” to the U.S. House Energy and Commerce Committee at 10:00 a.m. ET on March 23. …
Significant Number of Banks Will Fail Within 2 Years, Predicts CEO of Hedge Fund Giant
March 23, 2023
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The CEO of one of the largest publicly traded hedge funds has warned that the turmoil sparked by the collapse of Silicon Valley Bank (SVB) is not over and a “significant number” of banks could fail in the next two years. Man Group CEO Luke Ellis made the comments during a Bloomberg conference in London on March 22…
Starbucks New CEO Laxman Narasimhan Takes His Seat
Starbucks officially has a new CEO. The Seattle coffee giant said Monday that Laxman Narasimhan has assumed the role of CEO and joined the company’s board of directors. Narasimhan succeeds longtime Starbucks leader Howard Schultz, who came out of retirement last spring to serve as interim CEO while the company searched for a new chief…
Boeing Denies CEO Calhoun $7 Million Bonus Due to 777X Delays
WASHINGTON—Boeing Co. Chief Executive Dave Calhoun will not receive a $7 million bonus due to the company’s failure to enter the 777X into service by the end of 2023, Boeing said Friday. Boeing offered the performance-based incentive to Calhoun when he replaced former CEO Dennis Muilenburg in January 2020 and required that Calhoun achieve seven…
Elon Musk Hopes to Have Twitter CEO Toward the End of Year
February 15, 2023
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DUBAI, United Arab Emirates—Billionaire Elon Musk said Wednesday that he anticipates finding a CEO for Twitter “probably toward the end of this year.” Speaking via a video call to the World Government Summit in Dubai, Musk said making sure the platform can function remained the most important thing for him. “I think I need to…
Majority Vote ‘Yes’ for Elon Musk to Step Down as Head of Twitter
December 19, 2022
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Expectations are building that Elon Musk will step down as CEO of Twitter after a poll that he launched and vowed to “abide by” showed the majority voting “yes” to his departure from the helm of the social media giant. Musk launched the poll on Sunday, asking whether he should step down as head of…
Penguin Random House CEO Markus Dohle Is Stepping Down
NEW YORK—The CEO of Penguin Random House, the world’s largest trade publisher, is stepping down. Markus Dohle’s decision, effective at the end of the year, comes just weeks after a federal judge blocked the company’s attempt to buy rival Simon & Schuster. “Following the antitrust decision in the U.S. against the merger of Penguin Random…
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