All articles tagged with #ceo departure
The CEO of Monzo was ousted following disagreements within the board regarding the company's growth strategy and plans for an IPO, highlighting internal conflicts over the bank's future direction.
GSK's stock rose after CEO Emma Walmsley announced her departure, with Luke Miels set to succeed her. Walmsley's leadership saw strategic shifts including the Haleon demerger and a focus on R&D, leading to a 16% stock increase this year. The company aims for a smooth leadership transition as it prepares for future growth.
Intel is undergoing significant leadership changes, including the departure of Michelle Johnston Holthaus after over 30 years, and the creation of a new central engineering group led by Srinivasan Iyengar to focus on custom silicon. The company also announced new leadership roles for Kevork Kechichian, Jim Johnson, and Naga Chandrasekaran, as part of its efforts to innovate and expand its product offerings amid recent government investments and strategic shifts.
Sony's stock price increased following the departure of Bungie’s CEO, indicating a positive market reaction to leadership changes at the gaming company.
Eric Jackson predicts Opendoor's stock could surge to $82 per share by the end of 2025, a nearly 2,000% increase, following the CEO's resignation and his bullish outlook on the company's potential to become the 'Airbnb of housing' by shifting focus away from iBuying, expanding internationally, and restructuring leadership.
Amazon has restructured its Wondery podcast studio, laying off about 110 staff and shifting its narrative podcast operations to Audible, while focusing on video and creator-led content. Wondery CEO Jen Sargent is departing after seven years, and the company is creating new teams to support monetization and advertising across Amazon platforms, reflecting the evolving podcast landscape with a focus on video integration.
Kenvue's CEO Thibaut Mongon is leaving amid ongoing strategic review, with Kirk Perry serving as interim CEO. The company, formerly part of Johnson & Johnson, is exploring options to streamline its operations and portfolio, while also reporting preliminary fiscal second quarter earnings and preparing to revise its full-year outlook. Shares rose over 4% before market open.
Linda Yaccarino resigned as Twitter's CEO amid internal conflicts with Elon Musk, including clashes over management styles, advertiser relations, and her diminished influence following the company's merger with xAI. Despite stabilizing Twitter's valuation, she was effectively sidelined, and her departure appears to be driven by Musk's dissatisfaction and strategic disagreements.
Linda Yaccarino has announced her resignation as CEO of Elon Musk's social media platform X after two years, amid controversies including antisemitic comments made by Musk's AI chatbot Grok. Her departure follows her support for Musk and her efforts to transform X into an 'Everything App,' though she did not specify reasons for leaving.
Former Stellantis CEO Carlos Tavares claims he wasn't fired but left due to disagreements with Chairman John Elkann over the company's strategic direction. His departure follows a period of organizational chaos, with new leadership appointed and internal conflicts highlighted. Tavares, a highly experienced industry figure, left Stellantis amid ongoing turmoil, leaving the company vulnerable in a challenging automotive market.
Intel's former CEO Pat Gelsinger is set to receive over $10 million in severance pay following his departure, which includes 18 months of his base salary and bonuses. This comes amid a challenging period for Intel, marked by a significant drop in valuation and workforce layoffs due to poor financial results. Gelsinger's exit follows nearly four years as CEO, with interim co-CEOs now in place as Intel seeks a permanent replacement.
The sudden departure of Intel CEO Pat Gelsinger opens up new possibilities for the company to explore deal options, including private equity transactions and a potential split of its factory and product-design businesses, which Gelsinger previously opposed.
Intel's stock initially rose but later fell following the announcement of CEO Pat Gelsinger's departure, reflecting market uncertainty about the company's future. Gelsinger's tenure was marked by challenges, including competition from AMD and Nvidia and a controversial move to establish a separate foundry business. Intel has appointed interim co-CEOs and is searching for a new leader as it navigates a difficult market environment.
Kohl's shares plummeted over 20% following the abrupt resignation of CEO Tom Kingsbury just before Black Friday, amid declining sales and a reduced annual forecast. The retailer reported its 11th consecutive quarterly same-store sales decline, with a 9.3% drop. The unexpected leadership change has further shaken investor confidence as Kohl's struggles to compete with discount chains like Walmart, especially as inflation impacts consumer spending. Ashley Buchanan, former Michaels CEO, will take over in January.
Kohl's announced the unexpected departure of CEO Tom Kingsbury, appointing Walmart executive Ashley Buchanan as his successor, just before releasing its quarterly results. This leadership change adds uncertainty for the struggling department store chain ahead of the crucial holiday shopping season. Analysts express concern over the timing, suggesting it may indicate a lack of confidence. Kohl's is expected to report its eleventh consecutive quarter of declining sales, with net income projected to nearly halve, as its stock has already fallen 36% this year.