CEO – News Stories About CEO - Page 9

Oct 16, 2009 7:42 AM CDT

Pay Czar Blocks Salary for Ken Lewis

BofA CEO will return $1M and forgo any pay this year

(Newser) - President Obama's pay czar has landed his biggest punch yet: Bank of America CEO Ken Lewis will forgo any pay this year and return $1 million he's already accepted. But don't start up a collection just yet: The reason Kenneth Feinberg made the request is because Lewis will receive about...

US Olympics Chief Will
Step Down

Oct 7, 2009 12:15 PM CDT

US Olympics Chief Will Step Down

Streeter's decision follows Chicago bid, no-confidence vote

(Newser) - With the sting of Chicago's loss still fresh, the acting chief of the US Olympic Committee has decided to step down before being pushed out. Stephanie Streeter said today she will not seek the job on a permanent basis and will leave by March. The decision comes five days after...

Bank of America's
Lewis to Resign
at End of Year

Sep 30, 2009 4:41 PM CDT

Bank of America's Lewis to Resign at End of Year

(Newser) - Ken Lewis, the embattled CEO of Bank of America, is leaving the company, succumbing to nearly a year of strife that followed his company's acquisition of Merrill Lynch. The bank said in a statement that Lewis, 62, would retire as CEO and also leave the company's board by the end...

Meg Whitman Tests Media's
Celeb-CEO Myth

Analysis

Sep 28, 2009 3:09 PM CDT

Meg Whitman Tests Media's Celeb-CEO Myth

Calif. voters to decide if ex-eBay honcho was really a rock star

(Newser) - For years Meg Whitman has benefited from the sycophantic business media’s lionization of the CEO. Throughout the boom years, “CEOs were pretty much automatically rock stars,” writes Simon Dumenco for Advertising Age. “If they banked a billion or more, the thinking went, they must have been...

US Bankers' Pay Is World's Highest—by Far

Sep 23, 2009 4:33 PM CDT

US Bankers' Pay Is World's Highest—by Far

(Newser) - US bank CEOs are paid drastically more than their counterparts around the world. The CEO of Commercial Bank of China, the largest bank in the world, brings home just $234,700 a year—or roughly 2% of JP Morgan boss Jamie Dimon’s $19.6 million haul. The US has...

Drug Dealers: Experts in Recessionary Business

book review

Sep 21, 2009 5:26 PM CDT

Drug Dealers: Experts in Recessionary Business

CEOs could learn a lot from hustlers

(Newser) - 50 Cent is the first rapper to pen a book of management advice. It’s a shame, then, that The 50th Law, co-written by Robert Greene, boils down to the worst kind of “be authentic” self-help boilerplate, writes Lucy Lucy Kellaway for the Financial Times. As a former drug...

Cost-Cutting Companies
Target No. 2 Execs

Sep 21, 2009 8:27 AM CDT

Cost-Cutting Companies Target No. 2 Execs

Corporations eliminate second-in-command roles to save on costs

(Newser) - Cost-cutting at American's largest corporations is hitting the executive suite, with CEOs rolling up their sleeves to take on more day-to-day responsibilities and laying off their No. 2s. In the 18 months leading up to June 2009, 40 major companies eliminated COOs or presidents, the Wall Street Journal notes, while...

Mack Steps Down as Morgan Stanley CEO

Sep 11, 2009 5:52 AM CDT

Mack Steps Down as Morgan Stanley CEO

Ends tumultuous 4 years, including bank's near collapse

(Newser) - John Mack is stepping down after 4 years as CEO of Morgan Stanley, the bank that nearly succumbed at the height of the financial crisis. Morgan Stanley has seen its reputation suffer in recent years after ill-advised moves into real-estate-backed assets that cost the bank billions, raising questions about Mack's...

Fuld: 'I Was Whipping Boy'
for Lehman Failure

Sep 8, 2009 1:58 AM CDT

Fuld: 'I Was Whipping Boy' for Lehman Failure

Lehman's last CEO steels himself for anniversary of firm's collapse

(Newser) - Former Lehman CEO Richard Fuld is ready to get dumped on again as the anniversary of the company's collapse nears, he told a Reuters reporter. Fuld was widely blamed for leading Lehman into the biggest bankruptcy in US history, although former execs are still bitter that rivals Bear Stearns, Merrill...

Back at Work, Jobs Zeroes In on New Apple 'Tablet'

Aug 25, 2009 1:23 AM CDT

Back at Work, Jobs Zeroes In on New Apple 'Tablet'

Liver transplant has not diminished CEO's attention to detail

(Newser) - Just months after a liver transplant, Steve Jobs is back at Apple focusing his powerful micro-managerial style on development of a new tablet computer, the Wall Street Journal reports. Jobs’ close involvement with the tablet device signals that it will likely be a major product for Apple. During the development...

