Trump’s Middle East strategy could free Putin to grasp a central role

President Donald Trump’s decision to withdraw the remaining U.S. troops from northern Syria will play directly into the hands of Russian President Vladimir Putin, according to several analysts. According to NBC News, which cited U.S. intelligence, Turkey’s forces have now teamed up with Arab militia, including former members of IS and al-Qaeda, to attack the Kurds. There are an estimated 2 million Kurds in northern Syria. Trump and Treasury Secretary Steven Mnuchin have threatened Turkey with “p


President Donald Trump’s decision to withdraw the remaining U.S. troops from northern Syria will play directly into the hands of Russian President Vladimir Putin, according to several analysts. According to NBC News, which cited U.S. intelligence, Turkey’s forces have now teamed up with Arab militia, including former members of IS and al-Qaeda, to attack the Kurds. There are an estimated 2 million Kurds in northern Syria. Trump and Treasury Secretary Steven Mnuchin have threatened Turkey with “p
Trump’s Middle East strategy could free Putin to grasp a central role Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: david reid
Keywords: news, cnbc, companies, trumps, withdraw, grasp, middle, east, wants, northern, forces, strategy, turkey, troops, central, kurds, role, president, free, fight, putin, syria


Trump's Middle East strategy could free Putin to grasp a central role

President Donald Trump’s decision to withdraw the remaining U.S. troops from northern Syria will play directly into the hands of Russian President Vladimir Putin, according to several analysts.

The sudden pullback of 1,000 U.S. soldiers in the area has freed Turkish forces to carry out an offensive against Kurdish forces who had been allied with American troops in the fight against the so-called Islamic State.

According to NBC News, which cited U.S. intelligence, Turkey’s forces have now teamed up with Arab militia, including former members of IS and al-Qaeda, to attack the Kurds. There are an estimated 2 million Kurds in northern Syria.

Trump and Treasury Secretary Steven Mnuchin have threatened Turkey with “powerful” sanctions, should Ankara overreach in northern Syria. But in an apparent contradiction, Trump tweeted Sunday that whoever wants to fight for either Turkey or the Kurds, should be free to do so.

Speaking to CNBC’s Hadley Gamble in Abu Dhabi on Saturday, Saudi Arabian Prince Turki Al-Faisal said it was “surprising America would abandon her allies in Syria,” adding that for the U.S. to “fold up their tents and silently fade away,” was not the right thing to do.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: david reid
Keywords: news, cnbc, companies, trumps, withdraw, grasp, middle, east, wants, northern, forces, strategy, turkey, troops, central, kurds, role, president, free, fight, putin, syria


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American Airlines shuffles top staff after key customer service executive steps down

Kerry Philipovitch, senior vice president of customer experience, handling areas from reservations, customer service, baggage and premium service, will retire at the end of the year, the airline said Thursday. A spokesman called the departure of Philipovitch, 49, who has been in the role at American since 2013, “entirely voluntary.” We haven’t been consistently hitting the mark, and that’s not fair to our team or our customers,” American’s president, Robert Isom, said in a note to employees. Hea


Kerry Philipovitch, senior vice president of customer experience, handling areas from reservations, customer service, baggage and premium service, will retire at the end of the year, the airline said Thursday. A spokesman called the departure of Philipovitch, 49, who has been in the role at American since 2013, “entirely voluntary.” We haven’t been consistently hitting the mark, and that’s not fair to our team or our customers,” American’s president, Robert Isom, said in a note to employees. Hea
American Airlines shuffles top staff after key customer service executive steps down Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: leslie josephs
Keywords: news, cnbc, companies, changes, key, senior, americans, operations, vice, isom, airlines, role, service, shuffles, steps, experience, staff, executive, customer, president, american


American Airlines shuffles top staff after key customer service executive steps down

American Airlines is shuffling some of its top executives after a key departure and struggles with its operations that led to hundreds of flight cancellations and long delays over the past few months.

Kerry Philipovitch, senior vice president of customer experience, handling areas from reservations, customer service, baggage and premium service, will retire at the end of the year, the airline said Thursday. A spokesman called the departure of Philipovitch, 49, who has been in the role at American since 2013, “entirely voluntary.”

The changes come amid growing pressure on American’s CEO, Doug Parker, to improve the Fort Worth, Texas-based carrier’s operations after it faced hundreds of cancellations over the summer, angering customers and employees. American’s stock is down more than 15% so far this year while Delta and United are each up 4%.

