Streetbeat News

Corporate Responsibility

GM

General Motors (GM) is laying off over 1,000 salaried employees in its software and services division to streamline operations. This includes about 600 jobs at its tech campus near Detroit. The layoffs follow leadership changes and aim to simplify operations and prioritize impactful investments.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 12:55 pm

EL

KLXY

MGRO

Estee Lauder's Q4 results show a 7% sales growth, but weak China sales impact the outlook. CEO Fabrizio Freda will retire at the end of FY25. The company expects a challenging FY25 with lower EPS and sales growth forecasts. Investors can gain exposure through ETFs like KLXY and MGRO.

Portfolio Pulse from Lekha Gupta

August 19, 2024 | 12:40 pm

GES

Guess? Inc. has appointed Dennis Secor as the interim CFO starting August 26, 2024. Markus Neubrand will step down from his role but will assist with the transition while the company searches for a permanent CFO in Lugano, Switzerland.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 12:05 pm

ROCK

WHR

Gibraltar Industries has appointed Joseph Lovechio as its new CFO, effective August 19, 2024. Lovechio, previously CFO for Whirlpool Corporation's North America Region, will succeed Timothy F. Murphy, who will retire but stay on through early 2025 to assist with the transition.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 11:31 am

TLSA

Tiziana Life Sciences has appointed Ivor Elrifi as its new CEO, effective immediately. Elrifi succeeds Gabriele Cerrone, who will continue as Executive Chairman and play a key role in the company's scientific agenda.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 11:01 am

ANDE

The Andersons has announced that current COO Bill Krueger will succeed Pat Bowe as President and CEO, effective October 1, 2024. Bowe will remain as Chairman, and Krueger will also join the Board of Directors.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:57 am

EL

Estée Lauder's President & CEO Fabrizio Freda has announced his intention to retire at the end of FY25. The Board is advanced in its CEO succession planning, considering both internal and external candidates. Freda will continue to lead the company until a successor is appointed and will assist in the transition process.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:32 am

WENA

ANEW MEDICAL, INC. (NASDAQ:WENA) has appointed Jeffrey LeBlanc as the new Chief Financial Officer, replacing interim CFO Edward Cong Wang. The company focuses on developing cell and gene-based treatments for aging and age-related diseases.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 9:06 am

CMG

SBUX

Jim Cramer discussed the recent CEO change at Starbucks, highlighting the shift from Laxman Narasimhan to Brian Niccol, former CEO of Chipotle Mexican Grill. This change has led to a significant stock surge for Starbucks, reflecting renewed investor confidence. Cramer emphasized the importance of holding valuable brands and expressed confidence in Niccol's ability to lead Starbucks despite potential challenges.

Portfolio Pulse from Benzinga Neuro

August 19, 2024 | 8:01 am

ALG

Alamo Group has sold its Herschel Parts business to focus on its core operations and improve profitability.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 7:36 am