CEOs

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CEO's Advice to Young Workers: Years of 18-Hour Workdays

Suggestion by Bombay Shaving Co. chief Shantanu Deshpande isn't going over well

(Newser) - On the heels of stories about "quiet quitting" —a workplace trend in which employees are doing the bare minimum to keep their jobs—comes hand-wringing over one man's very opposite work mindset. It's that of the CEO of India's Bombay Shaving Company, who took to...

&#39;$70K CEO&#39; Dan Price Resigns
'$70K CEO' Dan Price Resigns
Aug 18, 2022 11:28 AM CDT

'$70K CEO' Dan Price Resigns

Gravity Payments CEO says he's focusing on fighting 'false accusations' of misconduct

(Newser) - Gravity Payments CEO Dan Price has resigned—and the move is apparently unconnected to his 2015 decision to pay all employees, including himself, a $70,000 salary. In a tweet Wednesday, the CEO of the Seattle-based payments processing company shared a letter to his colleagues in which he said he...

CEO's Teary Selfie a Symptom of 'Banal' LinkedIn

'Everyone's personal anecdotes sound like TED Talks for robots,' Slate's Shannon Palus writes

(Newser) - The head of a social media marketing company recently took some flak for posting a "vulnerable" picture on LinkedIn , showing him in tears as he relayed how he had to lay off some of his workers. Braden Wallake has since issued an apology of sorts for his post as...

CEO Pay Took an Eye-Popping Jump Last Year

Typical compensation package for those at helm of S&P 500 companies soared 17.1%

(Newser) - Even when regular workers win their biggest raises in decades, they look minuscule compared with what CEOs are getting. The typical compensation package for chief executives who run S&P 500 companies soared 17.1% last year, to a median $14.5 million, according to data analyzed for the AP...

This Ex-Bank CEO's Expense Report Was Eyebrow-Raising

Former Raiffeisen chief Pierin Vincenz gets nearly 4 years in prison after $214K in strip club bills

(Newser) - A former "banker of the year" in Switzerland used his company credit card to pay for a Tinder date, a trip to Australia, and $214,000 in bills from strip clubs, according to testimony heard in a Zurich court before Pierin Vincenz was sentenced Wednesday to nearly four years...

Young Crypto Billionaire: I&#39;m Giving Away Most of My Money
He's 30, Worth $24B, Drives
a Corolla, Sleeps in a Beanbag
in case you missed it
Apr 10, 2022 6:31 AM CDT

He's 30, Worth $24B, Drives a Corolla, Sleeps in a Beanbag

'I don't want a yacht,' crypto CEO Sam Bankman-Fried says of plan to give away most of his money

(Newser) - Sam Bankman-Fried wants FTX, the Bahamas-based cryptocurrency exchange he co-founded, to become the "biggest source of financial transactions in the world." In the meantime, he has a plan for the fortune he's already raking in: He wants to give most of it away. The 30-year-old tech entrepreneur,...

These Bosses May Get Paid Just a Little Too Much

Investor advocacy group as you sow published its most overpaid CEO list

(Newser) - As the chief executive officer of Paycom Software, Chad Richison claims pay of more than $210,000,000, while the average worker at Paycom takes home $71,259—a CEO-worker ratio of 2963:1. And he's not the only head honcho that has a salary that's way in...

Barclays Holds Back $29M Bonus From Ex-CEO Tied to Epstein

Jes Staley resigned late last year amid an investigation by UK banking regulators

(Newser) - Update: More bad news this week for Jes Staley, as UK banking regulators continue to investigate exactly what his relationship was with the late Jeffrey Epstein. The Guardian reports that Barclays will be holding back up to $29 million in bonus and share payouts to its former CEO, who resigned...

Tim Cook's Compensation Should Alarm Investors: Firm

He received $99M in 2021, or 1,447 times the wage of an average Apple worker

(Newser) - Apple shareholders are urged to raise a stink about a $99 million pay package awarded last year to CEO Tim Cook, who's already reportedly worth more than $1 billion. In a letter to shareholders published Wednesday, proxy advisory firm Institutional Shareholder Services said there are "significant concerns" about...

Peloton CEO Who'd Hoped to 'Disrupt' Industry Stepping Down

Co-founder John Foley is leaving chief executive role, but he's not completely riding off into sunset

(Newser) - The co-founder of Peloton is stepping down as chief executive after an extended streak of tumult at the exercise and treadmill company. John Foley first pitched the idea of an interactive exercise bike in 2011, hoping to disrupt the industry. Now, he'll give up his CEO position and become...

