All articles tagged with #ceo change
SAS’s Anko van der Werff will leave his post to become Air Canada’s next chief executive, taking the role by early 2027. The move represents a high-profile outsider appointment aimed at driving a strategic turnaround for Air Canada, with questions surrounding language requirements in a bilingual Canadian context and how his international experience will shape the carrier’s transformation.
MillerKnoll disclosed that Andi Owen will retire as President and CEO on June 30, 2026, with COO Jeff Stutz serving as interim CEO during her leave of absence and the board launching a comprehensive search for a successor; Owen resigns from the board, and the company reiterates its fiscal 2026 fourth-quarter outlook with results due June 24, 2026; Stutz, a longtime MillerKnoll leader including ten years as CFO, will guide the company through the transition.
PayPal’s stock fell about 20% after it posted slowing growth in its branded-checkout business and announced a dramatic leadership change, naming Enrique Lores of HP as the new CEO effective March 1. Q4 branded-checkout growth slowed to 1% (currency-adjusted) from ~5% in the prior two quarters, with weakness in U.S. retail, international headwinds and tough comps cited. The company guided to a low-single-digit decline in adjusted EPS for the year, while pushing initiatives to boost a faster, biometrics-enabled checkout and capitalize on Pay With Venmo and BNPL to reignite growth. For Q4, payment volume was $475 billion (up 6% currency-neutral), revenue $8.68 billion, and adjusted EPS $1.23, missing some expectations.
Saks Global's CEO, Marc Metrick, has stepped down amid reports that the luxury retailer is preparing for bankruptcy, following challenges in the luxury department store sector and a failed merger with Neiman Marcus, with Richard Baker appointed as the new CEO.
Saks Global's CEO Marc Metrick has resigned amid reports of impending bankruptcy, with Richard Baker appointed as his successor, as the luxury retailer faces financial struggles following a merger with Neiman Marcus and shifting consumer preferences in the luxury market.
Saks Global, the parent company of Saks Fifth Avenue, is preparing to file for bankruptcy amid financial struggles following a missed debt payment related to its acquisition of Neiman Marcus. The company has appointed Richard Baker as its new CEO and continues efforts to stabilize its finances through asset sales and debt restructuring.
Frontier Airlines has replaced its nearly decade-long CEO, Barry Biffle, with President James Dempsey, who will serve as interim CEO, as part of a leadership transition announced by the airline.
Verizon reported Q3 earnings that beat estimates with a profit of $1.21 per share and revenue of $33.8 billion, despite losing some wireless subscribers and missing revenue targets. The company announced a new CEO, Dan Schulman, who promises significant changes to improve performance. Verizon's stock rose slightly after the report, but the stock remains below its recent highs amid competitive pressures and strategic shifts, including a $20 billion acquisition of Frontier Communications.
AT&T, Verizon, and T-Mobile are set to report Q3 earnings amid increased wireless competition and strategic shifts, with Verizon's new CEO potentially suspending dividend growth to fund fiber expansion and growth initiatives, while T-Mobile continues subscriber growth and strategic leadership changes.
Paramount is expected to begin layoffs of around 2,000 employees before late October, ahead of CEO David Ellison's first earnings call in November. The layoffs are part of a broader strategy to improve efficiency and fund investments in growth areas, including major deals like UFC rights and content partnerships, across various divisions of the company.
Nestlé plans to lay off over 16,000 employees worldwide, primarily through automation and organizational restructuring, as part of a cost-cutting strategy under new CEO Philipp Navratil to improve efficiency amid changing consumer preferences and recent financial challenges.
Nestle plans to cut 16,000 jobs over the next two years to focus on high-potential products and improve cost efficiency, as part of a strategic shift under new CEO Philipp Navratil aimed at boosting performance and investor confidence.
Nestle announced plans to cut 16,000 jobs to improve efficiency and accelerate growth under new CEO Philipp Navratil, leading to a 7.2% rise in its shares. The company posted better-than-expected Q3 organic growth of 4.3%, driven by strategic focus on successful brands and turnaround efforts, despite challenges in Greater China and past leadership upheavals.
Verizon's unexpected CEO change to Daniel Schulman has caused a stir in the wireless industry, leading to concerns about increased competition and potential price cuts, which impacted the stocks of Verizon, T-Mobile, and AT&T, signaling a possible shift towards more aggressive strategies to regain market share.
Verizon appointed Daniel Schulman as its new CEO, leading to a 4.8% stock drop amid ongoing leadership changes in the telecom industry, with T-Mobile and AT&T also experiencing declines as they face stiff competition and industry headwinds.