Executives - Shore News Network

First Republic Bank executives to forego annual bonuses for 2023

ReutersMarch 22, 20230

(Reuters) – First Republic Bank said on Wednesday all its executive officers have decided to take no annual bonuses for 2023, and founder and Executive Chair Jim Herbert will draw no salary effective March 12. The disclosure comes as First Republic explores ways to stay in business amid a banking crisis that has already wiped out two lenders in the United States. The bank’s executives have also forfeited performance-based incentives vesting in 2023, according to a regulatory filing. The rescue effort for Swiss banking giant Credit Suisse has also put the bonus pools of banking executives under the spotlight. On

Recidivist Defendant Charged In Connection With Million-Dollar Fraud Scheme Targeting Senior Executives Of Investment Firms

DOJ PressFebruary 22, 20230

Damian Williams, the United States Attorney for the Southern District of New York, and Michael J. Driscoll, the Assistant Director in Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced the unsealing of a criminal Complaint today charging JONATHAN GHERTLER with engaging in a sophisticated scheme to impersonate senior leaders of two Manhattan-based investment firms, resulting in over $1 million in losses to their portfolio companies, and impersonating a partner of a global law firm on telephone calls with federal agents who were investigating the scheme. GHERTLER was arrested yesterday and will be presented

Brazil’s Americanas board to remove top executives after accounting scandal

ReutersFebruary 3, 20230

SAO PAULO (Reuters) – Brazilian retailer Americanas SA said on Friday its board had decided to remove three directors and three executives amid investigations over so-called accounting inconsistencies. Americanas, backed by the billionaire trio that founded investment firm 3G Capital, entered bankruptcy protection last month after disclosing “inconsistencies” in its accounting worth 20 billion reais ($3.88 billion). The company also owes a variety of creditors around $8 billion. In a securities filing, Americanas said three directors and three executives had been removed “from all their roles and activities at the company and its subsidiaries.” Jose Timotheo Barros, head of Americanas’

Morgan Stanley promotes 184 executives to role of managing directors

ReutersJanuary 18, 20230

(Reuters) – Morgan Stanley said on Wednesday it had promoted 184 executives to the role of managing directors, less than the 199 a year earlier, after a challenging 2022 for the investment bank in which profit plunged nearly 28%. The announcement confirmed a Reuters report from last week, which also said nearly 38% of the managing directors this year were women. Last month, Citigroup Inc also promoted over 100 women to the position of managing directors, the highest ever for the bank. Investment banks such as Morgan Stanley have been navigating a tough macroeconomic environment amid fears of a recession

Warner Bros TV channel executives leave amid restructuring – Deadline

ReutersDecember 9, 20220

(Reuters) – Two of Warner Bros. Discovery executives leading TV channels left the company as part of ongoing restructuring at the media giant, Hollywood and media news outlet Deadline reported Friday, citing a memo. Nancy Daniels, who lead the Turner network and number of Discovery channels including Animal Planet, and Jane Latman of HGTV overseeing Food Network left the company, according to the memo sent by Kathleen Finch, chairman and chief content officer of US Networks Group. The company “needs to make additional adjustments for the future as we evolve to a more streamlined operating model”, the report said. The

ITA and Lufthansa executives met ahead of possible sale -report

ReutersDecember 9, 20220

BERLIN (Reuters) – ITA Airways Chairman Antonino Turicchi met Lufthansa Chief Executive Carsten Spohr this week as Italy’s government aims to sign a preliminary agreement for the sale of the Italian carrier by the end of the year, Corriere della Sera reported on Friday. The deal could value Alitalia’s successor at 450-480 million euros ($475-$505 million) and Lufthansa would get a stake of 55-60%, the Italian newspaper added. ITA Airways was not immediately available for comment. Lufthansa declined to comment. Italy new government reopened ITA’s privatisation process last month after an exclusivity period for talks with U.S. private equity fund

Europe’s BNP Paribas appoints senior executives to Global Markets Americas division

ReutersDecember 7, 20220

(Reuters) – BNP Paribas SA has appointed several senior executives to its Global Markets Americas division, the European bank said on Wednesday, in a move to further consolidate its presence in the United States. The French bank appointed former Morgan Stanley executive Kunal Maini as the co-head of Global Macro – Americas and he will be responsible for globalizing the US Rates franchise. In addition, BNP also hired a string of executives to strengthen its credit portfolio at a time when global fixed income markets have come under immense pressure from soaring inflation and outsized interest rate hikes. John Hanisch