American has blamed many of the delays and cancellations on the unions representing its mechanics, which it accused of conducting an illegal work slowdown to gain leverage in contract talks, accusations the unions have denied. Negotiations resumed last month.

“The most important thing we can do to make culture a competitive advantage and deliver a world-class customer experience is run a safe and reliable operation. We haven’t been consistently hitting the mark, and that’s not fair to our team or our customers,” American’s president, Robert Isom, said in a note to employees.

The airline has made recent improvements, however. In September, nearly 83% of American’s flights arrived on time, its best month since November 2017 and more than 4 percentage points higher than the year-earlier period.

“The changes we’re announcing today will help build on that momentum and ensure we’re operating better than ever by increasing coordination across all operations functions,” Isom said.

The changes will mean Isom will have four direct reports, down from five, since American won’t replace Philipovitch.

David Seymour, for example, will expand his role as head of operations to take on Philipovitch’s tasks of managing airport operations.

Head of network planning, Vasu Raja, who was promoted to senior vice president, will add airline alliances and partnerships to his role. Joint ventures and equity stakes have become more important to airlines as they expand because foreign ownership rules prevent carriers from buying foreign airlines outright. Last month, rival Delta announced a surprise minority stake in American’s longtime Latin American partner LATAM, the region’s largest airline.

Kurt Stache, senior vice president of loyalty and marketing, will take on passenger experience management, which Philiopovich previously handled.

The changes will mean Isom will have four direct reports, down from five.


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: leslie josephs
Keywords: news, cnbc, companies, changes, key, senior, americans, operations, vice, isom, airlines, role, service, shuffles, steps, experience, staff, executive, customer, president, american


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Target taps Michael Fiddelke as CFO as its chief merchant heads to Bed Bath & Beyond

A shopper is seen in a Target store in the Brooklyn borough of New York. Target announced Wednesday it named Michael Fiddelke as its next executive vice president and chief financial officer. It also said Chief Merchandising Officer Mark Tritton will resign to take the CEO post at Bed Bath & Beyond. Hennington has been at Target since 2003, and had been in charge of essentials, beauty, hardlines and services in her general merchandising role. Tritton, who was Target’s merchandising officer, had


A shopper is seen in a Target store in the Brooklyn borough of New York. Target announced Wednesday it named Michael Fiddelke as its next executive vice president and chief financial officer. It also said Chief Merchandising Officer Mark Tritton will resign to take the CEO post at Bed Bath & Beyond. Hennington has been at Target since 2003, and had been in charge of essentials, beauty, hardlines and services in her general merchandising role. Tritton, who was Target’s merchandising officer, had
Target taps Michael Fiddelke as CFO as its chief merchant heads to Bed Bath & Beyond Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: lauren thomas jasmine wu, lauren thomas, jasmine wu
Keywords: news, cnbc, companies, target, bed, merchandising, trittons, cfo, store, targets, fiddelke, role, merchant, michael, heads, brand, vice, chief, bath, taps


Target taps Michael Fiddelke as CFO as its chief merchant heads to Bed Bath & Beyond

A shopper is seen in a Target store in the Brooklyn borough of New York.

Target announced Wednesday it named Michael Fiddelke as its next executive vice president and chief financial officer.

It also said Chief Merchandising Officer Mark Tritton will resign to take the CEO post at Bed Bath & Beyond. He will start his new role on Nov. 4.

Fiddelke replaces Cathy Smith, who had announced her intention to step down earlier this year. He moves into this role at a crucial time for Target, ahead of the upcoming holiday season. He has been at Target for more than 15 years, and most recently held the role of senior vice president of operations.

“After concluding an extensive global search, it’s clear that Michael is the right leader for this role,” said CEO Brian Cornell. “With his engineering training and his deep financial experience, Michael is extremely talented at diagnosing and solving complex organizational challenges and driving business results.”

Fiddelke’s roles at Target have spanned across finance, merchandising, human resources, and operations. In his SVP role, he led initiatives involving merchandising, supply chain, stores, and guest experience. Before joining Target, he worked at Deloitte Consulting.

In the interim, Tritton’s duties will be assumed by general merchandising managers Christina Hennington and Jill Sando.

Hennington has been at Target since 2003, and had been in charge of essentials, beauty, hardlines and services in her general merchandising role. In her interim position, she will be responsible for merchandising planning and capabilities teams.

