Kraft Heinz CEO Says Low‑Income Consumers Running Out of Money as Gas Prices Hit $4.56
Kraft Heinz chief executive Steve Cahillane warned that low‑income Americans are literally running out of money at the end of each month, a sentiment echoed across retail and food‑service firms. The warning comes as gasoline prices average $4.56 a gallon, pushing the personal savings rate to a three‑year low and driving a $10 billion surge in credit‑card debt.
Anchorage Is Stepping Back From Robinhood and Kraken-Backed Stablecoin Group
Anchorage Digital, the first federally chartered crypto bank in the United States, announced it will step back from a front‑line role in the Global Dollar stablecoin (USDG) consortium, which includes Robinhood and Kraken. The firm will adopt a more neutral...
Sallie Mae Elevates COO Kerri Palmer to Co‑President, Expands Executive Team
Sallie Mae announced that Chief Operating Officer Kerri Palmer will also serve as co‑president, joining CFO Peter Graham in the role. The dual appointment follows the retirement of the chief commercial officer and is intended to deepen operational oversight and...
Magellan Outsources $3.5B Core Global Fund to Quant Partner Vinva, Cuts Fees by One‑Third
Magellan announced it will transfer management of its A$5.3 billion ($3.5 billion) flagship global equities fund to systematic manager Vinva and cut fees from 1.35% to 0.89%. The move trims eight staff, shutters a small hedged ETF and puts $3.7 billion of institutional...
Knorr-Bremse Posts Best Q1 in Five Years, Beats Euro Stock Forecasts
Knorr-Bremse (ETR:KBX) delivered a 2% organic revenue increase and a 140‑basis‑point EBIT margin lift in Q1 2026, calling it its best first quarter in five years. The brake‑system maker beat analysts' expectations, reaffirmed full‑year guidance and highlighted a record rail‑vehicle...
Etihad Credit Insurance Boosts Risk Capacity at Lill Global Symposium
Etihad Credit Insurance (ECI) chief executive Raja Al Mazrouei told the Lill Global Symposium in Oxford that the agency has increased its risk capacity and broadened coverage limits to protect UAE exporters. The move comes as the UAE seeks to...
Telenor Arranges Service Unit Succession
Telenor Group appointed Hanne Sannes‑Moe, formerly head of Nordea’s Daily Banking Services, as chief of its Shared Services (TSS) unit effective 1 August. The TSS operation supports more than 500 employees across the Nordics, Pakistan and Portugal, delivering unified, business‑critical systems...
CBRE Hires Former EQ Office CEO For Property Management Role
CBRE announced the hiring of former EQ Office CEO Lisa Picard and her longtime partner Chris Doman to bolster its property‑management and asset‑management services. Picard, who led EQ Office through its Blackstone acquisition, and Doman co‑founded Oxygen Real Estate, which now manages...
LA500 2026: Jacquelyn Clites
Jacquelyn Clites became chief executive of the American Red Cross Los Angeles Region in December 2025, after 14 years with the organization and a prior stint leading the California Gold Country region. She succeeds Joanne Nowlin, who retires after a...
LA500 2026: Katherine Fleming
Katherine Fleming, president and chief executive of the J. Paul Getty Trust, oversees a $9 billion endowment and a workforce of more than 1,400. Appointed in August 2022 after a six‑year tenure as NYU provost, she has driven initiatives such as...
LA500 2026: Michael Flood
Michael Flood was honored in the 2026 LA500 list, recognizing his 24‑year tenure as president and chief executive of the Los Angeles Regional Food Bank. Under his leadership, the organization has expanded food distribution, introduced nutrition‑focused programs, and navigated crises...
LA500 2026: Michael Govan
Michael Govan, who has led LACMA since 2006, has expanded the museum’s collection by roughly 35,000 works and driven annual attendance above 1.5 million. His tenure culminated in the opening of the $720 million David Geffen galleries, designed by Peter Zumthor and engineered with...
Buffett’s $100K Salary Shows Purpose Trumps Pay
Buffett takes $100,000 a year in salary. He doesn't ask the board if that's fair. He doesn't need to. "Money has no utility to me." Most CEOs optimize their comp package. He optimized his purpose decades ago. The salary was never the point.
