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    1. Shares in one of Britain's Biggest Coffee Chains Surge 20% after Coca-Cola Announces $5.1 Billion Takeover

      Shares in one of Britain's Biggest Coffee Chains Surge 20% after Coca-Cola Announces $5.1 Billion Takeover
      • US beverage giant Coca-Cola will buy British coffee shop chain Costa in a surprise acquisition.
      • Costa, which is currently owned by Whitbread, is being sold for £3.9 billion ($5.1 billion).
      • Coca-Cola currently has no presence in the coffee market, and wants to use the deal to expand into the space.
      • Shares in Whitbread jump almost 20% at the open on the news...
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    2. A Board Member of MoviePass' Parent Company Has Resigned and Accused Management of Withholding Material Information 'For Several Months'

      A Board Member of MoviePass' Parent Company Has Resigned and Accused Management of Withholding Material Information 'For Several Months'

      Carl Schramm has resigned from the board of MoviePass' parent company, Helios and Matheson Analytics, the company disclosed in a Securities and Exchange Commission filing Thursday.

      In Schramm's resignation letter, he said that for several months he'd raised "questions and expressed concerned about the corporate governance" of Helios, and he accused management of withholding material information from the board for months...

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    3. 24 Mind-Blowing Facts About Warren Buffett and his $87 Billion Fortune

      24 Mind-Blowing Facts About Warren Buffett and his $87 Billion Fortune
      • Warren Buffett, the chairman and CEO of Berkshire Hathaway, has a net worth of $87.1 billion.
      • He turns 88 years old on Thursday, August 30.
      • Buffett is a generous philanthropist having given away more than $27 billion in the last decade.
      • The billionaire is known for his frugal habits, like his daily McDonald's breakfast and insistence on using a flip phone...
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    4. Tim Cook Has Collected Over $650 Million in Apple Stock Since he Became CEO as he's Led the Company to be Worth Over $1 Trillion

      Tim Cook Has Collected Over $650 Million in Apple Stock Since he Became CEO as he's Led the Company to be Worth Over $1 Trillion
      • Tim Cook cashed in $121 million in Apple stock grants on Tuesday.
      • He's collected over $650 million in Apple stock since he took over as CEO in 2011.
      • Among tech executives, only Facebook CEO Mark Zuckerberg has been paid more over that time period.

      Apple CEO Tim Cook recently cashed in $121 million in stock grants, with the majority of those proceedings going towards taxes, according to an SEC filing on Tuesday...

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      Mentions: CEO SEC Google
    5. Ousted Papa John's Chairman John Schnatter is Accusing the Pizza Chain's new CEO of Misconduct

      Ousted Papa John's Chairman John Schnatter is Accusing the Pizza Chain's new CEO of Misconduct
      • Papa John's founder John Schnatter, who is trying to regain control of the pizza chain after resigning as chairman in July, accused Chief Executive Officer Steve Ritchie's "inner circle" of sexual misconduct.
      • The company denied that allegation on Tuesday.
      • In a letter to franchisees on Monday and published on Schnatter's website savepapajohns.com, Schnatter said PapaJohn's human resources department had evidence of harassment and intimidation but he did not provide evidence himself...
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    6. VMware is Spending $500 Million to Acquire Startup That Will Boost its Cloud Business

      VMware is Spending $500 Million to Acquire Startup That Will Boost its Cloud Business

      VMware will acquire CloudHealth Technologies, the company announced Monday.

      • VMware will place approximately $500 million for the startup, sources told Reuters.
      • CloudHealth Technologies will help VMware in its strategy to move toward cloud-based software services.

      VMware will acquire CloudHealth Technologies as part of the information technology company's continued push into cloud-based software services, the company announced on Monday...

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    7. Fred Wilson: Being Public

      Fred Wilson: Being Public
      • The back and forth that Elon Musk did over the last few weeks about being public begs the question about whether the challenges of operating a public company outweigh the benefits.
      • The pressure of quarter to quarter execution is hard on a team. But running a company is hard.
      • People are always working against you. Your competitors are working against you. The media may be working against you. The regulators may be working against you...
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    8. The $67 Billion Cigna-Express Scripts Merger Just Passed a Key Hurdle (CI, Esrx)