Sando joined in 1997, and managed apparel, accessories, and home in her previous role. She will assume Tritton’s responsibilities for owned brand sourcing, design and brand management.

Tritton, who was Target’s merchandising officer, had led many of its recent store revamps, such as introducing private- label products. He also helped Target secure collaborations with big-name brands such as Vineyard Vines and Hunter Boots.

“Mark brought a tremendous amount of energy to his role as our chief merchant,” said Cornell. “His focus on developing the next generation of leadership, establishing a comprehensive merchandising strategy and re-energizing our owned brand portfolio are among his most meaningful contributions.”

Shares of Target fell less than a percent in extended trading Wednesday, and are up more than 65% this year. The stock hit an all-time intraday high of $111.25 on Wednesday, bringing Target’s market cap to more than $56.3 billion.


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: lauren thomas jasmine wu, lauren thomas, jasmine wu
Keywords: news, cnbc, companies, target, bed, merchandising, trittons, cfo, store, targets, fiddelke, role, merchant, michael, heads, brand, vice, chief, bath, taps


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Goldman evaluating role in China’s Megvii IPO after US blacklist

Goldman Sachs said on Tuesday it was reviewing its involvement in Megvii Technology’s planned initial public offering (IPO) after the U.S. government placed the Chinese artificial intelligence firm on a human rights blacklist. In an emailed statement in response to a request for comment on the Alibaba-backed Megvii IPO, Goldman said it was “evaluating in light of the recent developments.” Goldman is a joint sponsor of the Megvii IPO, alongside Citigroup and JPMorgan Chase, which both declined to


Goldman Sachs said on Tuesday it was reviewing its involvement in Megvii Technology’s planned initial public offering (IPO) after the U.S. government placed the Chinese artificial intelligence firm on a human rights blacklist. In an emailed statement in response to a request for comment on the Alibaba-backed Megvii IPO, Goldman said it was “evaluating in light of the recent developments.” Goldman is a joint sponsor of the Megvii IPO, alongside Citigroup and JPMorgan Chase, which both declined to
Goldman evaluating role in China’s Megvii IPO after US blacklist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09
Keywords: news, cnbc, companies, chinese, firm, goldman, intelligence, evaluating, chinas, recognition, blacklist, shanghai, facial, megvii, ipo, role, public, companies


Goldman evaluating role in China's Megvii IPO after US blacklist

An attendee uses his smartphone to record a facial-recognition demonstration on himself at the Beijing Megvii booth at the MWC Shanghai exhibition in Shanghai, China, on June 27, 2019.

Goldman Sachs said on Tuesday it was reviewing its involvement in Megvii Technology’s planned initial public offering (IPO) after the U.S. government placed the Chinese artificial intelligence firm on a human rights blacklist.

The Trump administration said on Monday that Megvii and seven other Chinese companies were targeted because they were implicated in Beijing’s repression of Muslim minority populations in the Xinjiang Uighur Autonomous Region in the far west of the country.

In an emailed statement in response to a request for comment on the Alibaba-backed Megvii IPO, Goldman said it was “evaluating in light of the recent developments.” Sources had previously told Reuters the listing was scheduled for Hong Kong in the fourth quarter and might raise as much as $1 billion.

Risk consultants and Silicon Valley lawyers said that other U.S. companies involved with the blacklisted Chinese firms, whether as investors or as underwriters, are also likely to reevaluate their relationships.

Goldman is a joint sponsor of the Megvii IPO, alongside Citigroup and JPMorgan Chase, which both declined to comment.

Goldman had thoroughly evaluated the Megvii deal before initially signing onto it using its usual due diligence process, a person familiar with the matter said.

Known in the artificial intelligence business for its facial recognition platform Face++, Megvii will become the first Chinese AI firm to go public if the deal goes ahead. The company provides facial recognition and other AI technology to governments and companies including Alibaba, Ant Financial, Lenovo Group and Huawei.