LA500 2026: Terry Karges
Terry Karges has steered the Petersen Automotive Museum through a dramatic overhaul since becoming executive director in 2012. Under his guidance ticket sales and staff numbers have each more than tripled, and the museum’s 1960s building was refreshed with a...
'Atlanta Journal-Constitution' Chief Steps Down as Bold Goals Yield to Tough Realities
Andrew Morse is leaving his role as publisher and president of the Atlanta Journal‑Constitution after a three‑and‑a‑half‑year tenure. He launched a $150 million digital‑first plan that targeted 500,000 paying subscribers by 2026, but the paper has reached only about 101,000. The...
Andrew Morse Departs as AJC President and Publisher
Scoop: Andrew Morse is leaving Atlanta Journal-Constitution, where he has served as president and publisher.
Greg Abel Emerges as Berkshire’s Next Transformative CEO
Adam @BRK_Student Mead on: * Why Greg Abel Already Looks Like Berkshire Hathaway’s Next Great CEO * Berkshire Hathaway Buybacks: Is Greg Abel Paying More Than Buffett Would? * Why EBITDA Is the ‘Instagram Filter’ of Finance * Could AI Become a Threat to...
Nexos Group Appoints Dan McAteer CEO
Nexos Group announced Dan McAteer as its new group chief executive, succeeding Scott McGinigal who will stay on briefly to aid the handover. McAteer brings more than 25 years of senior energy‑sector experience, including leadership roles at Worley, Petrofac and National Gas. He...
AJC CEO Resigns After Missing 500k Subscriber Target
NEWS: Andrew Morse steps down as CEO of Atlanta Journal-Constitution. He had set a goal of 500,000 digital subscribers. It's up to 101K. "We set a very ambitious goal," Morse says. "It's still very achievable... What's changed is the timing." My story: https://t.co/HBFq0HUc2b
East of Edens
Billionaire entrepreneur Wes Edens is steering New Fortress Energy toward a London‑based restructuring, betting on the United Kingdom’s courts that are perceived as more favorable to equity holders. The move reflects a growing trend among U.S. companies seeking jurisdictional advantages...
The Scoop: Gap CEO Connects Brand’s Cultural Relevance with Concrete Turnaround Goals
Gap CEO Richard Dickson says the company’s turnaround now hinges on cultural relevance rather than pure operational fixes. He has brought designer Zac Posen on board, dressed Kendall Jenner at the Met Gala, and hired a chief entertainment officer to produce content...
Under Canvas Appoints Noah Brodsky as Chief Executive Officer
Under Canvas announced Noah Brodsky as its new chief executive officer, succeeding Matt Gaghen who will serve as Executive Chairman through 2026 before joining the board. Brodsky arrives with more than 20 years of experience in hospitality, travel and consumer...
Sunil Bharti Mittal Says Now Is the Time to ‘Double Down’ on Investing in India: 'Cut Obsession with Gold Imports'
Sunil Bharti Mittal, chairman of Bharti Airtel, backed Prime Minister Narendra Modi’s call to curb gold imports and accelerate domestic investment. Speaking at the CII Annual Business Summit, he urged Indian industry to "double down" on capital spending amid global energy volatility. Mittal disclosed...
Citizens Targets Tweaks to Boost CX
Citizens Bank is exploring ways to boost value for retail customers as it targets the mass‑affluent segment. Head of consumer banking Matt Boss says the lender is making “small tweaks” daily, highlighted by a new mobile app with 400 screens,...
Venkatesan New CEO At Momentive Software
Ravi Venkatesan has been appointed chief executive officer of Momentome Software, a nonprofit‑focused technology platform based in St. Petersburg, Florida, and will retain his seat on the board. He succeeds interim CEO Dustin Radtke, who will transition to chief AI...
Maersk Q1 2026: More Cargo, Less Margin!
Maersk reported a drop in Q1 2026 revenue and earnings despite moving record cargo volumes. The carrier’s ocean freight segment saw margins shrink as weakened pricing power outweighed higher utilization and lower unit costs. Strong performance in its logistics and...
