CEO Financial News

As more and more advisors consider breaking away to go independent, and with RIAs expected to control one-third of intermediary asset market shares, the question remains: what about those who have an annuity-based book of business?

Gladstone Group, a notable entity in the financial services sector focusing on mergers and acquisitions, strategic growth consulting, and executive search, has come out with new forward-looking research on trends in the M&A space.

Sony Pictures and Apollo Global Management have expressed interest in buying Paramount Global for $26 billion

Microsoft CEO Satya Nadella says the company will invest $2.2 billion over the next four years in new cloud and artificial intelligence infrastructure in Malaysia

An administrative law judge has ruled that Amazon CEO Andy Jassy violated labor law by making certain anti-union comments during media interviews two years ago

Exxon Mobil’s $60 billion deal to buy Pioneer Natural Resources has received clearance from the Federal Trade Commission, but the former CEO of Pioneer was barred from joining the new company’s board of directors

Citroen, which has had limited success with the models launched in India so far, is hoping to turn around its fortunes in the country with the Basalt — a mid-size coupe SUV that would go on sale in the second half of this year. The latest offering from the Stellantis group firm captures the learnings it has had in a market it considers the toughest in the world, said Thierry Koskas, global brand CEO of Citroen. «If you succeed in India, it means you can succeed everywhere in the world,» Koskas told ET. «I have been visiting India for 20 years and I am impressed by the rise of customer expectation in terms of features. The expectations of the customer are even higher than what you can see, for example, in Europe,» he said.

Loblaw’s new chief executive, as well as chairman Galen Weston, pushed back on what they called “misguided criticism” of the grocer as a push to boycott the company gains steam online.

Air Canada lost $81 million in its first quarter, falling below analysts’ expectations even as revenue and capacity ramped up.

Dabur India on Thursday said that all its spices comply with the regulations set up by FSSAI for Indian markets. «All our spices comply with the regulations set up FSSAI for Indian markets and by the Spice Board of India for the overseas markets,» said Mohit Malhotra, CEO of Dabur India. All export consignments are tested by the Spice Board and shipped only once they comply with their regulations and specifications, he said.

Citroen expects India to become its second biggest market after home country in the next five years, for which it will accelerate network expansion besides introducing new products, company global CEO Thierry Koskas said on Thursday. The company will be incorporating learnings from the past few years of its presence in India to attract more consumers besides looking to rope in a brand ambassador to push the brand's visibility in India. «India is an important market for Citroen and in a few years, it will become the second biggest market for us after our home market France,» Koskas told PTI here in an interview. At the moment, India is «probably in the top 10 markets for Citroen, more towards the 10th rather than upwards», he said, adding, «So, there is a lot of room for improvement, but I think it's absolutely possible.»

Wipro on May 2 elevated Hari Shetty as its Chief Strategist and Sales Excellence Officer from immediate effect, the company informed in an exchange filing. This is the first CXO-level appointment made by the Bengaluru-headquartered firm after the new CEO Srinivas Pallia who took charge this month on April 6 following the resignation of former CEO Thierry Delaporte.

Coforge’s net profit declined by 6% quarter on quarter (QoQ) at Rs 223 crore in the March quarter of FY24. The profit for the company grew by a whopping 94.8% on-year, from a profit of Rs 115 crore in Q4 FY23. The IT firm’s annual net profit for fiscal 24 stood at Rs 808 crore, up 16.5% year on year. Consolidated revenue stood at Rs 2,358 crore in the just concluded quarter, up 1.5% sequentially and 8.7% on-year. Margins stood at 19% in Q4 up from 18% in Q3 FY24.

