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Corporate Responsibility

NSC

Norfolk Southern has announced a Value Assurance Program for homeowners in the East Palestine area. The program is designed to compensate any reduction in the value of eligible residential properties. The move is part of Norfolk Southern's commitment to protect the home values of the community.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:35 pm

ALEX

HE

Hawaiian Electric Industries (HEI) has announced leadership changes effective October 1, 2023. Paul Ito, currently EVP, CFO & treasurer of HEI, will serve as SVP, CFO & treasurer of Hawaiian Electric until approximately December 31, 2024, following the retirement of Tayne Sekimura. Scott DeGhetto, a veteran from Moelis & Company, will join HEI as CFO until Ito resumes his position. DeGhetto will remain at HEI in an advisory role from approximately January 1, 2025 until April 1, 2025.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:16 pm

KNTE

Kinnate Biopharma Inc. (NASDAQ:KNTE) announced pipeline updates, a strategic reprioritization plan, and a workforce restructuring. The company will reduce its workforce by approximately 70% and focus on the development of exarafenib combination, KIN-8741, and its CDK4 selective program. Kinnate will pause the development of KIN-7136 and explore strategic alternatives for exarafenib monotherapy and KIN-3248. The company had approximately $204.3 million in cash, cash equivalents, and investments as of June 30, 2023, which is anticipated to fund operations into at least the second quarter of 2026.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:13 pm

ES

Eversource Energy has appointed Paul Chodak as Executive Vice President and COO, effective from November 13.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:11 pm

SNAP

SONO

Patrick Spence, the CEO of Sonos, has joined the board of directors at Snap Inc.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:11 pm

ACNT

DOW

Ascent Industries Co. (NASDAQ:ACNT) has appointed J. Bryan Kitchen as president of Ascent Chemicals. Kitchen brings nearly two decades of senior leadership experience in the chemicals industry, having held management roles for several global industry leaders. He served as president, CEO and chairman of the board for Clearon Corp., and as the president of Xingfa USA, a division of Hubei Xingfa Chemicals Ltd. He also served as vice president of business operations at ANGUS Chemical Company, which was carved-out from The Dow Chemical Company (NYSE:DOW).

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:11 pm

ADC

Agree Realty Corporation has promoted Nicole Witteveen to the position of Chief Operating Officer, effective immediately. Additionally, Edward Eickhoff has been appointed as the Executive Vice President of Asset Management.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:06 pm

ULTA

Ulta Beauty has appointed Kecia L. Steelman as its President and Chief Operating Officer (COO).

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:06 pm

IBM

IBM has announced a commitment to train two million learners in artificial intelligence (AI) by the end of 2026, with a focus on underrepresented communities. The initiative will involve collaborations with universities and NGOs worldwide, and will offer new generative AI coursework through IBM SkillsBuild. The move is in response to a global AI skills gap, with a recent IBM study suggesting that 40% of the workforce will need to reskill in the next three years due to AI and automation.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 7:32 pm

STLA

Stellantis N.V. (NYSE:STLA) has proposed a new contract to the United Auto Workers union that could result in the closure of 18 U.S. facilities. The plan aims to modernize the parts and distribution network by closing down 10 'Mopar' parts and distribution centers and merging them into larger, more efficient distribution hubs. The proposal also includes a nearly 21% wage increase over the contract period and an immediate 10% pay hike. Shares of Stellantis were 1.6% lower in a volatile trading session on Monday.

Portfolio Pulse from Piero Cingari

September 18, 2023 | 6:51 pm