BP’s finance chief Brian Gilvary to retire in June

British oil major BP said on Tuesday its finance chief Brian Gilvary will be retiring after eight years in the role, with the announcement coming just two weeks before Bernard Looney takes over as chief executive officer. Murray Auchincloss, who is currently chief financial officer of BP’s upstream division, will become BP’s chief financial officer on July 1, the company said. Gilvary, who oversaw BP’s recovery following the 2010 deadly Gulf of Mexico spill which has cost the company more than $


British oil major BP said on Tuesday its finance chief Brian Gilvary will be retiring after eight years in the role, with the announcement coming just two weeks before Bernard Looney takes over as chief executive officer.
Murray Auchincloss, who is currently chief financial officer of BP’s upstream division, will become BP’s chief financial officer on July 1, the company said.
Gilvary, who oversaw BP’s recovery following the 2010 deadly Gulf of Mexico spill which has cost the company more than $
BP’s finance chief Brian Gilvary to retire in June Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21
Keywords: news, cnbc, companies, chief, company, financial, bps, brian, looney, finance, step, executive, retire, major, gilvary, officer, role


BP's finance chief Brian Gilvary to retire in June

British oil major BP said on Tuesday its finance chief Brian Gilvary will be retiring after eight years in the role, with the announcement coming just two weeks before Bernard Looney takes over as chief executive officer.

Murray Auchincloss, who is currently chief financial officer of BP’s upstream division, will become BP’s chief financial officer on July 1, the company said.

Gilvary, who oversaw BP’s recovery following the 2010 deadly Gulf of Mexico spill which has cost the company more than $65 billion in fines and clean up costs, will step down from the board on June 30.

Looney, who will replace Bob Dudley as chief executive of BP in February, faces the tricky task of navigating the energy major through a rising tide of environmentalism and the move to a low-carbon economy.

“I have worked side-by-side with Murray for many years and have the utmost confidence in his ability to step into this critical role,” Looney said in a statement.


Company: cnbc, Activity: cnbc, Date: 2020-01-21
Keywords: news, cnbc, companies, chief, company, financial, bps, brian, looney, finance, step, executive, retire, major, gilvary, officer, role


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Minerd: Don’t see any reason why we can’t keep pushing asset prices higher

Minerd: Don’t see any reason why we can’t keep pushing asset prices higherScott Minerd, global chief investment officer at Guggenheim Partners, joins CNBC’s “Squawk Box” team at the World Economic Forum in Davos, Switzerland.


Minerd: Don’t see any reason why we can’t keep pushing asset prices higherScott Minerd, global chief investment officer at Guggenheim Partners, joins CNBC’s “Squawk Box” team at the World Economic Forum in Davos, Switzerland.
Minerd: Don’t see any reason why we can’t keep pushing asset prices higher Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21
Keywords: news, cnbc, companies, asset, prices, team, switzerland, cant, reason, higher, minerd, partners, officer, squawk, world, pushing, dont


Minerd: Don't see any reason why we can't keep pushing asset prices higher

Minerd: Don’t see any reason why we can’t keep pushing asset prices higher

Scott Minerd, global chief investment officer at Guggenheim Partners, joins CNBC’s “Squawk Box” team at the World Economic Forum in Davos, Switzerland.


Company: cnbc, Activity: cnbc, Date: 2020-01-21
Keywords: news, cnbc, companies, asset, prices, team, switzerland, cant, reason, higher, minerd, partners, officer, squawk, world, pushing, dont


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Oracle hires a new chief marketing officer from Amazon Web Services

Oracle has hired Ariel Kelman to be its new chief marketing officer, two people familiar with the matter said. Kelman is joining from Amazon Web Services, where he had been vice president of worldwide marketing for six years. He joined AWS from Salesforce, where he had held marketing roles, as head of worldwide marketing in 2011, and in 2014 he became AWS’ vice president for worldwide marketing in 2014, according to his LinkedIn profile. Before joining Salesforce Kelman spent two years at MicroS