Company: cnbc, Activity: cnbc, Date: 2019-10-09
Keywords: news, cnbc, companies, chinese, firm, goldman, intelligence, evaluating, chinas, recognition, blacklist, shanghai, facial, megvii, ipo, role, public, companies


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With rampant turnover among big company CMOs, marketers grapple with the changing role

But even as the title may change, the responsibilities remain crucial as companies need to understand how they can connect with culture and know what consumers want. One closely watched yardstick for CMO tenure is executive consulting firm Spencer Stuart’s “CMO Tenure Study,” which shows the average CMO tenure among 100 of the most-advertised U.S. brands has fallen slightly to 43 months in 2018, compared to 44 in 2017. “While I believe companies believe they need marketing, I don’t think they’re


But even as the title may change, the responsibilities remain crucial as companies need to understand how they can connect with culture and know what consumers want. One closely watched yardstick for CMO tenure is executive consulting firm Spencer Stuart’s “CMO Tenure Study,” which shows the average CMO tenure among 100 of the most-advertised U.S. brands has fallen slightly to 43 months in 2018, compared to 44 in 2017. “While I believe companies believe they need marketing, I don’t think they’re
With rampant turnover among big company CMOs, marketers grapple with the changing role Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: megan graham
Keywords: news, cnbc, companies, cmos, grapple, company, companies, growth, rampant, role, cmo, marketing, need, changing, marketers, tenure, turnover, theyre, big


With rampant turnover among big company CMOs, marketers grapple with the changing role

As some of the world’s biggest companies slice off the title of CMO, marketers were pondering an existential question at one of the industry’s most important conferences last week.

The Association of National Advertisers’ Masters of Marketing conference in Orlando, Florida, which ended Saturday, brought thousands of marketing leaders to discuss how they’re creating growth for their companies in a landscape where consumers are snubbing advertising and increasingly looking for more from the brands they buy from. The preceding year brought big changes for marketing. In June, McDonald’s global CMO left and the company said her role would not be directly replaced. Similar changes occurred at Uber, Coca-Cola, Johnson & Johnson and a slew of other companies.

The responsibilities of the top marketers at major brands have sprawled in the last several years, meaning they’re responsible for more than ever before. The CMOs that worry about advertising and nothing else are being pushed out, experts say. But even as the title may change, the responsibilities remain crucial as companies need to understand how they can connect with culture and know what consumers want.

One closely watched yardstick for CMO tenure is executive consulting firm Spencer Stuart’s “CMO Tenure Study,” which shows the average CMO tenure among 100 of the most-advertised U.S. brands has fallen slightly to 43 months in 2018, compared to 44 in 2017. The tenure has risen from 24 months of average tenure in 2004, but many in the industry point out turnover is more rampant than in the CEO or CFO role. Spencer Stuart said the relative stability of the role among the top 100 advertisers might mask “the volatility of the role more broadly.” Plus, in 2019, there have been a slew of CMO changes outside the top 100 advertisers.

But even though many companies are getting rid of a traditional CMO title doesn’t mean the responsibilities of a company’s top marketer are going away. Those responsibilities are at times going to other leaders within an organization, or a company is hiring someone with a different kind of title, like a “Chief Growth Officer” or a “Chief Brand Officer.”

“Most people would tell you that this job has gotten exponentially harder in the last few years,” said Dunkin’s CMO Tony Weisman during an interview with CNBC at the conference. “I think what they are recognizing, smartly, is that when you see chief customer officer, chief growth officer, those are just different ways of saying it … Good organizations that have the right CMO role were already thinking about growth and the experience and all that.”

For companies where a CMO was solely responsible for making ads, those days appear to be over. Weisman spoke onstage at ANA about how Dunkin’ is connecting with consumers with everything from the coffee itself, branding and even stunts like Dunkin’-themed nail polish.

“In a lot of cases what you’re seeing is organizations where the CMO is really just buying and making ads, not worried about technology, not worried about the experience, not worried about conversions — that’s over,” Weisman said.

That means it’s a bit of a do-or-die moment for CMOs that can’t pick up some of the more technical or privacy-related functions needed for a marketing leader of today.

“A lot of marketers have grown up in this environment and have had to learn a lot of new tricks really quickly,” he said. “None of these CMOs were trained on data platforms. None of them were trained on data security. The next thing you know you’ve got a deal with a platform or whatever and they breach your data, you’re the one getting the call from the CEO.”

Alicia Tillman, CMO of software giant SAP, told CNBC marketing is a rare function that touches many other areas of a company, which means the “stakes are pretty high and they can often be in conflict with each other.” Tillman spoke onstage about how brands can drive more meaningful connections with consumers to make them more loyal.

“When you have so many dependencies on you, you often can carry a perception that, as the old saying goes, ‘you’re the jack of all trades and the master of none,'” she said. “While I believe companies believe they need marketing, I don’t think they’re necessarily willing to die on the vine for marketing.”

She said CMOs can do more to prove their worth.

