Germany’s Volkswagen Group on Thursday revealed a series of measures that include CEO Herbert Diess keeping his job, overhauling the board, naming a new China leader, and the company raising its five-year spending plan for electric mobility to take on Tesla Inc. The Big Changes The 63-year old Diess will continue as Volkswagen Group CEO…
Qualcomm’s AI Chip Chief Departs to Take Helm at Startup MemryX
Keith Kressin, the executive who oversaw Qualcomm Inc.’s artificial intelligence chip efforts, has left to take the top job at a Michigan-based semiconductor startup. Kressin has become chief executive of MemryX, founded in 2019 by University of Michigan professors Wei Lu and Zhengya Zhan, the company told Reuters. MemryX is working on its second generation…
American Airlines Taps President Isom as Next CEO
December 7, 2021
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American Airlines Group Inc. CEO Doug Parker will hand over the reins of the No. 1 U.S. airline to president Robert Isom on March 31, the company said on Tuesday, sending its shares up more than 3 percent before the bell. Parker will continue as chairman, while Isom will join the carrier’s board after he…
Life By the Golden Rule
When Tom Monaghan was 4 years old, his dad passed away. His mother couldn’t handle raising two little boys by herself, so she dropped them off at the orphanage, and set out to try to rebuild her life. Tom and his brother spent their formative years with the Polish nuns at the orphanage. It was…
Domino’s Pizza Founder Tom Monaghan’s American Success Story
When Tom Monaghan was 4 years old, his dad passed away. His mother couldn’t handle raising two little boys by herself, so she dropped them off at the orphanage, and set out to try to rebuild her life. Tom and his brother spent their formative years with the Polish nuns at the orphanage. It was…
Ryanair CEO Says Omicron No Reason to Cancel Flights
November 29, 2021
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LISBON—Ryanair Group Chief Executive Michael O’Leary said on Tuesday he saw no reason to cancel flights because of the Omicron variant of the coronavirus and his airline’s flights were heavily booked for the next few weeks. “We are not cancelling any flights … I don’t see that (Omicron) as a justifiable reason to prevent people…
IQE Appoints GlobalFoundries Executive as CEO
British technology firm IQE PLC announced the appointment of Americo Lemos as CEO, effective January 10, 2022. Lemos joins IQE from the executive team of GLOBALFOUNDRIES Inc., a semiconductor designer and manufacturer. In 2020, Drew Nelson announced plans to step down. As previously announced, Nelson will retain an advisory and ambassadorial role for the business…
CEO Who Threw Chair Inside Capitol on Jan. 6 Gets Jail Time
November 13, 2021
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The former chief executive of a tech company in suburban Chicago who lost his job after he threw a chair inside the U.S. Capitol during the Jan. 6 riot was sentenced Friday to 30 days imprisonment. U.S. District Judge Carl Nichols also ordered Bradley Rukstales, of Inverness, Illinois, to pay $500 in restitution, court records…
Novavax COVID-19 Vaccine Gets First Authorization; Expects More Within Weeks, CEO Says
Novavax Inc. expects regulators in India, the Philippines, and elsewhere to make a decision on its COVID-19 vaccine within “weeks,” its chief executive told Reuters, after the shot on Monday received its first emergency use authorization (EUA) from Indonesia. Novavax shares were up about 13 percent after the company also said it had filed an…
Daimler CEO Hopes to Stabilize Supply Chain This Quarter
October 23, 2021
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DETROIT—Daimler AG Chief Executive Ola Kaellenius told Reuters on Friday the automaker hopes to stabilize its supply chain for semiconductors during this quarter, but expects real relief from shortages of chips will not arrive until 2023. Kaellenius, who is visiting Mercedes operations in the United States, said production of Mercedes vehicles during the fourth quarter…
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