Nestlé Chairman Paul Bulcke to Step Down Following CEO Dismissal
Nestlé's chairman is set to resign shortly after the company's CEO was dismissed, indicating a significant leadership change at the Swiss multinational food and beverage giant.
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Tim Cook to Remain Apple CEO and Likely Become Chairman Amid Leadership Stability
Despite recent challenges and criticisms, Tim Cook is expected to remain at Apple, potentially becoming chairman to strengthen his influence as the company explores new products like AR glasses and a ring device, with a promising future ahead.
"Boeing's Leadership Shake-Up: A Closer Look at the Turbulent Descent and Quality Problems"
Boeing's new chairman, Steve Mollenkopf, has canceled formal meetings with the planemaker's largest US airline customers and is now reaching out directly to their CEOs as he addresses a crisis of confidence following a management shakeup.
NYCB's Stock Rebounds as New Chairman Addresses Credit Downgrade
New York Community Bank's shares surged after appointing its chairman, Alessandro DiNello, as executive chairman to address operational challenges following a credit rating downgrade by Moody's. The bank's stock had plummeted nearly 60% after reporting a surprise loss and facing mounting losses on commercial real estate, prompting a 71% dividend cut. Moody's downgraded the bank's long-term ratings due to concerns about governance and risk management, while NYCB sought to reassure investors by emphasizing its liquidity and efforts to strengthen risk management. The bank is now searching for new leadership in risk and audit functions.
Tellurian Shakeup: New President Named as Founder Souki Ousted
Tellurian, a U.S. liquefied natural gas (LNG) developer, has appointed a new president and general counsel following the recent ousting of co-founder Charif Souki as chairman. The company's shares dropped 15% as investors reacted to the shake-up, which sees co-founder Martin Houston taking over as chairman and Daniel Belhumeur becoming president. Tellurian will pay Souki at least $6 million in cash as part of his removal from all executive roles. The company has struggled to attract customers and investors for its Driftwood LNG project, and its stock has more than halved in value this year.
Imran Khan's Party Elects New Chairman Ahead of Pakistan's Election
Barrister Gohar Ali Khan has been elected as the new chairman of Pakistan Tehreek-e-Insaf (PTI), succeeding the imprisoned former prime minister Imran Khan. The intra-party elections were conducted online as per the directives of the Election Commission of Pakistan. Imran Khan nominated Gohar Ali Khan for the position, and this appointment is considered temporary. Imran Khan, who is currently in jail, has been facing legal battles since his ousting as prime minister in April 2022.
Rupert Murdoch Passes Torch to Son Lachlan, Hopes to Stay Involved
Rupert Murdoch steps down as chairman of News Corp, with his son Lachlan Murdoch taking over the role. However, Rupert Murdoch stated that he plans to continue playing an active role in the company as Chairman Emeritus. During the annual shareholder meeting, he expressed concern about the suppression of debate and the rise of antisemitism, while also paying tribute to journalists in conflict zones. News Corp CEO Robert Thomson thanked Murdoch for his contributions and expressed gratitude for his achievements. Murdoch reflected on his past and emphasized the responsibility of humanity's "high destiny."
Padres Chairman Peter Seidler Dies at 63
Peter Seidler, Chairman and Owner of the San Diego Padres, has passed away at the age of 63. Known for his kindness and generosity, Seidler's impact on the city of San Diego and the baseball world will be felt for generations. The Padres will open the Home Plate Gate at Petco Park for those who wish to pay their respects.
China Evergrande's Chairman Under Police Watch, Shares Suspended
Trading in shares of China Evergrande, one of China's largest property developers, has been suspended after reports that its chairman, Hui Ka Yan, has been placed under police surveillance. The company, which has over $300 billion in liabilities, is facing a growing threat of liquidation as it struggles with a debt crisis in China's property sector. Evergrande's restructuring plan is now at risk of failing, and the risks of the company being liquidated are increasing. Trading in its Hong Kong-listed shares and those of its property services and electric vehicle units has been suspended.
"SoftBank-backed chip group Arm shares dip below IPO price as five charged with spying for Russia in the UK amid Ukraine war"
Rupert Murdoch, media mogul and founder of News Corp, is stepping down as the chairman of both Fox Corporation and News Corp, handing over the reins to his son Lachlan Murdoch. This move marks the end of an era for Murdoch, who has been a dominant figure in the media industry for decades.
"Blackhawks Chairman and Owner, Rocky Wirtz, Passes Away at 70"
Rocky Wirtz, chairman of the Chicago Blackhawks, has passed away at the age of 70. Wirtz took over the franchise and the family's liquor distribution company, Wirtz Corp., in 2007. Under his leadership, the Blackhawks experienced significant growth in brand, revenue, and fan base, winning three Stanley Cups. Wirtz's son, Danny, who currently serves as CEO of the team, may be in line to take over leadership of the organization.
Pat Sajak's Next Move After Leaving "Wheel of Fortune"
Former "Wheel of Fortune" host Pat Sajak has been named the new chairman of the Board of Trustees at Hillsdale College in Michigan, following the retirement of current chairman William Brodbeck. Sajak had previously served as vice chairman of the board since 2003.
"Jamie Dimon's Potential Political Future and Successor Speculation"
Jamie Dimon, the CEO and Chairman of JPMorgan Chase, has revealed that he has considered entering politics after leaving his current role.
Tesco Chairman John Allan Resigns Amidst Conduct Allegations
Tesco Chairman John Allan will step down from his position at the company's annual shareholders' meeting next month, with senior independent director Byron Grote becoming interim chair. Allan's tenure as chairman was due to end shortly, with a succession planning process in progress. The move comes after claims of inappropriate behavior were made against Allan, which Tesco said risked becoming a distraction. Allan denies three of the allegations, while apologizing for the other.
Credit Suisse Chair Apologizes to Shareholders Amid Fury.
At Credit Suisse's final shareholder meeting, the chairman, Urs Rohner, apologized for the bank's recent scandals and failures, stating "I am truly sorry." The meeting comes as UBS agrees to buy Credit Suisse, marking a significant shift in the Swiss banking industry.