EU Justice Commissioner to meet Meta, Twitter executives in Dublin

ReutersNovember 22, 20220

DUBLIN (Reuters) – European Union justice chief Didier Reynders will meet executives from Twitter and Meta at their European headquarters in Dublin this week, the Irish Times quoted the commissioner as saying on Tuesday. Following recent layoffs at the two companies, the newspaper quoted Reynders as saying that he was struck by “some decisions to fire people engaged in discussion with the commission” on new regulations introduced in Brussels. “It’s quite strange, at the moment where there are more and more obligations and necessity to put into force,” Reynders, who will be in Dublin on Thursday to speak to lawmakers,

Analysis-Twitter executives could face big FTC fines -former officials

ReutersNovember 14, 20220

By Diane Bartz and Paresh Dave WASHINGTON (Reuters) – Elon Musk’s lawyer late last week sought to reassure Twitter Inc employees that they would not be held personally liable if the company disregarded a federal order to consider and protect users’ privacy when launching new features. Former FTC officials do not think it is so clear-cut. In a May 2022 settlement with the U.S. regulator, Twitter agreed to improve its privacy practices and placed responsibility on people who held certain positions. But compliance has come into question as Musk pursues rapid launches of features to steer the debt-laden, money-losing company

Alameda, FTX executives knew crypto exchange was using customer funds – WSJ

ReutersNovember 12, 20220

(Reuters) – FTX-affiliated crypto trading firm Alameda Research’s Chief Executive Officer Caroline Ellison and senior FTX officials knew that the crypto exchange had lent Alameda its customer funds to help meet liabilities, the Wall Street Journal reported on Saturday. Reuters reported Friday that FTX founder and former CEO Sam Bankman-Fried had secretly transferred $10 billion of customer funds from FTX to Alameda. Ellison told employees in a video meeting on Wednesday that she, Bankman-Fried, and two other executives, Nishad Singh and Gary Wang were aware of the decision to move customer funds to Alameda, the Journal said, citing people familiar

Musk Tells Twitter Staff ‘Bankruptcy Isn’t Out Of The Question’ As Executives Jump Ship Over Privacy Concerns: REPORT

The Daily CallerNovember 11, 20220

Musk Tells Twitter Staff ‘Bankruptcy Isn’t Out Of The Question’ As Executives Jump Ship Over Privacy Concerns: REPORT John Hugh DeMastri on November 10, 2022 At an all hands meeting with Twitter employees following the departure of several top executives over user privacy concerns, CEO Elon Musk told employees that he was not sure of the company’s financial prospects, saying that “bankruptcy isn’t out of the question,” according to multiple reports. At the same meeting, Musk also told employees that if they can “physically make it to an office and you don’t show up, resignation accepted,” Zoë Schiffer, the managing

Elon Musk Finally Takes Over Twitter, Fires Top Executives

The Daily CallerOctober 29, 20220

Elon Musk Finally Takes Over Twitter, Fires Top Executives John Hugh DeMastri on October 27, 2022 After a monthslong legal battle, SpaceX and Tesla CEO Elon Musk officially reached a deal with Twitter on Thursday to become the sole owner of the social media giant in a historic shakeup of the tech industry, according to multiple sources. The deal, initially agreed upon in April, takes Twitter private at $54.20 per share, a roughly $44 billion transaction that the tech mogul has previously attempted to escape over claims that he was misled about the number of spam or “bot” accounts on the

China appoints three policy bank executives after party congress

ReutersOctober 24, 20220

BEIJING (Reuters) – China has named Xu Shouben and Wang Weidong as vice presidents of China Development Bank (CDB), the nation’s biggest policy lender, according to statements released by China’s banking regulator on Monday. Xu, born in 1969, previously served as vice president of Industrial and Commercial Bank of China Ltd, the world’s largest commercial lender by assets. Wang served as president of CDB’s Jiangsu branch. The appointments came after China’s week-long Communist Party Congress, a twice-a-decade event that cleared the way for changes in key government posts in 2023. Meanwhile, Zhang Shaohui was appointed as vice president of the