EXCLUSIVE: WPP US President to Step Down Amid Strategy Reset
WPP’s U.S. president Michael Houston will step down after a 24‑year tenure, moving into a senior advisor role. CEO Cindy Rose framed the move as part of a “natural and planned evolution” as the holding company reshapes its operating model....
New Rexford Industrial Realty CEO Laura Clark On the Southern California Market
Rexford Industrial Realty appointed longtime COO Laura Clark as CEO on April 1, 2026, amid activist pressure from Elliott Investment Management and the departure of its co‑founders. The REIT has abandoned its $2 billion‑a‑year acquisition binge in favor of a capital‑recycling model that...
Caesars to Operate Westgate SuperBook, Consolidating Vegas Sports‑Betting
Caesars Entertainment announced it will assume operational control of the Westgate SuperBook sportsbook, pending regulatory approval and slated for completion before the upcoming football season. The move folds one of Las Vegas’s most storied independent books into Caesars’ growing sportsbook...
AMD Q1 2026 Revenue Jumps 38% as $120 B Server‑CPU Market Opens
Advanced Micro Devices reported a 38% year‑over‑year revenue increase to $10.3 billion in Q1 2026, driven by a 57% surge in data‑center sales. CEO Lisa Su announced a revised $120 billion addressable market for server CPUs by 2030, underscoring a strategic shift for...
Elon Musk Sues OpenAI for $134 Billion, Exposing Founder Feud
Elon Musk has filed a $134 billion lawsuit against OpenAI, accusing co‑founder Sam Altman and CTO Greg Brockman of betraying the nonprofit promise that attracted his early funding. The case, now in federal court, lays bare a deep‑seated leadership conflict that...
CSL Ltd Slashes FY2026 Forecast, Flags $5 B Impairments as Shares Dive 20%
Interim CEO Gordon Naylor announced that CSL Ltd now expects FY2026 revenue of about $15.2 billion and underlying net profit of $3.1 billion, down from prior guidance. The company also disclosed roughly $5 billion in additional non‑cash impairments, triggering a 20% share plunge...
Hain Celestial Losses Persist as Sales Extend Declines
Hain Celestial reported a third‑quarter net loss of $106 million, narrowed from $135 million a year earlier, as it continues a turnaround under CEO Alison Lewis. The company sold its North American snack portfolio, including Garden Veggie and Terra chips, to Snackruptors...
Nutrabolt Appoints Andrew Archambault as President and CEO
Nutrabolt, the global active‑nutrition company behind C4 Energy, Bloom, Cellucor and Xtend, announced Andrew Archambault as its new president and chief operating officer. Archambault, a veteran with more than three decades in consumer‑packaged goods, most recently led the U.S. beverage...
How Lyntris Centers Its Tech on 'Left of Bang'
Lyntris, formed by merging Accelint Holdings and Vitesse Systems, targets the early‑warfare "left of bang" space where threat identification and decision‑making occur. Backed by Trive Capital, the company claims involvement in roughly 200 U.S. Defense Department and allied programs. Its...
C4 Energy Parent Hires Hershey Vet as COO
Andrew Archambault, a veteran of the consumer‑packaged‑goods sector, has been named president and chief operating officer of Nutrabolt, the owner of C4 Energy, Cellucor and Xtend. Archambault left his role as U.S. president at Hershey in April after a brief...
Lunar Co-Founder Exits CEO Role After 11 Years
Lunar co‑founder and CEO Ken Villum Klausen is stepping down after eleven years, handing the role to former Saxo Bank and Danske Bank executive Søren Kyhl in early June. Klausen cites the bank’s strong team, healthy business and ambitious next phase...
An Ode to Vicki Hollub
Vicki Hollub is retiring after a decade that reshaped Occidental Petroleum. She steered Oxy through a $57 billion Anadarko acquisition, a $12 billion CrownRock deal, and a disciplined deleveraging campaign that cut debt to $13.8 billion, targeting $10 billion by year‑end. Production rose from...
