CEO

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Starbucks Founder Back in CEO Saddle

Will pare back coffee giant after sales stall and stocks tumble

(Newser) - Starbucks reacted to slow sales and new competition today by bringing back founder Howard Schultz as CEO, replacing folksy chief exec Jim Donald. "We must address the challenges we face and we know what has to be done," Schultz said. Schultz vows to reignite sales by trimming back...

Goldman Sachs Awards CEO $68M Bonus
Goldman Sachs Awards CEO $68M Bonus
Dec 21, 2007 8:07 PM CST

Goldman Sachs Awards CEO $68M Bonus

Blankfein nets huge payday after bank avoids subprime tank

(Newser) - Goldman Sachs gave CEO Lloyd Blankfein a $67.9 million bonus for 2007, believed to be one of the largest such payouts in history, MarketWatch reports. The bonus includes $26.8 million in cash and $41.1 million in stocks. Goldman succeeded this year while rivals foundered in the subprime...

Morgan Stanley CEO Feels Heat
Morgan Stanley CEO Feels Heat
Dec 20, 2007 11:37 AM CST

Morgan Stanley CEO Feels Heat

After 'embarassing' quarter, Mack could lose his swagger— and his job

(Newser) - When John Mack became Morgan Stanley’s CEO in 2005, he told the company to take more risks. “You’ve lost your swagger,” he told his traders. Now, after several questionable moves and yesterday's staggering $9.4 billion writedown, swagger isn’t looking so hot—and Mack could...

Being a Tech CEO Means Having to Say You're Sorry

Apologizing seen as key skill in Silicon Valley

(Newser) - Saying "sorry" has become a necessary skill for tech execs, Forbes reports—from AMD's CEO, who apologized yesterday for delaying its latest chip launch, to Facebook's founder, who begged forgiveness after an advertising program violated users' privacy. The frequency of technology leaders' public contrition testifies to the power of...

UnitedHealth's Ex-CEO Will Pay Back $620M

Ousted Maguire settles claims over backdating stock options

(Newser) - UnitedHealth's ex-CEO will surrender another $420 million in stock options and retirement pay to settle claims in a scandal over stock-option backdating. William McGuire already had forfeited $200 million to UnitedHealth when he was ousted last year, the Wall Street Journal reports, making his giveback one of the largest in...

Struggling Sprint Rejects $5B Offer
Struggling Sprint
Rejects $5B Offer
Nov 30, 2007 4:57 AM CST

Struggling Sprint Rejects $5B Offer

Former CEO's Nextel legacy remains divisive

(Newser) - A bid by SK Telecom and Providence Equity to invest $5B in Sprint Nextel and install former Sprint chairman Tim Donahue as the company CEO has met with swift rejection from the Sprint board. The move comes as Sprint, which has seen its stock plumet 36% since June, searches for...

Red Cross Prez Forced Out for 'Relationship'

Link to female worker 'punch in stomach,' says group official

(Newser) - The president and CEO of the Red Cross was forced to resign yesterday for having an inappropriate "personal relationship with a subordinate employee" just six months after he was hired. "This is a huge punch in the stomach," said an organization official. Mark Everson was the Red...

NBC Prez Will Party for His Right to Fight

Fixing the network is Ben Silverman's day—and night—job

(Newser) - Whether it's his tendency to casually insult other executives, his "totally sick" parties, or his precocious ascension from independent producer to network boss, NBC President Ben Silverman has acquired a devoted posse of friends—and an ample group of enemies. Esquire profiles the brash 37-year-old, self-styled the "luckiest...

Black Fortune 500 CEOs in Short Supply

Departure of Merrill, Time Warner chiefs knocks total to four

(Newser) - The departure of Dick Parsons from Time Warner and Stan O'Neal from Merrill Lynch has reduced the already sparse population of African-American CEOs running Fortune 500 companies to an extremely paltry four, reports AP. CEOs of any color have a short shelf life, and the small numbers of black chiefs...

Same Missteps Felled 2 Wall Street Stars

Prince, O'Neal gambled they could ride out subprime storm

(Newser) - With the CEOs of two financial giants making their exits within a week of each other, the Financial Times looks at the similarities in the undoing of Citigroup's Chuck Prince and Merrill Lynch's Stan O'Neal. Both struggled unsuccessfully to change corporate cultures, making enemies along the way, and both invested...