Oracle has hired Ariel Kelman to be its new chief marketing officer, two people familiar with the matter said.
Kelman is joining from Amazon Web Services, where he had been vice president of worldwide marketing for six years.
He joined AWS from Salesforce, where he had held marketing roles, as head of worldwide marketing in 2011, and in 2014 he became AWS’ vice president for worldwide marketing in 2014, according to his LinkedIn profile.
Before joining Salesforce Kelman spent two years at MicroS
Oracle hires a new chief marketing officer from Amazon Web Services Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: jordan novet
Keywords: news, cnbc, companies, services, hires, amazon, web, aws, garman, chief, president, oracle, vice, kelman, officer, worldwide, cloud, marketing, salesforce


Oracle hires a new chief marketing officer from Amazon Web Services

Larry Ellison, co-founder and chairman of Oracle Corp., speaks during the Oracle OpenWorld 2017 conference in San Francisco on October 3, 2017.

Oracle has hired Ariel Kelman to be its new chief marketing officer, two people familiar with the matter said. Kelman is joining from Amazon Web Services, where he had been vice president of worldwide marketing for six years.

The move represents a victory for Oracle, which has trailed AWS in the market for cloud infrastructure companies rent to operate websites and applications. The two companies have become increasingly bitter rivals in recent years: Oracle executives have criticized AWS , and AWS CEO Andy Jassy has spoken negatively about Oracle. AWS said in October that Amazon’s consumer business had switched off its last Oracle database.

Kelman replaces Rupal Shah Hollenbeck, a former Intel executive who left earlier this month. At AWS he was a top executive. He joined AWS from Salesforce, where he had held marketing roles, as head of worldwide marketing in 2011, and in 2014 he became AWS’ vice president for worldwide marketing in 2014, according to his LinkedIn profile. Before joining Salesforce Kelman spent two years at MicroStrategy and co-founded a start-up, Ventaso.

AWS announced several new appointments in an internal email on Friday, a spokesperson told CNBC.

Rachel Thornton, a vice president who had worked on field and partner marketing, replaces Kelman. Prior to joining AWS she spent time at Salesforce, as well as Cisco and Microsoft.

Matt Garman, who had been vice president of compute services, is taking on new responsibilities spanning sales and marketing in a chief operating officer-like role. Garman, who has worked on AWS since 2006, recently joined Amazon’s top circle of executives known as the S-team. Thornton will report to Garman, who in turn will report to AWS CEO Andy Jassy.

Dave Brown, a vice president leading the team behind the core EC2 service who joined in 2007 as an engineer on EC2 in South Africa, where it had been developed, will take over Garman’s previous work.

AWS led the cloud infrastructure market with about 48% in 2018, while Oracle was not one of the top five providers, according to Gartner. Meanwhile, Oracle has remained a leader in database software.

In 2018 Oracle stopped disclosing its cloud infrastructure and platform revenue, a development that some analysts took as a negative sign about the company’s prospects in those areas.

Oracle declined to comment for this story. Garman and Kelman didn’t immediately respond to requests for comment.

WATCH: Oracle loses court battle for Pentagon cloud contract


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: jordan novet
Keywords: news, cnbc, companies, services, hires, amazon, web, aws, garman, chief, president, oracle, vice, kelman, officer, worldwide, cloud, marketing, salesforce


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US calls shooting by Saudi officer in Florida ‘act of terrorism,’ expels 21 Saudi students from training

A general view of the atmosphere at the Pensacola Naval Air Station following a shooting on December 06, 2019 in Pensacola, Florida. The attack brought fresh complications to U.S.-Saudi relations at a time of heightened tensions between the United States and Iran, Saudi Arabia’s regional rival. Saudi Air Force Second Lieutenant Mohammed Saeed Alshamrani, 21, was fatally shot by a deputy sheriff during the Dec. 6 incident at the facility in Pensacola, Florida. During a news conference, Barr – the