Former Popeyes Executives Sign Agreement to Acquire Seven Existing Bojangles Restaurants and Develop Additional 11 in Western Georgia

Jessica WoodsOctober 22, 20220

Leader in chicken and biscuits has added more than 100 restaurants to development pipeline in 2021 with further expansion planned Charlotte, NC (-) Bojangles, one of the nation’s leading restaurant franchises famous for its chicken and biscuits, announced today the signing of a franchisee agreement with newly formed franchise group Cedartown Chicken, LLC (“Cedartown”), led by restaurant development industry veteran Greg Vojnovic and a team of former Popeye’s executives. Under the agreement, Cedartown has acquired seven existing Bojangles locations in western Georgia from Robinson Holdings, a former franchisee. In addition to the acquisition of the restaurants, Cedartown has signed an

Sterling Hospitality’s Kaffee Hopkins To Lead Marketing Executives Group Signature Event in Chicago in May 2022

Jessica WoodsOctober 22, 20220

Kaffee Hopkins Part of Annual National Restaurant Association Show, Three-Day Event Returns for First Time in Three Years Atlanta, GA (-) Kaffee Hopkins, director of brand marketing for Atlanta-based Sterling Hospitality, has enjoyed a varied and successful career in the restaurant and marketing industries. And now, three years after she was elected chairman of the Marketing Executives Group (MEG), she will finally get to enjoy another career highlight as she leads the prestigious event just before the 2022 National Restaurant Association (NRA) Show, May 18-20. MEG is the signature event for the Marketing Expert Exchange Community, a community of restaurant

Toppers Pizza Executives Announce 70 Stores in 70 Days; Systemwide Road Trip to Visit All Toppers Locations

Jessica WoodsOctober 22, 20220

Founder and CEO Scott Gittrich and VP of Human Resources Robin Gittrich will start the tour on March 14th, with the goal of collaborating with all Toppers team members, listening to feedback, finding ways to improve and celebrating the pizza industry as a whole. Whitewater, WI (-) Toppers Pizza, the ever-evolving pizza delivery brand, recently announced that two members of its executive team will be embarking on a nationwide road trip with the goal of visiting 70 Toppers restaurants in 70 days. Founder and CEO Scott Gittrich and VP of Human Resources Robin Gittrich will start the tour in Whitewater,

Crave Hot Dogs & BBQ CEO Ranks in Top 25 Executives in Fast Casual Awards 2022

Jessica WoodsOctober 22, 20220

(-) Crave Hot Dogs & BBQ is off to the races this year. Quarter over quarter Crave has increased its franchise sales. Crave ranked No. 13 in the top movers and shakers of 2022 by fast casual. The founders, Samantha and Salvatore Rincione are veterans in the franchising and restaurant industry. Crave features BBQ, hot dogs, brats and sausages amongst other items such as sides and toppings. Not to mention the self-pour beer wall with up to 48 taps of local craft beer and mixed drinks on tap. The brand offers a family friendly environment where there is something for

Senior KFC executives opt for retirement as interest rates hit pension payouts -WSJ

ReutersOctober 15, 20220

(Reuters) – Three senior KFC executives have notified the U.S. fried chicken chain’s parent company Yum Brands Inc that they will take early retirement as rising interest rates threaten to dent lump sum payouts for corporate pensions, the Wall Street Journal reported on Saturday. KFC’s U.S. Chief Operating Officer Monica Rothgery, Chief Financial Officer Trip Vornholt and Jeff Griffin, its director of national field operations will leave the company this year, the report said, citing company messages without specifying between whom. KFC and Yum Brands did not immediately respond to Reuters’ requests for comment. “Because of these interest rates, some

Argentine executives expect already sky-high inflation to go higher

ReutersOctober 13, 20220

By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s surging inflation will just keep rising, according to the vast majority of executives surveyed in a poll released on Thursday, even though consumer prices are already on pace to end this year in triple digits. The government of President Alberto Fernandez has struggled to contain steadily rising consumer prices, expected to reach an annualized rate of 100% by the end of this year, as a prolonged economic crisis shows no signs of abating in a country where many shops no longer post prices since they are forced to constantly mark them up.