      The $67 Billion Cigna-Express Scripts Merger Just Passed a Key Hurdle (CI, Esrx)
      • Cigna and Express Scripts shareholders have voted to approve the companies' $67 billion merger.
      • The deal combines a health insurer and a company that helps negotiate lower prices for prescription drugs in the form of rebates on behalf of health plans.
      • The deal was in jeopardy for a week after billionaire Carl Icahn came out against the deal, saying it "may well rival the worst acquisitions in corporate history." He ultimately reversed his course...
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    9. The Rise of Larry Ellison, the Jet-Setting 74-Year-Old Billionaire Founder of Oracle

      The Rise of Larry Ellison, the Jet-Setting 74-Year-Old Billionaire Founder of Oracle

      Last week, Larry Ellison, the founder and chairman of the international giant Oracle, turned 74 years old — and remains one of the most interesting figures in tech.

      Whether yacht racing or buying whole Hawaiian islands or trash-talking competitors, it's always a wonder to see what Ellison will do next. At the time of writing, Forbes pegs his net worth at about $60 billion...

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      Mentions: CEO Google Amazon
    10. $3.2 Billion Self-Driving Car Company Zoox Has Ousted its CEO

      $3.2 Billion Self-Driving Car Company Zoox Has Ousted its CEO
      • Tim Kentley-Klay has been ousted as CEO of high-profile self-driving car startup Zoox.
      • Kentley-Klay was voted out by Zoox's board, Bloomberg reported.
      • He had no prior experience in cars or artificial intelligence before founding Zoox in 2014 with Jesse Levinson.

      The CEO of Zoox has left in a management shake-up at the the high-profile, well-funded, and idiosyncratic self-driving car startup...

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      Mentions: Management CEO Google
    11. The Special Committee of Tesla's Board Has Hired a PR Firm as the Company Explores Going Private

      The Special Committee of Tesla's Board Has Hired a PR Firm as the Company Explores Going Private
      • A special committee of Tesla's board of directors has hired the public relations firm Joele Frank as the company attempts to go private, Fox Business first reported.
      • The Fox Business reporter Charles Gasparino said on Twitter that the firm has been retained for "image repair."
      • A Joele Frank representative confirmed to Business Insider that it is working with the special committee...
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    12. PepsiCo is Buying SodaStream for $3.2 Billion in Cash

      PepsiCo is Buying SodaStream for $3.2 Billion in Cash

      REUTERS/Ammar Awad

      • PepsiCo on Monday announced plans to buy home carbonation system maker SodaStream.
      • PepsiCo will pay $144.00 per share in cash, a 32% premium.
      • Israeli-based SodaStream listed on the NASDAQ in 2010.
      • PepsiCo CEO Indra Nooyi, who’s led the business for 12 years, announced earlier this month that she’d step down, having led a push away from sugar-based drinks and healthier options...
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    13. Elon Musk Says he has No Plans on Stepping Down as Chairman and CEO of Tesla

      Elon Musk Says he has No Plans on Stepping Down as Chairman and CEO of Tesla
      • Tesla CEO Elon Musk says he has no plans to relinquish his dual role as chairman and CEO.
      • Musk is under intense scrutiny by the US Securities and Exchange Commission and is facing lawsuits over his tweets last week about taking his company private.

      Elon Musk has no plans to relinquish his dual role as chairman and chief executive officer of Tesla, he said in an interview with the New York Times on Thursday...

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      Mentions: CEO SEC Tesla
    14. The CMO of $30 Billion Financial Giant State Street Says to be Successful, You Have to be the CEO of Your Own Brand

      The CMO of $30 Billion Financial Giant State Street Says to be Successful, You Have to be the CEO of Your Own Brand
      • In the eyes of the world "Fearless Girl" — the bronze statue of a defiant girl in front of the Wall Street bull — is the biggest marketing coup in recent history. Not for Hannah Grove.
      • In this interview with Business Insider CEO Henry Blodget, the State Street CMO talks about how Fearless Girl represents a call for greater governance and stewardship by women...
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    15. Members of Tesla's Board of Directors are Lawyering up as Crisis Around Elon Musk Deepens

      Members of Tesla's Board of Directors are Lawyering up as Crisis Around Elon Musk Deepens
      • Some members of Tesla's board of directors are hiring lawyers to protect themselves in the ongoing fallout from CEO Elon Musk's public declarations about taking the company private.
      • Fellow board members are also urging Musk to cool it with the public statements about a go-private deal, according to a New York Times story published Tuesday night.
      • By all appearances, Musk has ignored that advice...
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      Mentions: CEO SEC Twitter
    16. Meet the 3 Tesla Board Members Set to Decide on Elon Musk's Go-Private Plan