A general view of the atmosphere at the Pensacola Naval Air Station following a shooting on December 06, 2019 in Pensacola, Florida.
The attack brought fresh complications to U.S.-Saudi relations at a time of heightened tensions between the United States and Iran, Saudi Arabia’s regional rival.
Saudi Air Force Second Lieutenant Mohammed Saeed Alshamrani, 21, was fatally shot by a deputy sheriff during the Dec. 6 incident at the facility in Pensacola, Florida.
During a news conference, Barr – the
US calls shooting by Saudi officer in Florida ‘act of terrorism,’ expels 21 Saudi students from training Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13
Keywords: news, cnbc, companies, expels, officer, act, students, barr, terrorism, air, investigation, trainees, calls, shooting, states, united, pensacola, saudi, florida, naval, training


US calls shooting by Saudi officer in Florida 'act of terrorism,' expels 21 Saudi students from training

A general view of the atmosphere at the Pensacola Naval Air Station following a shooting on December 06, 2019 in Pensacola, Florida. The second shooting on a U.S. Naval Base in a week has left three dead plus the suspect and seven people wounded.

The fatal shooting of three Americans by a Saudi Air Force officer at a Florida naval base last month was “an act of terrorism,” U.S. Attorney General William Barr said on Monday, adding that 21 Saudi military trainees will be pulled out of the United States following an investigation into the incident.

The attack brought fresh complications to U.S.-Saudi relations at a time of heightened tensions between the United States and Iran, Saudi Arabia’s regional rival. Saudi Air Force Second Lieutenant Mohammed Saeed Alshamrani, 21, was fatally shot by a deputy sheriff during the Dec. 6 incident at the facility in Pensacola, Florida.

During a news conference, Barr – the top U.S. law enforcement official – said there was no evidence of assistance by other Saudi trainees or that any of them had knowledge in advance of the attack.

“This was an act of terrorism,” Barr said. “The evidence showed that the shooter was motivated by jihadist ideology. During the course of the investigation, we learned that the shooter posted a message on Sept. 11 of this year stating, ‘The countdown has begun.”‘

Barr added that Alshamrani also visited the New York City memorial to the victims of the Sept. 11, 2001, attacks on the United States and posted anti-American, anti-Israeli and jihadi messages on social media, including two hours before the attack.

Saudi Arabia provided “complete and total support” to the American investigation of the incident, Barr said.


Company: cnbc, Activity: cnbc, Date: 2020-01-13
Keywords: news, cnbc, companies, expels, officer, act, students, barr, terrorism, air, investigation, trainees, calls, shooting, states, united, pensacola, saudi, florida, naval, training


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Ex-CIA officer sees Iran doing ‘hit-and-run’ cyberattacks — ‘They don’t want us to retaliate’

People burn a poster representing US President Donald Trump to protest against the killing of Iranian commander Qasem Soleimani in Iraq. A former CIA officer told CNBC on Thursday that it’s likely Iran will carry out small-scale cyberattacks to avoid U.S. retaliation. Additionally, several websites across the globe were hit with cyberattacks that defaced them with images and slogans supportive of Soleimani. Rather than attempt to hit highly secured agencies like the military or financial service


People burn a poster representing US President Donald Trump to protest against the killing of Iranian commander Qasem Soleimani in Iraq.
A former CIA officer told CNBC on Thursday that it’s likely Iran will carry out small-scale cyberattacks to avoid U.S. retaliation.
Additionally, several websites across the globe were hit with cyberattacks that defaced them with images and slogans supportive of Soleimani.
Rather than attempt to hit highly secured agencies like the military or financial service
Ex-CIA officer sees Iran doing ‘hit-and-run’ cyberattacks — ‘They don’t want us to retaliate’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, iranian, hitandrun, cyberattacks, hit, trump, flynn, soleimani, iran, hackers, likely, websites, attacks, sees, doing, retaliate, dont, officer, excia


Ex-CIA officer sees Iran doing 'hit-and-run' cyberattacks — 'They don't want us to retaliate'

People burn a poster representing US President Donald Trump to protest against the killing of Iranian commander Qasem Soleimani in Iraq.

