All articles tagged with #ceo resignation
Saks Global Enterprises, owner of Saks Fifth Avenue and Neiman Marcus, announced the immediate resignation of CEO Marc Metrick amid financial struggles stemming from a $2.65 billion debt from acquiring Neiman Marcus and increased sector competition, with Richard Baker stepping in as interim CEO.
CarMax's stock dropped about 10% after the company announced a weak fiscal outlook and the unexpected resignation of CEO Bill Nash, with interim leadership appointed and a focus on improving sales and profitability amid ongoing struggles.
Remedy Entertainment's CEO Tero Virtala has resigned after underperforming sales of the Control spin-off FBC: Firebreak, with Markus Mäki stepping in as interim CEO. The company faces challenges with its live-service game, despite ongoing projects like Control 2 and the Max Payne remake, and Alan Wake 2 becoming profitable a year post-release.
Remedy CEO Tero Virtala has resigned after nine years, with co-founder Markus Mäki appointed as interim CEO while the company begins searching for a new leader. The resignation follows recent financial adjustments due to weak sales of the multiplayer game FBC Firebreak, which impacted the company's outlook for 2025.
Oliver Blume is stepping down as CEO of Porsche but will remain at Volkswagen, amid criticism over his dual role which was seen as a conflict of interest. His leadership at Porsche was marked by record profits and a successful IPO, but the German auto industry faces challenges from Chinese competitors and internal struggles at Volkswagen. Michael Leiters is expected to succeed Blume at Porsche.
Patrick James, the founder of First Brands, has stepped down as CEO, marking a significant leadership change for the company.
Takeshi Niinami, CEO of Suntory, resigned following a police investigation into his purchase of illegal supplements, which he believed were legal. The company emphasized strict compliance with laws and appointed Nobuhiro Torii as the new leader, with no replacement for the CEO role. The investigation pertains to supplements not produced by Suntory, and Niinami's resignation was accepted after he offered to step down.
Bungie CEO Pete Parsons has resigned after over two decades amid criticism over layoffs, workplace toxicity, and management issues, with Justin Truman taking over as CEO. Parsons' departure follows a series of layoffs, negative player sentiment, and controversy over his personal spending on classic cars. Bungie continues to develop Destiny 2 and the upcoming game Marathon, which has faced delays and internal challenges. The studio is at a critical juncture, with hopes that new leadership will improve morale and direction.
Target's CEO Brian Cornell is stepping down amid declining sales, a customer boycott over DEI policy changes, and economic concerns, with the company struggling to recover from recent setbacks and shifting consumer behaviors.
Opendoor Technologies announced the immediate resignation of CEO Carrie Wheeler, leading to a 9% increase in its stock price. The company is searching for a new CEO, with a focus on expanding into artificial intelligence and leveraging its data assets. Despite recent stock surges driven by retail traders and some bullish commentary, Wall Street remains cautious, with analysts largely rating the stock as a hold or sell. The company continues to navigate challenges in the real estate market and strategic shifts.
Kroger's former CEO Rodney McMullen is ordered to explain his sudden resignation amid a lawsuit involving singer Jewel, which could reveal insights into Kroger's corporate culture and ethics. The case highlights legal debates over transparency and relevance in court proceedings.
GitHub CEO Thomas Dohmke announced he will step down by the end of the year to become a founder again, with GitHub now reporting to Microsoft executives as the company continues to grow despite increasing competition in AI tools for programmers.
Microsoft is integrating GitHub more closely into its CoreAI team following the resignation of GitHub CEO Thomas Dohmke, who is leaving to start a new venture. GitHub, previously operated as a separate entity since its 2018 acquisition, will now have no CEO and will report directly to Microsoft's CoreAI leadership, signaling a shift towards deeper AI integration within Microsoft’s development ecosystem.
President Trump demanded Intel CEO Lip-Bu Tan resign over alleged Chinese ties, raising concerns about national security and the company's ability to fulfill U.S. obligations, though Intel defended Tan's commitment to American interests amid market fluctuations.
Intel's stock dropped 3.1% after President Trump called for CEO Lip-Bu Tan's resignation, citing conflicts related to his ties to Chinese firms amid ongoing concerns about national security and Intel's recent struggles to compete with rivals like AMD and Nvidia.