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As Wall Street’s top bankers huddled in New York last month, preparing to convince Elon Musk’s SpaceX that they should be chosen to lead its upcoming IPO, one firm wasn’t letting its star advisor miss the bake-off. Among the squad of JPMorgan Chase investment bankers flying 2,500 miles west to California to pitch SpaceX was […]
Berkshire Hathaway said Tuesday it raised the salary of new Chief Executive Greg Abel to $25 million, far exceeding the $100,000 annual salary that his predecessor Warren Buffett accepted for more than four decades. Abel, 63, became chief executive on Jan. 1, after spending eight years as vice chairman overseeing Berkshire’s non-insurance businesses. His compensation was set by […]
Nvidia CEO Jensen Huang said Monday that the company’s next generation of chips is in “full production,” saying they can deliver five times the artificial-intelligence computing of the company’s previous chips when serving up chatbots and other AI apps. In a speech at the Consumer Electronics Show in Las Vegas, the leader of the world’s most valuable […]
The owner of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman is in a race to land more than $1 billion in rescue financing from new and existing investors – even as the company announced its CEO is stepping down, The Post has learned. The luxury giant needs a cash infusion to pay off a […]
A pedestrian passes in front of the Saks Fifth Avenue at Brookfield Place in New York. Allison Joyce | Bloomberg | Getty Images Saks Global named a new CEO on Friday as the retailer is reportedly on the cusp of filing for bankruptcy protection. The parent of high-end department store chain Saks Fifth Avenue, which is privately held, […]
Louis Gerstner, the former CEO and chairman of IBM, died on Saturday, aged 83. IBM chairman and CEO Arvind Krishna announced Gerstner’s death in an email sent Sunday to employees, but did not provide a cause of death. “Lou arrived at IBM at a moment when the company’s future was genuinely uncertain. His leadership during that period […]
U.S. shoppers are willing to spend this holiday season — despite falling consumer confidence and anxiety over prices — but only if the deals are there, Tanger CEO Stephen Yalof told CNBC on Tuesday. “Retailers are discounting to meet the consumer, and the consumer is responding by shopping,” Yalof said on CNBC’s “Money Movers.” Yalof said […]
The gambling watchdog (PAGCOR) for the Philippines is under fire, as its CEO, Alejandro Tengco, has been accused of a conflict of interest. It comes as Tengco’s family’s construction firm managed to acquire government contracts. The PAGCOR chief has refuted these claims, claiming that he has no direct influence on what the wider government does. […]
Lululemon announced Thursday its CEO Calvin McDonald will step down effective Jan. 31 following more than a year of underperformance at the athleisure company. The company’s board of directors is working with a “leading executive search firm” to identify its next CEO, it said in a news release. McDonald will stay on as a senior […]
Henrique Braun to become the next CEO of The Coca-Cola Company. Courtesy: The Coca-Cola Company Coca-Cola Chief Operating Officer Henrique Braun will succeed James Quincey as CEO next year, the company said Wednesday, as Coke and its rivals navigate tepid consumer demand for soft drinks. The change will take effect on March 31, and Braun […]