A former CIA officer told CNBC on Thursday that it’s likely Iran will carry out small-scale cyberattacks to avoid U.S. retaliation.

“They perfectly understand that the U.S. is very powerful and isn’t going to tolerate a catastrophic attack,” said Carol Rollie Flynn, former executive director of the CIA Counterterrorism Center.

“More likely are hit-and-run sorts of attacks,” she added in a “Squawk Box” interview.

U.S. officials are preparing for a potential onslaught of attacks from Iranian hackers after last week’s U.S. airstrike killed Iran’s top military leader, Qasem Soleimani, at Baghdad’s airport.

Some groups — including the Foreign Policy Research Institute think tank, of which Flynn is president — have already been hit by what she describes as a “probably Iranian disinformation campaign.”

Additionally, several websites across the globe were hit with cyberattacks that defaced them with images and slogans supportive of Soleimani. The hacked websites displayed images of a fist-punching Trump among other anti-American rhetoric. Victims included the U.S. Federal Depository Library Program and the Commercial Bank of Sierra Leone.

However, through a statement, the Department of Homeland Security expressed doubt these attacks were actually state-sponsored by Iran.

Rather than attempt to hit highly secured agencies like the military or financial services, Flynn said it’s likely Iranian hackers will continue deceptive practices on “lesser targets.”

“They have capabilities probably ready to go,” she said.

At the same time, she said, “They don’t want us to retaliate against them. They have felt that before.”

Iran has carried out cyberattacks on the U.S. before. And while it’s not at the scale that Russia or China is, its capabilities still have grown over the past decade, Flynn said.

Between 2012 and 2013, Iranian hackers carried out a series of attacks on the largest U.S. financial institutions including Bank of America and Citigroup. Las Vegas Sands was attacked in 2014 over owner Sheldon Adelson’s support for Israel and calls for attacks on Iran.

The current attacks come as businesses have never spent more on cybersecurity, with their spending estimated to have reached $124 billion in the fourth quarter alone.

“Smart businesses should have good governance policies and procedures that their employees are well versed in,” Flynn said.

— CNBC’s Kate Fazzini and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, iranian, hitandrun, cyberattacks, hit, trump, flynn, soleimani, iran, hackers, likely, websites, attacks, sees, doing, retaliate, dont, officer, excia


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Alphabet health group Verily scoops up Tesla’s former CFO, among other key hires

Verily, the health and life sciences unit of Google parent company Alphabet, has brought on some key hires as it looks to scale the business. “Health care is in a state of crisis,” said Ahuja by phone. Verily, which was previously known as Google Life Sciences, has announced a series of partnerships with health care companies, which typically involve an investment in new technology. Burke, who joined the call with Ahuja, noted that Verily’s focus on partnerships with health care companies drew h


Verily, the health and life sciences unit of Google parent company Alphabet, has brought on some key hires as it looks to scale the business.
“Health care is in a state of crisis,” said Ahuja by phone.
Verily, which was previously known as Google Life Sciences, has announced a series of partnerships with health care companies, which typically involve an investment in new technology.
Burke, who joined the call with Ahuja, noted that Verily’s focus on partnerships with health care companies drew h
Alphabet health group Verily scoops up Tesla’s former CFO, among other key hires Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: christina farr
Keywords: news, cnbc, companies, financial, ahuja, officer, teslas, alphabet, tesla, technology, companies, verily, group, hires, key, cfo, care, health, company, scoops


Alphabet health group Verily scoops up Tesla's former CFO, among other key hires

Verily, the health and life sciences unit of Google parent company Alphabet, has brought on some key hires as it looks to scale the business.