“Where I feel we can extend the tenure of CMOs is when CMOs are being very upfront and understanding what’s needed of them, commitments on what marketing will deliver and how they’re going to measure success,” she said.

Other industry figures at ANA agreed the the CMO role is different than just a few years ago.

“It’s a vastly different position than it was five or six years ago,” said Avi Dan, founder and CEO of Avidan Strategies. “The CMO always has been the outlet to the consumer. Now companies need to understand the consumer a lot better because the consumer is changing and [CMOs] need to start breaking the silos.”

Dan pointed out the kinds of people entering the role have a different pedigree than they used to have. Someone like Adolfo Villagomez, who was recently named CMO and senior VP of online at Home Depot had joined the company as VP of merchandising strategy. Others are coming into the position from more digitally focused roles instead of people who grew up through the marketing ranks.

“You either adjust completely to this new world or you’re not going to be there,” Dan said. “You can’t just be the guy who makes the ads anymore. That’s not what people want out of companies right now.”

Dana Anderson, CMO of strategic advisory firm MediaLink and former CMO of packaged goods company Mondelez International, said she attributes some of the tumult in the role to the fact that CMOs aren’t given equal footing in the C-suite.

“Most CMOs are not at the CEO’s table, so they’re usually not invited to decide what they’re going to be measured on,” she said.

She added that top marketers need to find metrics that drive growth instead of trying to measure everything and grapple with what it all means.

“Every industry and every company has to figure out their set [of metrics] that are really predictive and helpful. And it’s hard,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: megan graham
Keywords: news, cnbc, companies, cmos, grapple, company, companies, growth, rampant, role, cmo, marketing, need, changing, marketers, tenure, turnover, theyre, big


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Tina Tchen will become president and chief executive of Time’s Up

Lawyer Tina Tchen, who once served as chief of staff to Michelle Obama, has been named president and chief executive of Time’s Up, according to The New York Times. Tchen will replace Lisa Borders, who resigned from the chief executive role earlier this year after sexual misconduct allegations were made against her son. Rebecca Goldman, who had been acting as interim chief executive since Borders’ resignation, will continue as chief operating officer. Prior to getting involved with Time’s Up, Tch


Lawyer Tina Tchen, who once served as chief of staff to Michelle Obama, has been named president and chief executive of Time’s Up, according to The New York Times. Tchen will replace Lisa Borders, who resigned from the chief executive role earlier this year after sexual misconduct allegations were made against her son. Rebecca Goldman, who had been acting as interim chief executive since Borders’ resignation, will continue as chief operating officer. Prior to getting involved with Time’s Up, Tch
Tina Tchen will become president and chief executive of Time’s Up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: courtney connley
Keywords: news, cnbc, companies, white, president, sexual, executive, served, staff, role, chief, tchen, times, women, tina


Tina Tchen will become president and chief executive of Time's Up

Lawyer Tina Tchen, who once served as chief of staff to Michelle Obama, has been named president and chief executive of Time’s Up, according to The New York Times.

Tchen will replace Lisa Borders, who resigned from the chief executive role earlier this year after sexual misconduct allegations were made against her son. Rebecca Goldman, who had been acting as interim chief executive since Borders’ resignation, will continue as chief operating officer.

The Time’s Up advocacy organization was founded in 2017 by a group of women in Hollywood following the numerous sexual assault claims that were made against Harvey Weinstein and other powerful men in the entertainment industry.

Tchen, who was involved in the advocacy organization from the beginning, started the group’s signature legal defense fund for women. The fund has raised more than $24 million thus far and has connected more than 3,600 workers in various industries to legal support for sexual harassment cases.

Prior to getting involved with Time’s Up, Tchen had spent more than 30 years of her career focusing on diversity and inclusion. During her time with the Obama administration, she oversaw the Office of Public Engagement and the White House Council on Women and Girls, and served as an assistant to the president and chief of staff to the first lady. Before joining the White House staff, she was a partner at law firm Skadden, Arps, Slate, Meagher & Flom.

In a series of tweets sent Monday, Tchen expressed her excitement for her new role and said that “fighting for gender equality has been my life’s work, starting when I was in my 20s.”

Following her exit from the White House, the 63-year-old served on the diversity and inclusion task force for the Recording Academy, which presents the Grammys, and an adviser to the Southern Poverty Law Center. In March, the civil rights nonprofit tapped Tchen as an adviser after facing accusations of sexual harassment and racism.

