Tag: CEO
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Former Abercrombie & Fitch CEO Mike Jeffries pleads not guilty to sex trafficking charges
Former Abercrombie & Fitch CEO Mike Jeffries and an alleged accomplice pleaded not guilty on Friday to sex trafficking and interstate prostitution charges. Jeffries and James Jacobson entered their pleas during a brief appearance at the federal courthouse in Central Islip, N.Y. Entering the courtroom, Jeffries did not acknowledge Jacobson and let his lawyer, Brian…
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New Boeing CEO to give clues on company’s future, while striking workers vote on new contract
Boeing has already braced investors for a rough quarterly report. Now, new CEO Kelly Ortberg has the chance to share his vision for the troubled manufacturer, from a potential strike-ending labor agreement to a slimmed-down future. When he takes the mic for his first earnings call as Boeing’s CEO on Wednesday, more than 32,000 striking machinists will start voting on a…
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Former Abercrombie & Fitch CEO Mike Jeffries arrested on sex trafficking charges
The former CEO of Abercrombie & Fitch, Mike Jeffries, has been arrested on sex trafficking and interstate prostitution charges, according to two senior law enforcement officials briefed on the matter. Jeffries has been arrested in West Palm Beach, Florida. Two other associates, Matthew Smith of West Palm Beach and James Jacobson of Wisconsin, were also…
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Lucid CEO says Wall Street misinterpreted $1.75 billion capital raise
DETROIT — Investors misinterpreted a public offering last week by Lucid Group that raised roughly $1.75 billion — and led to the stock’s worst daily performance in nearly three years — CEO Peter Rawlinson told CNBC. Rawlinson said the raise, which included a public offering of nearly 262.5 million shares of its common stock, was a timely, strategic business…
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Embraer CEO says jet maker studying possibilities for a new aircraft
Brazilian plane maker Embraer SA is studying the market and new technology that could warrant it building an all-new jet, CEO Francisco Gomes Neto told CNBC. A new airplane could help the airplane manufacturer compete with much larger rivals Airbus and Boeing, which deliver hundreds of jets a year compared with Embraer’s dozens of aircraft. But Gomes Neto…
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CVS replaces CEO as profits, share price suffer
Longtime CVS Health executive David Joyner has replaced Karen Lynch as CEO, as the company struggles to drive higher profits and stock performance, CVS announced Friday. The move, effective Thursday, the day before the announcement, comes as CVS shares have fallen nearly 20% this year. Shares plunged about 13% in premarket trading Friday. CVS has faced challenges as…
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Why Honeywell CEO Vimal Kapur doesn’t think the AI payoff will come from productivity
As CEO of one of the world’s largest industrial conglomerates, Honeywell’s Vimal Kapur doesn’t think about AI like most individuals. It’s not about the threatened office worker. “There is always a trend which makes your skills obsolete, every five years,” Kapur said at the recent CNBC Evolve: AI Opportunity Summit in New York City. “The churn…
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Boeing factory strike crosses 1-month mark as pressure mounts on new CEO
It’s been just over a month since more than 30,000 Boeing machinists walked off the job after overwhelmingly voting down a tentative contract. Costs and tensions have only risen since then. The strike is adding to pressure on Boeing’s new CEO, Kelly Ortberg, who was brought in over the summer to solve the plane maker’s various troubles. The strike, which S&P…
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Trump falsely claims he was endorsed by JPMorgan CEO Jamie Dimon
Former Donald Trump on Friday falsely claimed in a social media post that he had been endorsed by longtime JPMorgan Chase CEO Jamie Dimon. A representative for Dimon said he hasn’t endorsed anyone in the 2024 presidential race, and Trump quickly tried to distance himself from the claim. Trump first posted about the endorsement on his…
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New Starbucks CEO Brian Niccol commits to working with union as talks move forward
Starbucks CEO Brian Niccol said the coffee chain is committed to bargaining in good faith with the union that represents many of its baristas, as the two sides work to craft a labor deal. “I deeply respect the right of partners to choose, through a fair and democratic process, to be represented by a union,” Niccol…