The company has hired a new chief financial officer, Deepak Ahuja, who spent two separate stints working at Tesla and helped take the electric car-maker public after rising up the ranks as a financial executive at Ford Motor Company. Tesla CEO Elon Musk announced Ahuja’s retirement from the electric car maker at the beginning of 2019 in an earnings call to investors. Since then, he’s been an advisor to various sustainable technology ventures, but told CNBC he made the decision to move into health care after meeting Verily CEO Andy Conrad.

“Health care is in a state of crisis,” said Ahuja by phone. “Verily has a combination of solutions, which I see as redefining how we approach the sector by lowering costs and improving care. That’s near and dear to my heart.”

Verily, which was previously known as Google Life Sciences, has announced a series of partnerships with health care companies, which typically involve an investment in new technology. There are more than a dozen efforts underway, including a new sensor with the medical device maker Dexcom to track blood sugar for people with type 2 diabetes, and a technology project with ResMed to help diagnose people with a sleep disorder called sleep apnea. There’s also a partnership with Novartis, Pfizer and other large drug companies to help modernize their clinical trials with technology.

Another big part of the business, which is run by the company’s president Vivan Lee, involves working with hospitals and health systems to help them embrace new payment models, including paying doctors based on patient health outcomes rather than the volume of procedures conducted.

Verily has signaled previously that it is looking to scale and grow outside of its parent company, Alphabet. A year ago, the unit took $1 billion in new financing led by the private equity firm Silver Lake. At the time, Verily’s CEO Andy Conrad said the funding would “increase flexibility and optionality.” It also announced that Alphabet CFO Ruth Porat would join the board.

Ahuja has experience bringing companies public. He was the chief financial officer for Tesla through its initial public offering in 2010.

In addition to hiring Ahuja, the company also brought on a new head of software in Scott Burke, former chief technology officer from Helix, a consumer DNA company backed by Illumina, and Vindell Washington, the former National Coordinator for Health Information Technology, as its chief clinical officer for its “platforms” business.

Burke, who joined the call with Ahuja, noted that Verily’s focus on partnerships with health care companies drew him to the business. He was also attracted to the opportunity to work on projects involving health data that are much broader in scope than genetics.

Both the new hires noted that Verily is in a position to scale and grow. “When I joined Tesla there were only 350 employees,” Ahuja said. Tesla is now an $80 billion company. “But Tesla came into being when there was a window of opportunity. It might not have worked a decade earlier.”

Both Ahuja and Burke said they saw the same window of opportunity in health care today. “Think about the convergence of hardware development, the miniaturization of sensor technology, big data and AI,” noted Ahuja.

Verily’s existing CFO Duncan Welstead, who led it through its various financing rounds, will stay on at the company to oversee financial operations. The company has raised more than in $1.8 billion in total financing since it became an independent subsidiary of Alphabet in 2015.

Follow @CNBCtech on Twitter for the latest tech industry news.


Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: christina farr
Keywords: news, cnbc, companies, financial, ahuja, officer, teslas, alphabet, tesla, technology, companies, verily, group, hires, key, cfo, care, health, company, scoops


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Apple privacy officer says that ‘building back doors’ to access iPhone data won’t help solve crimes

Apple has long taken a controversial position on encrypting its devices, arguing that it has limited ability to help law enforcement crack into devices during criminal investigations. Horvath said that Apple has a team working around the clock to respond to requests from law enforcement. But she said she doesn’t support building so-called back doors into software that would allow law enforcement elevated access to private data to solve crimes like terrorism. “Building back doors into encryption