Tchen will step into her new role as president and chief executive of Time’s Up on Nov. 1, forcing her to leave her current position as lead of the law firm Buckley LLP’s workplace culture practice. In her new role, she will remain a chairwoman for The United State of Women organization, where she serves alongside former Obama administration colleague Valerie Jarrett.

Upon hearing the news of Tchen’s appointment, several supporters of the movement tweeted their congratulations to her, including activist Tarana Burke and former first lady Michelle Obama.

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Don’t miss: #MeToo founder Tarana Burke has big plans for the movement in 2018


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: courtney connley
Keywords: news, cnbc, companies, white, president, sexual, executive, served, staff, role, chief, tchen, times, women, tina


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BP CEO Bob Dudley to step down, Bernard Looney will succeed

British Petroleum (BP) Chief Executive Bob Dudley (R) participates to a conference during the event “Tomorrow in Motion” on October 1st, 2018 on the eve of the first press day of the Paris Motor Show. BP chief executive Bob Dudley will step down from his current role at the end of March next year, the energy giant announced Friday. Dudley, who has worked with BP for 40 years and held the position of CEO for almost a decade, will be replaced by BP’s current upstream chief executive, Bernard Loone


British Petroleum (BP) Chief Executive Bob Dudley (R) participates to a conference during the event “Tomorrow in Motion” on October 1st, 2018 on the eve of the first press day of the Paris Motor Show. BP chief executive Bob Dudley will step down from his current role at the end of March next year, the energy giant announced Friday. Dudley, who has worked with BP for 40 years and held the position of CEO for almost a decade, will be replaced by BP’s current upstream chief executive, Bernard Loone
BP CEO Bob Dudley to step down, Bernard Looney will succeed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-04  Authors: sam meredith
Keywords: news, cnbc, companies, world, chief, worked, role, executive, bob, dudley, press, current, ceo, step, bernard, looney, succeed


BP CEO Bob Dudley to step down, Bernard Looney will succeed

British Petroleum (BP) Chief Executive Bob Dudley (R) participates to a conference during the event “Tomorrow in Motion” on October 1st, 2018 on the eve of the first press day of the Paris Motor Show.

BP chief executive Bob Dudley will step down from his current role at the end of March next year, the energy giant announced Friday.

Dudley, who has worked with BP for 40 years and held the position of CEO for almost a decade, will be replaced by BP’s current upstream chief executive, Bernard Looney.

The FTSE 100 giant said in a press release that Dudley, who is 64 years old, has decided to step down from his role following the delivery of the firm’s 2019 full-year results on February 4, 2020. He will then retire on March 31 later that year.

Looney, 49, will continue with his current role until February 5, at which point he will take the reins from Dudley and join the BP board.

Shares of BP traded up almost 1% on the news.

“It has been the privilege of a lifetime to serve this company and work in this industry for the past four decades. I have worked with so many committed people from all over the world — both inside and outside BP — and I am enormously proud of all the things we have achieved together to provide energy for the world,” Dudley said in a statement on Friday.

“Bernard (Looney) is a terrific choice to lead the company next. He knows BP and our industry as well as anyone but is creative and not bound by traditional ways of working. I have no doubt that he will thoughtfully lead BP through the transition to a low carbon future,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-10-04  Authors: sam meredith
Keywords: news, cnbc, companies, world, chief, worked, role, executive, bob, dudley, press, current, ceo, step, bernard, looney, succeed


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Scandal-plagued Wells Fargo names BNY Mellon’s Charles Scharf as CEO

Wells Fargo named Charles Scharf, chairman and CEO of Bank of New York Mellon, as its new chief executive officer and president on Friday, effective Oct. 21. “Charlie has demonstrated a strong track record in initiating and leading change, driving results, strengthening operational risk and compliance, and innovating amid a rapidly evolving digital landscape,” Wells Fargo Board Chairwoman Betsy Duke said in a statement. Last year, the Federal Reserve capped the bank’s asset growth after Wells Fa


Wells Fargo named Charles Scharf, chairman and CEO of Bank of New York Mellon, as its new chief executive officer and president on Friday, effective Oct. 21. “Charlie has demonstrated a strong track record in initiating and leading change, driving results, strengthening operational risk and compliance, and innovating amid a rapidly evolving digital landscape,” Wells Fargo Board Chairwoman Betsy Duke said in a statement. Last year, the Federal Reserve capped the bank’s asset growth after Wells Fa
Scandal-plagued Wells Fargo names BNY Mellon’s Charles Scharf as CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-27  Authors: terri cullen
Keywords: news, cnbc, companies, ceo, mellons, bank, fargo, scharf, sloan, wells, scandalplagued, mellon, role, names, bny, banks, charles, regulators


Scandal-plagued Wells Fargo names BNY Mellon's Charles Scharf as CEO

Wells Fargo named Charles Scharf, chairman and CEO of Bank of New York Mellon, as its new chief executive officer and president on Friday, effective Oct. 21.