K-pop report, Min Hee-Jin, the CEO of the Korean agency ADOR, has requested the management to terminate the contracts of the members of the K-pop girl group New Jeans without interference from HYBE. This development comes after Min Heejin had a massive fallout with HYBE after rumours of her trying to take over ADOR went viral online. ADOR, which is a sub-label of the K-Pop giant HYBE, earlier launched an audit of ADOR to hold Heejin accountable. Traditionally, decisions concerning the exclusive contracts of prominent artists are made during shareholders' meetings. Previously, artists like BTS and BLACKPINK have announced the renewal of their exclusive contracts with statements such as «The board meeting approved the renewal of the members' exclusive contracts» and «The board passed a resolution to renew the group's exclusive contract.»

Peloton is cutting about 400 jobs worldwide as part of a restructuring effort and its CEO Barry McCarthy is stepping down after two years as the company continues to work on turning around its business. Shares jumped more than 11 per cent before the market open on Thursday. Peloton has been working on a significant rebranding since last year, shifting its identity as a seller of luxury exercise bikes and equipment to heath technology for all.

MikeRoweWorks Foundation CEO Mike Rowe argues that four-year college degrees are no longer seen as a source of pride by graduates on Varney & Co.

Coforge on 2 May approved the acquisition of a 54 per cent stake in IT major Cigniti Technologies at a per share price of ₹1,415, the company said in its regulatory filing. The firm added that the acquisition process is expected to be completed by Q2FY25, subject to regulatory approvals by SEBI. The firm believes that the acquisition of Cigniti will not only help it grow to US$ 2 billion by FY27 but, ensure that the Coforge’s operating margins improve by 150-200 bps by FY27 itself.

Coforge reported a marginally smaller-than-expected fourth-quarter revenue on Thursday amid overall tepid tech spending from clients. India's $254 billion IT sector has been struggling in recent quarters as clients cut spending on non-essential projects. Macro headwinds and high-inflation environment have made clients look at contracts that cut down their existing costs.

MUMBAI : When Freshworks Inc. first brought in Dennis Woodside as its president in September 2022, there were already murmurs on whether founder and chief executive Girish Mathrubootham would be stepping aside. A former CEO of Motorola Mobility and chief operating officer of Dropbox, Woodside, 55, was already a known name among Silicon Valley investors and the analyst community.

Andhra Pradesh Chief Electoral Officer (CEO) Mukesh Kumar Meena on Thursday published the final electoral roll of the state in the run-up to the forthcoming polls, pegging the total number of voters over 4.14 crore, which rose by nearly six lakh from January 1. In exact figures, the total number of voters in the southern state are 4,14,01,887, who include 2.02 crore male voters, 2.1 crore female voters, 3,421 third gender voters and 68,185 service electors. «Voter list has been finalised and frozen. On the day of freezing the list, April 25, including all categories of voters, service voters, male, female and third gender voters, there are 4,14,01,887 voters,» said Meena, addressing a press conference at the secretariat here. The CEO noted that the electoral rolls witnessed an increase by 5,94,631 voters between January 1, 2024 and April 1. The voter list was updated until the last day of receiving the nominations, April 25. Meena called on the electorate to check their names and polling stations at https://electoralsearch.eci.gov.in/ and on the voter helpline app. Though more than 7.2 lakh voters are eligible for home voting under the categories of voters above 85 years of age and specially-abled, Meena said only 28,591 such voters availed this facility.

Minor Hotels, a global hotel owner and operator with more than 540 properties in 56 countries said on Thursday that it plans to expand its presence in the Indian hospitality market and is targeting 50 new openings within the next decade. The group said it will focus its strategy on the upper-upscale and luxury hotel segments, where it expects strong interest from owners for its Anantara, Avani, and NH Collection brands. Minor said for Anantara Hotels & Resorts, the group is building on 'core brand differentiators' by targeting opportunities in Ayurvedic wellness retreats, wilderness lodges, and historical palaces. It also believes Avani Hotels & Resorts is well positioned to fill a significant gap in the lifestyle hotel space across India, while NH Collection Hotels & Resorts will prove attractive for upper- upscale conversion opportunities.