      Meet the 3 Tesla Board Members Set to Decide on Elon Musk's Go-Private Plan
      • Tesla's board of directors has formed a special committee to examine CEO Elon Musk's preference to take the company private, according to a statement on the electric-car maker's website.
      • Three independent board members — Brad Buss, Robyn Denholm, and Linda Johnson Rice — will sit on the special committee.
      • While Musk has not yet presented a formal proposal to take Tesla private, he will need the committee's approval before such a move can occur...
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    17. Billionaire Carl Icahn Has Changed his Mind on Cigna's $52 Billion Purchase of Express Scripts

      Billionaire Carl Icahn Has Changed his Mind on Cigna's $52 Billion Purchase of Express Scripts
      • Carl Icahn has dropped his fight to stop health insurer Cigna’s purchase of Express Scripts, a pharmaceutical company.
      • Last week, Icahn said he would try and solicit proxy votes to block the $52 billion deal.
      • Icahn told CNBC that blocking the deal would be impossible and "there’s no point in fighting just to fight."

      Activist investor Carl Icahn has reversed his position on US health insurer Cigna’s purchase of pharmaceutical subscription company Express Scripts...

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    18. Some of Tesla's Board Members Were Reportedly 'Totally Blindsided' by Elon Musk's Tweet About Going Private

      Some of Tesla's Board Members Were Reportedly 'Totally Blindsided' by Elon Musk's Tweet About Going Private
      • Elon Musk's decision to tweet that he was considering taking Tesla private reportedly caught the company's own board of directors off-guard, The New York Times reported Monday night.
      • That August 7 tweet caused Tesla's stock to skyrocket to $380 per share that day.
      • In the days that followed, the SEC got involved, reportedly investigating Musk's online musings about taking the company private.
      • The fallout from that tweet follows an extended run of public missteps by the Tesla CEO...
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      Mentions: CEO SEC Twitter
    19. The Strange Story of a Goldman Sachs Whistleblower Who's Taking Aim at Top Execs' Dealmaking

      The Strange Story of a Goldman Sachs Whistleblower Who's Taking Aim at Top Execs' Dealmaking
      • Christopher Rollins, a 16-year veteran of Goldman Sachs, sued the bank this week over his termination.
      • Rollins claimed he was unfairly terminated over his role in a series of transactions involving an unnamed financier who had legal issues in the past. He's seeking $50 million in damages.
      • The lawsuit set tongues wagging on Wall Street and in the City of London, given that it names several of Goldman Sachs' most senior staff in London...
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    20. Rite Aid and Albertsons Have Called Off Their $24 Billion Merger

      Rite Aid and Albertsons Have Called Off Their $24 Billion Merger
      • Pharmacy chain Rite Aid and grocer Alberstons have called off their $24 billion merger shortly after a shareholder advisory firm opposed the deal.
      • The U.S. grocer had hoped that the deal, which was seen as part of a wave of consolidation in the drug retailing sector, would help Albertsons become a formidable competitor to CVS Health and Walgreens.
      • Rite Aid fell as much as 11% Thursday morning on the news...
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    21. Morgan Stanley: Big banks like JPMorgan have huge 'key man' risk

      Morgan Stanley: Big banks like JPMorgan have huge 'key man' risk
      • Morgan Stanley analysed "key man" risk, looking at the damage that might be done if an influential CEO suddenly steps down.
      • Asset managers, software companies, and large-cap banks have the highest risk, according to the study.
      • The possible departure of JPMorgan CEO Jamie Dimon was highlighted as significant key man risk in the banking sector.

      Big banks and software companies are among the most exposed to "key man" risk, according to a recent note from Morgan Stanley...

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      Mentions: Management CEO CFO
    22. Snap’s Shareholder Meeting Was Less Than Three Minutes Long Because Evan Spiegel Controls so Much of the Company Anyway

      Snap’s Shareholder Meeting Was Less Than Three Minutes Long Because Evan Spiegel Controls so Much of the Company Anyway
      • Snap held its annual shareholder meeting on Thursday.
      • It was a brief affair, lasting less than three minutes.
      • The duration and format of the meeting demonstrated CEO Evan Spiegel's control over the company.

      Evan Spiegel just demonstrated another one of the great perks of being king — short meetings that you don't even have to attend in person...

      Read Full Article
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