Apple has long taken a controversial position on encrypting its devices, arguing that it has limited ability to help law enforcement crack into devices during criminal investigations.
Horvath said that Apple has a team working around the clock to respond to requests from law enforcement.
But she said she doesn’t support building so-called back doors into software that would allow law enforcement elevated access to private data to solve crimes like terrorism.
“Building back doors into encryption
Apple privacy officer says that ‘building back doors’ to access iPhone data won’t help solve crimes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-07  Authors: kif leswing
Keywords: news, cnbc, companies, solve, wont, building, phone, officer, help, apple, horvath, doors, fbi, iphone, devices, law, privacy, crimes, enforcement, data


Apple privacy officer says that 'building back doors' to access iPhone data won't help solve crimes

Horvath reiterated Apple’s view that to protect customer data, if a phone is stolen or gets left in a cab, and ensure consumer trust, the company has designed its devices so that it can’t access highly personal information. Apple says that, for locked phones, in order to retrieve data that hasn’t been uploaded to the company’s servers, it would have to build special software.

Apple has long taken a controversial position on encrypting its devices, arguing that it has limited ability to help law enforcement crack into devices during criminal investigations. On Monday, the FBI sent a letter to Apple requesting assistance extracting data from password-protected iPhones used by Mohammed Saeed Alshamrani, who is suspected of killing three people last month in a shooting at a Navy base in Pensacola, Florida.

This year, Apple made its first official appearance at the conference in years and was forced to defend that position. Jane Horvath, Apple’s senior director, was on a panel on Tuesday alongside representatives from Facebook , Procter & Gamble and the Federal Trade Commission, and was asked about the company’s use of encryption.

At last year’s CES tech trade show in Las Vegas, Apple attracted a lot of attention because of a large well-placed billboard ad that read, “What happens on your iPhone, stays on your iPhone.”

“Our phones are relatively small and they get lost and stolen,” Horvath said. “If we’re going to be able to rely on our health data and finance data on our devices, we need to make sure that if you misplace that device, you’re not losing your sensitive data.”

Horvath said that Apple has a team working around the clock to respond to requests from law enforcement. But she said she doesn’t support building so-called back doors into software that would allow law enforcement elevated access to private data to solve crimes like terrorism.

“Building back doors into encryption is not the way we are going to solve those issues,” Horvath said.

Apple’s most high profile showdown with law enforcement came in 2016, when the Justice Department sued the company in an effort to get it to help obtain data from the phone of Syed Farook, who was responsible for the mass shooting in San Bernadino, California, which left 14 people dead. The FBI eventually said that it was able to gain access to the phone using a private vendor.

An Apple spokesperson told CNBC on Tuesday, in response to an inquiry about the recent Alshamrani case, that the company is working with authorities.

“We have the greatest respect for law enforcement and have always worked cooperatively to help in their investigations,” the spokesperson said in an email. “When the FBI requested information from us relating to this case a month ago we gave them all of the data in our possession and we will continue to support them with the data we have available.”

Tuesday’s panel also included Erin Egan, Facebook’s vice president for public policy, P&G global privacy officer Susan Shook and FTC Commissioner Rebecca Slaughter. Facebook also faces government pressure to build back doors into its software.

WATCH: CES highlights tech meant to be controlled with your mind


Company: cnbc, Activity: cnbc, Date: 2020-01-07  Authors: kif leswing
Keywords: news, cnbc, companies, solve, wont, building, phone, officer, help, apple, horvath, doors, fbi, iphone, devices, law, privacy, crimes, enforcement, data


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Bed Bath & Beyond shares jump on real estate deal that gives the retailer $250 million

Bed Bath & Beyond shares jumped nearly 3% Monday morning after the retailer said it had completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital, netting it $250 million in proceeds. Bed Bath & Beyond said in a press release that the properties it has sold represent about 2.1 million square feet of commercial real estate, which includes stores, office space and a distribution center. Bed Bath & Beyond, which also owns Buy Buy Baby and Harmon drugstores, has roug


