Streetbeat News

Corporate Responsibility

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Glass House Brands Inc. has appointed Yelena Katchko, a renowned cannabis law attorney, to its Board of Directors. Katchko, a founding partner at Katchko, Vitiello & Karikomi, PC, has a strong track record in cannabis law and has been instrumental in shaping cannabis regulations in Los Angeles and California. Her appointment is expected to add significant value to Glass House as the company continues to grow.

Portfolio Pulse from Joana Scopel

November 08, 2023 | 10:34 pm

KSS

Kohl's (NYSE:KSS) announced a transition plan for its Board of Directors. Board Chair Peter Boneparth will retire in May 2024, and Michael Bender will succeed him. Adolfo Villagomez, CEO of Progress Residential and former Home Depot executive, has been appointed as a new independent director, effective November 7. The Board now consists of 12 directors, 11 of whom are independent.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:24 pm

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Rachel Green Horn, the head of Marketing and Communications at Filecoin Foundation, highlighted the internet's fragility and the importance of data ownership during a panel discussion at Benzinga's Future of Digital Assets 2022 edition. She emphasized that Filecoin incentivizes storage providers to participate by offering them the chance to earn Filecoin as they store data, representing a practical application of cryptocurrency beyond speculation.

Portfolio Pulse from Jose Rodrigo Safdiye

November 08, 2023 | 10:02 pm

AFIB

Acutus Medical has announced a plan to realign resources to support the Left-Heart Access Distribution Business and exit from the Electrophysiology Mapping and Ablation Businesses. As a result, the company will no longer provide financial guidance.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 9:54 pm

AFIB

Acutus Medical (NASDAQ:AFIB) has announced a strategic realignment of resources and corporate restructuring, which will result in a workforce reduction of approximately 65%. The company will shift its business model to solely support the manufacturing and distribution of Medtronic's left-heart access products. The restructuring is expected to significantly reduce cash burn and ongoing operating expenses. As of September 30, 2023, the company had $45.5 million in cash and equivalents. Post restructuring, Acutus will become a contract manufacturing business with the potential to generate positive cash flow over the next several years.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 9:52 pm

CTVA

Corteva has announced a plan to optimize its Crop Protection network of manufacturing facilities and external partners. This includes exiting production activities at its site in Pittsburg, California, and ceasing operations in select manufacturing lines at other locations. The company expects to record total pre-tax restructuring and asset-related charges of $410M-$460M through 2024.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 9:44 pm

APP

AppLovin Corporation (APP) has appointed Matt Stumpf as its new Chief Financial Officer (CFO).

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 9:26 pm

DIS

Disney CEO Bob Iger revealed on CNBC that he had a call with Nelson Peltz, but did not disclose the specifics of what was discussed.

Portfolio Pulse from Charles Gross

November 08, 2023 | 9:22 pm

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Beyond Meat is conducting a review of its global operations with the aim of significantly reducing its operating expense base. The company is seeking to accelerate its transition to a sustainable and ultimately profitable business.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 9:14 pm

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Genpact has announced a leadership succession plan. Current President and CEO, 'Tiger' Tyagarajan, intends to retire from the company effective February 9, 2024. The Board of Directors has appointed Balkrishan 'BK' Kalra, Genpact's Global Business Leader, Financial Services and Consumer & Healthcare, as the next President and CEO, also effective from February 9, 2024.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 9:07 pm