Soccer-Thorns, Timbers fire two executives amid abuse report fallout

ReutersOctober 5, 20220

(Reuters) – Portland Thorns fired two key executives on Wednesday after a report said abuse was rampant in the top-flight U.S. National Women’s Soccer League (NWSL). The Thorns said they had dismissed President of Soccer Gavin Wilkinson and President of Business Mike Golub, and the pair had also been axed from their roles with the team’s Major League Soccer counterparts, the Portland Timbers. Team owner Merritt Paulson said on Tuesday he would remove himself from “Thorns-related decision making” after the independent report by former U.S. Deputy Attorney General Sally Yates said the team was not transparent about accusations of abuse

Credit Suisse executives reassure investors after CDS spike, Financial Times reports

ReutersOctober 2, 20220

(Reuters) – Credit Suisse executives spent the weekend reassuring large clients, counterparties and investors about its liquidity and capital position, the Financial Times reported on Sunday. A spokesman for Credit Suisse declined to comment on the report when contacted by Reuters. Executives made the calls after spreads Credit Suisse credit default swaps (CDS), which offer protection against a company defaulting, rose sharply on Friday in an indication of investor concerns, the newspaper said. Credit Suisse five-year credit default swaps (CDS) jumped 6 basis point to close to 247 bps on Friday, the highest level in at least 10 years, S&P

Two Former eBay Executives Sentenced to Prison for Cyberstalking

DOJ PressSeptember 29, 20220

BOSTON – The former Senior Director of Safety & Security at eBay, Inc. and the company’s former Director of Global Resiliency were sentenced to prison today for their roles in a cyberstalking campaign targeting the editor and publisher of a newsletter that eBay executives viewed as critical of the company. James Baugh, 47, of San Jose, Calif., was sentenced by U.S. District Court Judge Patti B. Saris to 57 months in prison and two years of supervised release. Baugh was also ordered to pay a fine of $40,000. David Harville, 50, of Las Vegas, Nev., was sentenced to two years

Judge orders Twitter to give Elon Musk former executive’s documents

ReutersAugust 15, 20220

By Tom Hals WILMINGTON, Del – Twitter Inc needs to give Elon Musk documents from a former Twitter executive who Musk said was a key figure in calculating the amount of fake accounts on the platform, according to a Monday court order. Bot and spam accounts on Twitter have become a central issue in the legal fight over whether Musk, who is Tesla Inc’s chief executive, must complete his $44 billion acquisition of the social media company. Twitter was ordered to collect, review and produce documents from former General Manager of Consumer Product Kayvon Beykpour, according to the order from

Executives of Card Payment Processing Company Indicted in East Texas for Nationwide Multimillion Dollar Fraud Scheme

DOJ PressJuly 27, 20220

SHERMAN, Texas – A federal grand jury in Texas has indicted former executives and company leaders at Electronic Transactions Systems Corporation (“ETS”) for their conduct in defrauding approximately 7,000 merchant clients out of millions of dollars, announced Eastern District of Texas U.S. Attorney Brit Featherston today. Edward Walsh Vaughan, 58, of California; Hadi Akkad, 49, of Virginia; Jill Hall Mandichak, 43, of Virginia; Sean Lynch, 50, of Virginia; Katherine Nguyen, 38, of North Carolina; and Gina Ellingsen, 43, of Minnesota, were all charged with conspiracy to commit wire fraud. Vaughan and Akkad were also charged with money laundering conspiracy. ETS

U.S. Attorney Announces Charges In Four Separate Insider Trading Cases Against Nine Individuals, Including Former U.S. Congressman, Former FBI Agent Trainee, Tech Company Executives, And Former Investment Banker

DOJ PressJuly 25, 20220

Former U.S. Congressman Charged with Insider Trading Based on Inside Information Obtained from Consulting Work Former FBI Agent Trainee and Friend Charged with Insider Trading Based on Inside Information Stolen from the Trainee’s former Girlfriend Network of Individuals Charged with Insider Trading based on Inside Information obtained from the Former Chief Information Security Officer of Telecommunications Company New York-based Investment Banker Charged with Insider Trading for Using Stolen Information about Potential Investments to Tip Trading Friend Damian Williams, United States Attorney for the Southern District of New York, and Michael J. Driscoll, Assistant Director-in-Charge of the New York Office of