Bed Bath & Beyond shares jumped nearly 3% Monday morning after the retailer said it had completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital, netting it $250 million in proceeds.
Bed Bath & Beyond said in a press release that the properties it has sold represent about 2.1 million square feet of commercial real estate, which includes stores, office space and a distribution center.
Bed Bath & Beyond, which also owns Buy Buy Baby and Harmon drugstores, has roug
Bed Bath & Beyond shares jump on real estate deal that gives the retailer $250 million Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: lauren thomas
Keywords: news, cnbc, companies, gives, retailer, estate, stronger, target, bed, deal, work, real, valuebed, shares, officer, million, jump, bath


Bed Bath & Beyond shares jump on real estate deal that gives the retailer $250 million

Bed Bath & Beyond shares jumped nearly 3% Monday morning after the retailer said it had completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital, netting it $250 million in proceeds.

The embattled company’s new CEO Mark Tritton, who just took the reins in November, said the deal, which entailed selling real estate and leasing it back, “marks the first step toward unlocking valuable capital … that can be put to work to amplify our plans to build a stronger, more efficient foundation to support revenue growth, financial stability and enhance shareholder value.”

Bed Bath & Beyond said in a press release that the properties it has sold represent about 2.1 million square feet of commercial real estate, which includes stores, office space and a distribution center. Bed Bath & Beyond, which also owns Buy Buy Baby and Harmon drugstores, has roughly 1,500 locations in total.

The company said it is continuing to work with outside financial advisors to review its real estate and determine the best uses “to optimize its asset base and enhance shareholder value.”

Bed Bath & Beyond said it plans to use the proceeds from the deal announced Monday to reinvest in its core business and transformation efforts, to fund share repurchases and to reduce outstanding debt, or a combination of these tactics.

Tritton has only been in the CEO role, after leaving Target, for a few weeks. But he has shown he is wasting no time to embark on his own turnaround strategy.

Last month, he ousted six senior executives — in the midst of the holiday shopping season, including the retailer’s chief merchandising officer, marketing officer, digital officer, its general counsel and chief administrative officer.

Bed Bath & Beyond has come under heightened pressure and sales have slumped as businesses such as Amazon, Walmart and Target have appealed more to consumers with speedier shipping and stronger websites, as they sell many of the same items that Bed Bath & Beyond has traditionally offered in its stores.

Meantime, selling real estate and leasing it back is a strategy that numerous retailers have deployed in the past, especially when they’re in a pinch for liquidity. Sears did this prior to going bankrupt. So has Macy’s. But this also means these companies then are stuck with paying rent.

Bed Bath & Beyond shares are up roughly 40% over the past 12 months, as of Friday’s market close.

The retailer is set to report quarterly earnings after the bell on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: lauren thomas
Keywords: news, cnbc, companies, gives, retailer, estate, stronger, target, bed, deal, work, real, valuebed, shares, officer, million, jump, bath


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Google will outperform in 2020 under new CEO Pichai, says Pivotal Research as it upgrades the stock

Sundar Pichai, chief executive officer at Google LLC, speaks during the Google Cloud Next ’19 event in San Francisco, California, U.S., on Tuesday, April 9, 2019. Investors should be bullish on Google’s new regime under Sundar Pichai, according to Pivotal Research Group. The firm upgraded shares of Google’s parent company Alphabet to buy from hold and hiked its price target to $1,650 per share from $1,445 per share, a near 18% upside from Friday’s closing price of $1,361.52 per share. Pivotal sa


Sundar Pichai, chief executive officer at Google LLC, speaks during the Google Cloud Next ’19 event in San Francisco, California, U.S., on Tuesday, April 9, 2019.
Investors should be bullish on Google’s new regime under Sundar Pichai, according to Pivotal Research Group.
The firm upgraded shares of Google’s parent company Alphabet to buy from hold and hiked its price target to $1,650 per share from $1,445 per share, a near 18% upside from Friday’s closing price of $1,361.52 per share.
Pivotal sa
Google will outperform in 2020 under new CEO Pichai, says Pivotal Research as it upgrades the stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, research, pichai, pivotal, price, stock, share, ceo, chief, executive, 2020, google, googles, officer, upgrades, outperform, sundar


Google will outperform in 2020 under new CEO Pichai, says Pivotal Research as it upgrades the stock

Sundar Pichai, chief executive officer at Google LLC, speaks during the Google Cloud Next ’19 event in San Francisco, California, U.S., on Tuesday, April 9, 2019.