“Charlie has demonstrated a strong track record in initiating and leading change, driving results, strengthening operational risk and compliance, and innovating amid a rapidly evolving digital landscape,” Wells Fargo Board Chairwoman Betsy Duke said in a statement.

The bank struggled for months to find a candidate willing to take the top position since CEO Tim Sloan abruptly resigned in March after 31 years at the fourth-largest U.S. bank. Sloan was supposed to clean up the mess that had claimed his predecessor, John Stumpf, but failed to satisfy regulators’ demands to overhaul the sprawling institution.

Stumpf announced his retirement in October 2016 after trying to deal with a scandal in which employees had created millions of fake bank accounts to meet sales quotas, severely damaging Wells Fargo’s reputation and spurring scrutiny from regulators and Congress. Last year, the Federal Reserve capped the bank’s asset growth after Wells Fargo discovered more problems with customer dealings.

The bank’s general counsel, Allen Parker, took over as interim CEO after Sloan’s resignation. Parker will continue in that role until Scharf joins the company.

Prior to his role at BNY Mellon, Scharf was CEO of Visa and is on the board of Microsoft.

BNY Mellon named CFO Thomas Gibbons as its interim CEO.

Scharf, 54, started his career in 1987 at Commercial Credit, a consumer finance company run by Jamie Dimon and Sandy Weill — executives who went on to lead two of America’s biggest banks.


Company: cnbc, Activity: cnbc, Date: 2019-09-27  Authors: terri cullen
Keywords: news, cnbc, companies, ceo, mellons, bank, fargo, scharf, sloan, wells, scandalplagued, mellon, role, names, bny, banks, charles, regulators


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Kal Penn only made $75,000 for his breakout role — he says this was his worst side hustle

As an actor, Penn has starred in the “Harold & Kumar” comedy film franchise and on TV shows like “House” and “Designated Survivor.” In 2004, Penn starred in “Harold & Kumar Go to White Castle,” a movie that would eventually help make the actor a household name, but which also “tanked at the box office,” Penn tells CNBC Make It. The reason, Penn says, is that service industry employers worry that even a somewhat recognizable actor could become a distraction in the workplace. Fortunately for Penn,


As an actor, Penn has starred in the “Harold & Kumar” comedy film franchise and on TV shows like “House” and “Designated Survivor.” In 2004, Penn starred in “Harold & Kumar Go to White Castle,” a movie that would eventually help make the actor a household name, but which also “tanked at the box office,” Penn tells CNBC Make It. The reason, Penn says, is that service industry employers worry that even a somewhat recognizable actor could become a distraction in the workplace. Fortunately for Penn,
Kal Penn only made $75,000 for his breakout role — he says this was his worst side hustle Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-26  Authors: tom huddleston jr
Keywords: news, cnbc, companies, penn, kal, job, 75000, movie, white, kumar, actor, role, hustle, harold, breakout, acting, jobs, industry, worst


Kal Penn only made $75,000 for his breakout role — he says this was his worst side hustle

Kal Penn’s eclectic career path has had twists and turns that rival any blockbuster movie, taking him from Hollywood to the White House to primetime television.

As an actor, Penn has starred in the “Harold & Kumar” comedy film franchise and on TV shows like “House” and “Designated Survivor.” And, in 2009, Penn took a break from acting to take a job in President Barack Obama’s administration, serving as an associate director in the White House Office of Public Engagement until 2011. Now, Penn’s career is taking a new turn, as a TV show he co-created and stars in, a new sitcom called “Sunnyside,” premieres on NBC on Thursday, Sept. 26.

Starring in a primetime show where he’s also a writer and executive producer is a sign that the 42-year-old Penn has established a strong foothold for himself as a creator and performer in the entertainment industry. But 15 years ago, Penn was still establishing himself as an actor, which often meant working various side-jobs — Penn spent time waiting tables, bartending, even working as a telemarketer before breaking out as an actor — to support himself.

