All articles tagged with #ceo ouster
Kroger plans to close 60 underperforming stores over the next 18 months following the abrupt resignation of CEO Rodney McMullen and the collapse of its $25 billion merger with Albertsons, as the company focuses on reinvesting savings into customer experience and benefiting from increased at-home dining trends, with overall sales growth forecasted to improve.
Former OpenAI board member Helen Toner detailed the events leading to and following the ousting of CEO Sam Altman, citing reports of psychological abuse and a toxic atmosphere. Altman was rehired after nearly all staff threatened to leave unless the board stepped down. OpenAI's current board chair stated that the prior board's decision was not related to product safety, development pace, finances, or statements to stakeholders.
Investment firm JAT Capital, which holds a 9.6% stake in Bed Bath & Beyond, has sent a scathing letter to the company's board, accusing them of poor behavior and refusing to answer shareholder questions. The firm criticized the board for canceling investor conferences and misrepresenting the ouster of former CEO Jonathan Johnson. JAT called for greater transparency and urged the board to explain their decisions. Additionally, JAT has called for Marcus Lemonis, CEO of Camping World and a member of the Overstock board, to take over management of Bed Bath & Beyond.