It's Official: O'Neal Out
It's Official: O'Neal Out
Oct 30, 2007 10:42 AM CDT

It's Official: O'Neal Out

CEO ousted after subprime writedowns, backdoor merger talks

(Newser) - Merrill Lynch CEO Stan O’Neal is retiring effective immediately, the company announced today, shocking no one. Merrill characterized the ouster as a mutual decision, but massive subprime losses and takeover indiscretions clearly marked O’Neal for the chopping block. Terms of the exit package were not disclosed, but it's...

Parsons Set to Leave Time Warner
Parsons Set
to Leave
Time Warner
Oct 26, 2007 2:55 PM CDT

Parsons Set to Leave Time Warner

Media giant denies report; current No. 2 likely successor

(Newser) - Time Warner CEO Richard Parsons is about to announce his departure, sources tell the Times of London, and will hand the reins to current second banana Jeff Bewkes. In his 5-year-plus tenure, Parsons held together the media behemoth after the much-ballyhooed AOL merger went south. Bewkes is expected to shake...

Stock Options Make for Risk-Happy CEOs

Outright ownership leads to more cautious executives, study shows

(Newser) - Companies compensating their CEOs with stock options should prepare for a bumpy ride, as those CEOs are more likely to take big chances that backfire, a new study finds. Shareholders took extreme losses from more than 10% of option-heavy CEOs, compared to 6.8% who saw big gains. The study's...

Activist Investor Amps Up for Sprint Fight

CEO slayer wants change at carrier

(Newser) - Ralph Whitworth isn’t happy with Sprint’s priorities or its management, and he’s one shareholder the wireless carrier can’t just laugh off. The principal of Relational Investors has parlayed small shares in Home Depot and Sovereign into the sacking of those corporations’ CEOs; now he says he’...

Study Links CEO's Private Life to Profits

Company downturns often follow deaths in executives' families

(Newser) - A new study adds to the growing pool of data showing how intimately a company's success can be linked to the life of its CEO, the Wall Street Journal reports. The latest finding indicates that a firm's profitability drops following the death of a CEO's close family member—though the...

What CEOs Read Before They Lead
What CEOs Read Before They Lead
Jul 22, 2007 1:42 PM CDT

What CEOs Read Before They Lead

Business leaders find refuge and resource in luxury book collections

(Newser) - Scanning the personal libraries of CEOs, tech gurus and venture geniuses reveals not only what they read but how they think, the Times reports. The well-heeled have taken to housing their exorbitant collections in luxurious, custom-built, private spaces. And if you read between the lines, the literature tends to reflect...

SEC Probes Yahoo Posts of Whole Foods CEO

SEC probes executive's posts on Yahoo! Finance message board

(Newser) - John Mackey, the Whole Foods CEO who posted attacks on a competitor in Yahoo financial forums, is under scrutiny by the SEC for his anonymous mischief-making. The federal agency is informally investigating whether the posts violate "fair disclosure" rules. They could be a problem for Mackey if officials find...

Motorola Chief Walks On Razr&rsquo;s Edge
Motorola Chief Walks On
Razr’s Edge
Jul 12, 2007 11:22 AM CDT

Motorola Chief Walks On Razr’s Edge

Second straight quarterly loss fans firing flames for Zander

(Newser) - Motorola posted its second consecutive quarterly loss yesterday, amplifying calls for the ouster of CEO Ed Zander. Despite the popularity of the Razr handset, the company has likely ceded its second-place position in the cellphone wars to Samsung, and now analysts are doubting it'll turn a profit this year.

Kevin Reilly Quits NBC
Kevin Reilly Quits NBC
May 29, 2007 6:35 AM CDT

Kevin Reilly Quits NBC

Entertainment prez leaves struggling network; Zucker recruits Reveille head

(Newser) - Kevin Reilly is bolting from his gig as NBC's entertainment president, reports Variety, after network capo Jeff Zucker recruited Reveille head Ben Silverman for a position over him. Reilly—who produced several hits including Heroes and Deal or No Deal—will take his multi-million dollar severance package and most likely...

Hillary Tied to Shady Donor
Hillary Tied to Shady Donor
May 26, 2007 7:10 PM CDT

Hillary Tied to Shady Donor

Lawsuit againt CEO reveals ethically questionable contributions

(Newser) - The CEO of infoUSA, a large consumer information broker, has given Bill and Hillary Clinton almost $3 million over the past four years. But a recent legal dustup between Vinod Gupta and his company's shareholders over extravagant spending and political donations is revealing a relationship with the Clintons that, according...

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