CEO Who Fired Workers on Zoom Is Back: 'Everyone Is Upset'

Vishal Garg back in Better.com driver's seat after backlash over laying off 900 staffers last month

(Newser) - Vishal Garg has apparently taken all the time he needed to think about what made him decide to pink-slip 900 Better.com workers last month on a short Zoom call. Per a Tuesday memo to staff from the company's board of directors, the embattled founder and CEO is back...

CEO Who Fired Workers Over Zoom Is Taking Time Off

Better.com's board made the announcement about Vishal Garg internally on Friday

(Newser) - Update: The CEO who shot to infamy last week after opting to fire 900 workers during a brief Zoom call is "taking time off." The board of mortgage lender Better.com announced in an internal email on Friday that Vishal Garg would be taking a break "effective...

Zuckerberg No Longer One of Glassdoor's Top CEOs

He's off the Top 100 list for the first time since it debuted in 2013

(Newser) - Since 2013, Mark Zuckerberg has been a staple on Glassdoor's annual ranking of the top 100 CEOs. No more. Bloomberg reports he was booted from the 2021 list due to a sinking approval rating among employees. Some 700 of Facebook's 60,000 employees were surveyed—they simply chose...

CEO of $2B Startup Canned for LSD Use Before Meeting

Iterable's Justin Zhu says he was experimenting with microdosing to enhance his focus

(Newser) - The CEO of a $2 billion marketing startup is no longer the CEO after a move that the Daily Beast files under its "not cool, man" tag. Per a note that Iterable sent to its employees on Monday, Justin Zhu has been fired for violating company policy, Bloomberg reports....

Cruise Line Lost $4B, but CEO's Pay Doubled

Wall Street Journal analysis finds that most chief executives got raises during the pandemic

(Newser) - Last year was a time of enormous economic distress and uncertainty. For the CEOs of major companies, it was also a time of enormous pay raises, the Wall Street Journal reports. While salaries were in many cases unchanged, and some CEOs volunteered to take pay cuts, the Journal notes that...

Despite McConnell Warning, CEOs Plan Defiant Response
Expect Major Pushback
From CEOs on Voting Laws
The rundown
Apr 12, 2021 9:40 AM CDT

Expect Major Pushback From CEOs on Voting Laws

More than 100 business leaders talk strategy on Zoom call, despite McConnell warning

(Newser) - Last week, Mitch McConnell warned American businesses to stay out of politics amid the fallout over Georgia's new voting restrictions . CEOs do not appear to be heeding the warning. Coverage:
  • The call: The Washington Post reports that more than 100 chief executives and corporate leaders spoke on a Zoom
...

Yukon Town Irked After Gaming CEO, Wife Scam COVID Vaccine

Rod and Ekaterina Baker posed as local workers to qualify for shots meant for vulnerable community

(Newser) - An Indigenous community in Canada is miffed after the CEO of the Great Canadian Gaming Corp. and his wife posed as new workers at a local Yukon motel and got the COVID vaccine, doses of which had been allotted to a tiny town due to its vulnerable rural community. Yukon...

He Heads a $23B Fashion Site. He's Walking Away for His Wife

Rubin Ritter, co-CEO of EU e-commerce giant Zalando, wants to prioritize his spouse's career

(Newser) - Rubin Ritter's contract with Europe's largest fashion site isn't set to expire for two-plus years. But a surprise announcement Sunday from the 38-year-old co-CEO of the Berlin-based Zalando indicates he has other plans for the near future—ones that include letting his spouse's career take center...

Report: Ex-Google CEO Just Bought a Passport to EU

Recode: Eric Schmidt has applied, been approved for citizenship in Cyprus in 'passport for sale' scheme

(Newser) - Buried within the pages of a publication in Cyprus last month, a tiny notice appeared written in the Greek alphabet, except for one name written in English: "Eric Emerson Schmidt," of Atherton, Calif. That notice in Alithia was an announcement of an application and approval for Cypriot citizenship,...

Ex-Blue Bell Chief Indicted in Listeria Case

Paul Kruse is accused of trying to cover up 2015 outbreak

(Newser) - In 2015, three people died and seven others were infected in four states in a listeria outbreak tied to Blue Bell Creameries ice cream. Now, a Texas grand jury has charged the former CEO and president of the company, accusing him of leading attempts to conceal the contamination. CNN Business...

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