New AIG CEO's Salary: $7M

Aug 18, 2009 10:05 AM CDT

New AIG CEO's Salary: $7M

Figure makes a mockery of government's 'populist image': blogger

(Newser) - The new CEO of AIG is bringing home $7 million a year to restore the bailed-out firm to health, Bloomberg reports. Robert Benmosche will receive $3 million in cash and $4 million in common stock, a regulatory filing notes. “The cash component had to be enough to attract a...

White House Invites CEOs
for Lunch—Then Bills Them

Jul 30, 2009 5:38 PM CDT

White House Invites CEOs for Lunch—Then Bills Them

(Newser) - Four top CEOs who sat down to lunch with President Obama at the White House have an unusual memento: the bill for their meals. White House staffers collected the credit card numbers of the executives from Coke, Xerox, AT&T, and Honeywell so they could pay up afterward, Politico reports....

Dimon:
DC's New
Favorite
Banker

Jul 19, 2009 11:25 AM CDT

Dimon: DC's New Favorite Banker

JPMorgan CEO ingratiates himself with Washington

(Newser) - As the nation's financial center shifted from Wall Street to Pennsylvania Avenue, one man managed both to keep his bank afloat and emerge from a toppled industry with credibility in the White House. In a lengthy profile of Jamie Dimon, the New York Times takes a look at the JPMorgan...

GM's Wagoner to Get $8.2M, Plus $75K Annual Pension

Jul 14, 2009 10:03 PM CDT

GM's Wagoner to Get $8.2M, Plus $75K Annual Pension

(Newser) - Now he can fly on all the private planes he wants: Former General Motors CEO Rick Wagoner will collect an $8.2 million payout package, plus a $74,000 annual pension, reports the Detroit Free Press. If he chooses, the 56-year-old Wagoner also can cash out a company life insurance...

Apple: Jobs
Is Back,
Part-Time

Jun 29, 2009 1:13 PM CDT

Apple: Jobs Is Back, Part-Time

(Newser) - Apple co-founder and CEO Steve Jobs is back at work after a five-and-a-half-month medical leave, during which he received a liver transplant. Jobs, 54, is working from Apple's Cupertino, Calif., headquarters "a few days a week" and working from home the remaining days, an Apple spokesman said today.

Jobs' Stand-In
Is Apple's
New Star

Jun 23, 2009 9:12 AM CDT

Jobs' Stand-In Is Apple's New Star

Tim Cook may now be a more important player than his returning boss

(Newser) - Steve Jobs is slated to return to Apple this month—he’s already been sighted at the office—but in his absence Tim Cook has made a name for himself, becoming a vital commodity Apple needs to keep, the Wall Street Journal reports. “At this point, losing Tim Cook...

Bailed-Out Bank Execs Fly Corporate Jets to Resorts

Jun 19, 2009 6:54 AM CDT

Bailed-Out Bank Execs Fly Corporate Jets to Resorts

Citi, BoA, Morgan Stanley CEOs jetted off after cash infusions

(Newser) - Executives at bailed-out banks are still using company jets to fly to vacation homes and resorts, the Wall Street Journal reports. The newspaper reviewed FAA records to find that banks receiving federal aid have flown top execs to locales such as the Caribbean, Aspen, and Europe. Case in point: Less...

Ex-Apple Exec Takes Over
at Palm

Jun 10, 2009 6:30 PM CDT

Ex-Apple Exec Takes Over at Palm

Rubinstein will be new CEO as company goes after iPhone

(Newser) - Palm shuffled its top leadership today as it continues to zero in on Apple and the iPhone. Jon Rubinstein, who led Apple's iPod division before jumping to Palm in 2007, will take over as CEO and chairman from Ed Colligan, who is resigning after 16 years. "Colligan's departure means...

Jobs Set to Return to Apple

Jun 5, 2009 7:30 AM CDT

Jobs Set to Return to Apple

After sick leave, CEO 'coming along'

(Newser) - Steve Jobs will likely return to Apple this month as planned, insiders tell the Wall Street Journal, leading some to wonder whether he’ll make a surprise appearance at Apple’s yearly software developers’ conference next week, where a new iPhone is expected to be debuted. Either way, Jobs’ time...

Why Corporate Boards
Seldom Do Their Jobs Well

ANALYSIS

May 28, 2009 2:42 AM CDT

Why Corporate Boards Seldom Do Their Jobs Well

Directors largely responsible for missteps, but keep their jobs

(Newser) - Recent shareholder meetings at Citigroup and the Bank of America devolved into morality plays—wronged shareholders berated executives, executives apologetically vowed to improve—with a rather curious epilogue: every member of the board of directors was reelected. The reason is that corporate boards are often filled with under-informed, over-paid yes-men...