CEOs

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Wayfair CEO Tries to Inspire With Message on 'Laziness'

Niraj Shah encourages employees to work longer hours: 'Winning requires hard work'

(Newser) - If you're a Wayfair employee and hoping that 2024 will bring a more relaxed workplace, think again. In a recent email to workers, CEO Niraj Shah delivered what The Street calls a "harsh wake-up call" that involved pushback against slacking. "Working long hours, being responsive, blending work...

Suit: Tech CEO Led Me Into 'Dark Abyss of Sexual Horror'

Christian Lanng, ex-chief of Tradeshift, has denied the rape, torture, harassment allegations

(Newser) - The former executive assistant for a fired tech CEO has now filed a lawsuit against him alleging he made her sign a "slave contract," then harassed, tortured, and sexually assaulted her. Per the Mercury News , the complaint against Christian Lanng, who was fired from business software company Tradeshift...

At OpenAI, a Surprise 'Leadership Transition'
OpenAI Board
Abruptly Ousts
CEO Sam
Altman
THE RUNDOWN

OpenAI Board Abruptly Ousts CEO Sam Altman

Says 'he was not consistently candid in his communications'; co-founder Greg Brockman quits

(Newser) - In news that shook Silicon Valley on Friday, Sam Altman, the CEO of ChatGPT maker OpenAI, was abruptly fired, though no one yet knows quite why. The Verge and the AP report that the company's board of directors made the move, releasing a statement that noted a "leadership...

One of America's Best-Paid CEOs Abruptly Steps Down

'WSJ' reports that Kiwi Camara left CS Disco after alleged groping incident

(Newser) - In July, Kiwi Camara made it onto a list of America's 10 highest-paid CEOs , with a 2022 compensation package higher than that of Apple's Tim Cook. But he abruptly resigned this month, giving up stock options that were worth around $110 million at one point. CS Disco, which...

Ex-Disney CEO: Working There Was '3 Years of Hell'
Ex-Disney CEO: Working
There Was '3 Years of Hell'
THE RUNDOWN

Ex-Disney CEO: Working There Was '3 Years of Hell'

CNBC reports on friction between former chief Bob Chapek, former/current chief Bob Iger

(Newser) - When Bob Chapek assumed the leadership mantle at Disney in early 2020, it was no secret there was some friction between himself and former CEO Bob Iger—and in late 2022, the Disney board fired Chapek amid criticisms of his management, and Iger came out of retirement and reassumed his...

CNN Boss Chris Licht Apologizes to Staff
His Job
Security Shaky,
CNN's Boss
Apologizes
the rundown

His Job Security Shaky, CNN's Boss Apologizes

Network CEO's job appears to be in jeopardy after scathing profile in 'Atlantic'

(Newser) - CNN chief Chris Licht had such a bad weekend that some thought he might tender his resignation when addressing the staff Monday morning. Instead, the 51-year-old offered an apology and vowed to earn back the trust of people he let down, reports CNBC . The controversy stems from an in-depth profile...

CEO Accuses Workers of 'Quiet Quitting,' Taking Care of Kids

Clearlink's James Clarke made some eyebrow-raising comments on remote work at town hall

(Newser) - The CEO of a digital marketing and tech firm is taking a fair amount of flak after remarks that targeted remote workers and working moms. James Clarke, head of Utah-based Clearlink, spoke during a companywide town hall last week to discuss a recent return-to-work order now that the pandemic has...

Starbucks' New CEO Is a Certified Barista

Laxman Narasimhan officially took the reins of the coffee giant on Monday

(Newser) - Starbucks officially has a new CEO. The Seattle coffee giant said Monday that Laxman Narasimhan has assumed the role of CEO and joined the company's board of directors. Narasimhan succeeds longtime Starbucks leader Howard Schultz, who came out of retirement last spring to serve as interim CEO while the...

Missing Chinese CEO Is 'Cooperating' in Gov't Investigation

His company, China Renaissance, now says founder Bao Fan is cooperating with government

(Newser) - Bao Fan, the billionaire Chinese investment banking CEO who has disappeared, is "cooperating in" a government investigation, according to China Renaissance Holdings, the company he founded and runs—and which reported him missing weeks ago. The company's board has since "become aware that Mr. Bao is currently...

Netflix Announces Surprise Leadership Shake-Up

Co-founder Reed Hastings steps down as co-CEO, will stay on as executive chairman

(Newser) - Netflix has a new co-CEO. Greg Peters, who has been serving as the streaming service's chief operating officer, will now take the helm alongside Ted Sarandos, replacing co-founder Reed Hastings, reports the Verge . Hastings will stick around as the company's executive chairman, "a role that founders often...

