All articles tagged with #management changes
Amazon is restructuring its AI division, including the departure of its AI chief, to focus on advancing its chips and large language models amid competitive pressures, with new leadership and strategic investments in AI technology.
The Washington Nationals' ownership, led by the Lerner family, has made significant moves by firing key executives, but is unlikely to sell the team soon due to valuation concerns and the current sports media landscape. The team faces revenue challenges and is in the process of restructuring management, with interim GM Mike DeBartolo a potential long-term hire. The ownership's focus appears to be on stabilizing the team rather than a quick sale or major payroll increase, despite recent bold decisions.
The Washington Nationals fired GM Mike Rizzo and manager Dave Martinez just a week before the 2025 MLB Draft, with assistant GM Mike DeBartolo named interim GM to oversee the draft process. This decision echoes past instances where teams changed GMs close to the draft, such as the Royals in 2006 and the Nationals in 2009, often leading to decisions made by scouting staff rather than the new GMs.
The Pittsburgh Penguins missed the playoffs for the second consecutive season, prompting management changes and raising questions about the team's offseason plans. President of hockey operations Kyle Dubas faces the challenge of retooling the team while maintaining an aging core of players like Sidney Crosby, Evgeni Malkin, and Kris Letang. The team's underwhelming performance, particularly in the power play and goaltending, has led to speculation about potential roster changes and the need for improvements in the upcoming offseason.
Cynthia Williams, President of Wizards of the Coast and Hasbro Gaming, has resigned from Hasbro effective April 26, 2024. The company is currently searching for her successor, considering both internal and external candidates.
Microsoft's Bing chief, Mikhail Parakhin, is stepping down from his role following the appointment of Mustafa Suleyman as the head of consumer artificial intelligence. Parakhin will be seeking a new position within the company while reporting to Chief Technology Officer Kevin Scott. The move comes as Microsoft aims to unify its AI efforts under Suleyman's leadership, reflecting CEO Satya Nadella's impatience with the company's progress in the AI space.
Actress Selma Blair has parted ways with her agents at CAA, her publicity team at Narrative, and made changes to her management and legal representation. The changes come after facing backlash for posting an anti-Islam comment on social media, for which she later issued a public apology, acknowledging her mistake and expressing regret for hurting people.
BlackRock announces a $12.5 billion deal to acquire Global Infrastructure Partners, with $3 billion in cash and 12 million shares. The acquisition aims to position BlackRock at the forefront of investing in global infrastructure projects. The company also revealed management changes and reported an 8% rise in quarterly profit, driven by market rebound and increased assets under management.
Markus Kamieth will succeed Martin Brudermüller as Chairman of the Board of Executive Directors of BASF SE in 2024, following a decision by the Supervisory Board. Anup Kothari and Katja Scharpwinkel have been appointed as members of the Board of Executive Directors, effective March 1, 2024, and February 1, 2024, respectively. Melanie Maas-Brunner will not renew her contract beyond 2024. The Supervisory Board has also extended the contract of Michael Heinz until the Annual Shareholders' Meeting in 2026.
Weight loss startup Calibrate is undergoing management changes as investors restructure the company, with CEO Isabelle Kenyon stepping down from day-to-day operations. Calibrate's CFO Dave Fielding is also expected to step down, and potential replacements for both roles are being interviewed. Redesign Health, the startup studio that launched Calibrate, and Madryn Asset Management, the majority funder, will play active roles in facilitating the restructuring. The company has faced challenges this year, including medication shortages and failed acquisition talks. Investors are now aiming for a "rapid down-sizing" of Calibrate's direct-to-consumer operations and providing additional funding to achieve profitability.
Citigroup CEO Jane Fraser has announced a major management reorganization aimed at simplifying the bank's structure and improving profitability. The heads of the bank's five businesses will now report directly to Fraser, and job cuts are expected as a result. The reorganization will eliminate unnecessary complexity and consolidate international leadership roles. The number of positions being eliminated and the financial impact have not been estimated yet. This move is part of Fraser's strategy to meet the bank's restructuring targets and improve shareholder value.
Chevron Corp announced management changes, including the retirement of its finance chief Pierre Breber in 2024 and the extension of CEO Michael Wirth's retirement age. Eimear Bonner, the company's technology chief, will replace Breber as CFO, becoming only the second woman to hold the position in Chevron's history. Wirth, who will turn 63 this year, has agreed to stay past the mandatory retirement age of 65. Chevron also announced other senior leadership changes. The company expects to report a quarterly profit above analysts' estimates.
The Buffalo Bills have announced changes on the business side of the organization, parting ways with executive vice president and chief operating officer Ron Raccuia. Bills owner/CEO Terry Pegula will now take over as president of the Bills and work closely with a new management committee. John Roth, executive vice president/chief operating officer of the Buffalo Sabres and PSE, will oversee ticketing, business development, and media and content departments. Kathryn D'Angelo, general counsel, will oversee security, human resources, and marketing departments, while Josh Dziurlikowski, vice president of finance, will oversee community relations, operations and guest experience, and information technology departments. Penny Semaia was hired as the vice president of stadium relations.
Joseph Tsai, owner of the Brooklyn Nets and a prominent blockchain investor, will replace Daniel Zhang as chairman of the board at Alibaba Group Holding Ltd. Eddie Wu, another Alibaba co-founder, will take over from Zhang as CEO. Tsai, a longtime ally of fellow Alibaba co-founder Jack Ma, is well-known and liked on Wall Street, but his American ties are rare among Chinese business leaders. Analysts largely applauded the management changes, but Alibaba’s US-traded shares were down 4.7% mid-morning in New York as some argued that investors first want to see growth.
Barclays CEO C.S. Venkatakrishnan held a virtual town hall to address management changes that have led to about two dozen U.S. investment bankers leaving the bank in recent weeks. The move comes as Barclays slipped to 14th place in Refinitiv's Americas mergers and acquisitions league table in Q1 2023 from sixth a year earlier, even as it jumped from ninth to fifth in the Europe, Middle East and Africa league table. Venkatakrishnan promised to invest in the investment banking business to boost morale and address the succession plan that led to the departure of tenured Barclays bankers.