Investors should be bullish on Google’s new regime under Sundar Pichai, according to Pivotal Research Group.

The firm upgraded shares of Google’s parent company Alphabet to buy from hold and hiked its price target to $1,650 per share from $1,445 per share, a near 18% upside from Friday’s closing price of $1,361.52 per share. Pivotal said it is optimistic that the technology giant’s newly appointed chief executive officer and chairman Pichai is a positive for investors.


Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, research, pichai, pivotal, price, stock, share, ceo, chief, executive, 2020, google, googles, officer, upgrades, outperform, sundar


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Juul taps CFO to lead embattled e-cigarette maker’s $1 billion restructuring

Juul tapped its brand new chief financial officer to run the embattled e-cigarette maker’s $1 billion restructuring effort, the company confirmed to CNBC on Monday. Guy Cartwright, who became Juul’s CFO in October, will become the company’s chief transformation officer, according to a Juul spokesman. Chief Administrative Officer Ashley Gould and Chief Financial Officer Tim Danaher, two veteran employees at the young start-up, are gone. The leadership changes come as Juul faces mounting litigatio


Juul tapped its brand new chief financial officer to run the embattled e-cigarette maker’s $1 billion restructuring effort, the company confirmed to CNBC on Monday.
Guy Cartwright, who became Juul’s CFO in October, will become the company’s chief transformation officer, according to a Juul spokesman.
Chief Administrative Officer Ashley Gould and Chief Financial Officer Tim Danaher, two veteran employees at the young start-up, are gone.
The leadership changes come as Juul faces mounting litigatio
Juul taps CFO to lead embattled e-cigarette maker’s $1 billion restructuring Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, lead, ecigarette, transformation, officer, billion, tobacco, vaping, makers, cartwright, embattled, cfo, company, taps, teen, juul, chief, surge, restructuring


Juul taps CFO to lead embattled e-cigarette maker's $1 billion restructuring

An employee picks up a Juul Labs device kit for a customer at a store in San Francisco.

Juul tapped its brand new chief financial officer to run the embattled e-cigarette maker’s $1 billion restructuring effort, the company confirmed to CNBC on Monday.

Guy Cartwright, who became Juul’s CFO in October, will become the company’s chief transformation officer, according to a Juul spokesman. Cartwright joined the company in July as transformation and operations officer, according to his LinkedIn profile.

Juul accounting chief Saurabh Sinha is taking over as interim CFO, the company said.

“Our overall goal is to save 1 billion dollars in the near-term so that we could continue to invest in key areas,” Cartwright said in an email shared with CNBC. “Through everyone’s efforts, we are approaching that goal, but there is still more work to do.”

Several top executives left the company last year amid a management shake-up. Chief Administrative Officer Ashley Gould and Chief Financial Officer Tim Danaher, two veteran employees at the young start-up, are gone. Craig Brommers, chief marketing officer, and David Foster, senior vice president of advanced technologies, left as well.

Juul also abandoned its chief marketing officer position.

The leadership changes come as Juul faces mounting litigation and scrutiny over a surge in teen vaping. Last week, the Food and Drug Administration issued a ban on most fruit- and mint-flavored nicotine vaping products in an effort to curb a surge in teen use.

Juul in November halted the sale of its flavors in the U.S., excluding menthol, Virginia tobacco and classic tobacco.


Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, lead, ecigarette, transformation, officer, billion, tobacco, vaping, makers, cartwright, embattled, cfo, company, taps, teen, juul, chief, surge, restructuring


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