Ousted Disney CEO's Exit Pay Revealed in Filing

Bob Chapek's package is worth about $20M

(Newser) - Bob Chapek may be out at Disney, but he's definitely not down and out. A Tuesday regulatory filing shows he's slated to walk with a severance package worth about $20 million. Insider gives the breakdown: It's $6.5 million in base salary tied to the scheduled end...

CEO Reportedly Was Served Coffee Laced With Cyanide

Andre de Ruyter of South Africa energy giant Eskom survives

(Newser) - A strange and disturbing story out of South Africa: Multiple reports say the head of the energy giant Eskom survived an attempt to kill him via cyanide in his coffee. "I have reported the matter to SAPS [the South African Police Service] ... and the case can be assumed to...

AMC Chief Out After 3 Months, Will Get $10M Severance
AMC Networks Is Having
a Rough Day

AMC Networks Is Having a Rough Day

CEO Christina Spade leaves after 3 months as network announces layoffs

(Newser) - A surprise in the world of cable TV on Tuesday: AMC Networks CEO Christina Spade stepped down after less than three months on the job, reports CNBC . Neither Spade nor the network gave a specific reason, but the company announced large-scale layoffs soon after the announcement was made, per the...

CEO's Advice to Young Workers: Years of 18-Hour Workdays

Suggestion by Bombay Shaving Co. chief Shantanu Deshpande isn't going over well

(Newser) - On the heels of stories about "quiet quitting" —a workplace trend in which employees are doing the bare minimum to keep their jobs—comes hand-wringing over one man's very opposite work mindset. It's that of the CEO of India's Bombay Shaving Company, who took to...

'$70K CEO' Dan Price Resigns
'$70K CEO' Dan Price Resigns

'$70K CEO' Dan Price Resigns

Gravity Payments CEO says he's focusing on fighting 'false accusations' of misconduct

(Newser) - Gravity Payments CEO Dan Price has resigned—and the move is apparently unconnected to his 2015 decision to pay all employees, including himself, a $70,000 salary. In a tweet Wednesday, the CEO of the Seattle-based payments processing company shared a letter to his colleagues in which he said he...

CEO's Teary Selfie a Symptom of 'Banal' LinkedIn

'Everyone's personal anecdotes sound like TED Talks for robots,' Slate's Shannon Palus writes

(Newser) - The head of a social media marketing company recently took some flak for posting a "vulnerable" picture on LinkedIn , showing him in tears as he relayed how he had to lay off some of his workers. Braden Wallake has since issued an apology of sorts for his post as...

CEO Pay Took an Eye-Popping Jump Last Year

Typical compensation package for those at helm of S&P 500 companies soared 17.1%

(Newser) - Even when regular workers win their biggest raises in decades, they look minuscule compared with what CEOs are getting. The typical compensation package for chief executives who run S&P 500 companies soared 17.1% last year, to a median $14.5 million, according to data analyzed for the AP...

This Ex-Bank CEO's Expense Report Was Eyebrow-Raising

Former Raiffeisen chief Pierin Vincenz gets nearly 4 years in prison after $214K in strip club bills

(Newser) - A former "banker of the year" in Switzerland used his company credit card to pay for a Tinder date, a trip to Australia, and $214,000 in bills from strip clubs, according to testimony heard in a Zurich court before Pierin Vincenz was sentenced Wednesday to nearly four years...

Young Crypto Billionaire: I'm Giving Away Most of My Money
He's 30, Worth $24B, Drives
a Corolla, Sleeps in a Beanbag
in case you missed it

He's 30, Worth $24B, Drives a Corolla, Sleeps in a Beanbag

'I don't want a yacht,' crypto CEO Sam Bankman-Fried says of plan to give away most of his money

(Newser) - Sam Bankman-Fried wants FTX, the Bahamas-based cryptocurrency exchange he co-founded, to become the "biggest source of financial transactions in the world." In the meantime, he has a plan for the fortune he's already raking in: He wants to give most of it away. The 30-year-old tech entrepreneur,...

These Bosses May Get Paid Just a Little Too Much

Investor advocacy group as you sow published its most overpaid CEO list

(Newser) - As the chief executive officer of Paycom Software, Chad Richison claims pay of more than $210,000,000, while the average worker at Paycom takes home $71,259—a CEO-worker ratio of 2963:1. And he's not the only head honcho that has a salary that's way in...

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