Ex-Alpro CEO Joins Board of Italian Plant-Based Dairy Startup Dreamfarm
Dreamfarm, a Parma‑based plant‑based dairy startup, appointed former Alpro CEO Sue Garfitt to its board as an independent director. Garfitt brings decades of category‑building experience as Dreamfarm prepares to scale across Europe after posting revenue of about €2 million ($2.2 million) in...
Marie Oh Huber: Governing Through Disruption
In this episode, Evan Epstein talks with Marie O. Huber, former chief legal officer of eBay and Agilent and current director at Portland General Electric, about the evolving landscape of corporate governance. They explore shareholder activism, lessons from eBay’s transformation,...
Oxin Growers Appoints Mark Schreuders as Managing Director
Oxin Growers, a Dutch agricultural cooperative, has appointed Mark Schreuders as managing director effective 19 May 2026. Schreuders, formerly chief commercial officer at Coroos Netherlands and vice‑president of sales at Arla Foods, brings extensive commercial and cooperative experience. The board says his...
Is Nextdoor’s Positive Earnings Call the Sign of a Turnaround?
Nextdoor reported a "standout quarter" on its Q1 earnings call, posting $62 million in revenue, a 14% year‑over‑year increase, and an all‑time high of 22.3 million weekly active users. The company narrowed its net loss to $11 million from $22 million a year earlier...
Google-Backed Adda247 Lays Off over 200 Employees
Google‑backed edtech startup Adda247 announced it has laid off more than 200 employees, roughly 20% of its workforce, as part of a restructuring ahead of a planned IPO. The cuts affect product, design, content, and teaching functions and are expected...
Post Holdings New CEO Outlines Pricing Strategy Pitfalls
Post Holdings’ incoming CEO Nicolas Catoggio warned that low‑single‑digit inflation may be absorbed, but higher cost pressures from the Middle East could force targeted price increases. He cited recent price hikes on the 9Lives pet‑food brand that triggered stronger elasticity...
Playtika Leaves Social Casino Behind to Focus on Casual Hits Like Disney Solitaire
Playtika announced that its transformation into a casual‑first mobile publisher is essentially complete, with casual games now accounting for 76% of its revenue mix. The company posted Q1 FY26 revenue of $744.7 million, a 5.5% year‑over‑year increase, and direct‑to‑consumer (DTC) revenue...
Former Lauritzen Boss to Lead Board of Danbulk
Martin Egvang, former CEO of Lauritzen Bulkers and Integrity Bulk, has been appointed chairman of the board for the newly formed Danish dry‑bulk carrier Danbulk. The board also includes vice‑chairman Kim Larsen, board member Martin Kristensen, and CEO Thomas Nielsen. Danbulk highlighted Egvang’s extensive shipping experience...
GL Homes Accelerates Florida Expansion, Guided by Founder’s Vision
GL Homes announced an accelerated rollout of new residential communities across key Florida markets, citing steady demand and the continued guidance of founder‑chairman Itzhak Ezratti. The builder’s disciplined, community‑focused approach aims to align with evolving buyer preferences for lifestyle‑driven neighborhoods.
Burger King Revamps Whopper via Direct Consumer Calls, Boosts Sales 5.8%
Burger King president Tom Curtis published his personal phone number, took 1,800 inbound calls and routed more than 70,000 consumer messages into product decisions. The feedback drove the launch of the "Elevated Whopper," which helped the chain post a 5.8%...
Ex-Prime Video UK Boss Chris Bird Launches Two AI Ventures, One With ‘The Boy Who Lived’ Director Dan Hartley
Former Prime Video UK chief Chris Bird has launched two AI ventures aimed at content creators. HawksHead AI offers a predictive analytics platform that uses proprietary AI and synthetic panels to forecast audience response and guide script, casting and creative...
Meta to Cut 8,000 Jobs, AI Worker Replaces Dozens
Meta disclosed plans to eliminate roughly 8,000 positions in May, arguing that a single AI‑powered system can now perform tasks that previously required dozens of engineers. The move ties the layoff to a $145 billion AI spending plan and signals a...