In 2004, Penn starred in “Harold & Kumar Go to White Castle,” a movie that would eventually help make the actor a household name, but which also “tanked at the box office,” Penn tells CNBC Make It. The movie made less than $24 million in theaters worldwide (it didn’t even crack the top 100 highest-grossing movies of 2004, according to Box Office Mojo), though it later found a bigger audience through word-of-mouth and DVD sales that helped launch two sequels.

“I never got a big paycheck from ‘Harold and Kumar Go to White Castle,'” says Penn, who adds that he and the film’s other lead star, John Cho, each made a gross salary of $75,000 for the movie.

What’s more, Penn took home much less than that amount after he’d finished divvying up his movie salary among his team of agents and other representatives. “You deduct your taxes, 10% to your agent, 15% your manager, 5% to your lawyer, your publicity fees and then your rent,” Penn says. “And it averages out to probably about five-and-a-half months of living expenses once you’ve paid everybody and paid your taxes.”

Penn says a working actor is likely to keep “maybe 30% of your paycheck” after paying taxes and a team of representatives (meaning he would have been left with roughly $22,500 from his salary on the first “Harold & Kumar” film).

And, in general, he adds, actors typically make money “in these weird chunks” depending on what projects they’re able to book at any given time. That’s why many actors, especially those just beginning their careers, have to work a series of side hustles in order to support themselves.

The problem Penn ran into after getting his salary for “Harold & Kumar Go to White Castle,” though, was that he hadn’t even made enough money from the movie to support himself for half of a year, but between that film and his previous work (he had a supporting role alongside Ryan Reynolds in 2002’s “Van Wilder”), Penn had become enough of a recognizable actor that he suddenly had trouble landing any service industry jobs to boost his income.

“You want to get a job to pay your rent, but you find out that, you know, you did ‘Harold & Kumar Go to White Castle,’ and that means that you can’t get a job at Jamba Juice,” Penn tells CNBC Make It. The reason, Penn says, is that service industry employers worry that even a somewhat recognizable actor could become a distraction in the workplace.

“If customers are stopping to talk to you about a project you did, then why would [an employer] hire you when they could hire somebody who might not be recognized?” Penn reasons.

It was a nerve-wracking Catch-22 for Penn: his acting career was starting to take off, but he still wasn’t making enough money from Hollywood gigs to cover all of his living expenses, and his burgeoning fame made it more difficult for him to get a side job. “The tricky thing was there’s no guarantee that you’re gonna get another acting job, and all of a sudden Starbucks won’t hire you,” Penn reiterates, adding: “Most of the service jobs, like waiting tables, bartending and stuff that I’d done before, I couldn’t get.”

Fortunately for Penn, his acting career did not stall out, and he continued getting acting jobs, including landing small roles in movies like 2005’s “Son of the Mask” and “Superman Returns” in 2006. And, as “Harold & Kumar Go to White Castle” eventually established a more mainstream following after being released on DVD, Penn landed multi-episode jobs on TV shows like “24” and “How I Met Your Mother” while also releasing the sequel film “Harold & Kumar Escape from Guantanamo Bay” in 2008.

While Penn no longer has to rely on side jobs to bolster his Hollywood earnings (he’s made enough money from acting that he was able to buy a home in Los Angeles for nearly $1.2 million at the end of 2007), he talked to CNBC Make It about some of the best and worst part-time jobs he had to take while trying to establish his acting career.

“Telemarketing was awful. I hated that job. But, you know, it paid the bills for a little while,” says Penn, who adds that he took a telemarketing job thinking it could serve as “an acting exercise” where he could try role-playing different characters while talking to people on the phone all day.

“That was not the case,” Penn explains. “It was very shady. And it seemed like we were calling people on fixed incomes to ask for donations. So, I quit very shortly after I started.”

While Penn still sees standard service industry jobs like waiting tables and bartending as “paying your dues” in the entertainment industry, he says his favorite side-job was slightly more physically intense.

“My favorite job was working on a farm,” he says. “One summer, I went back to New Jersey, where I grew up, and worked on a farm all summer. And I was ripped by the end of that summer, let me just tell you.”

“Sunnyside” airs Thursdays at 9:30pm ET/PT. Catch the series premiere tonight on NBC.

Disclosure: NBC and CNBC are both owned by the same parent company, NBCUniversal.

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Chris Hemsworth almost lost his ‘Avengers’ role to baby brother Liam

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Company: cnbc, Activity: cnbc, Date: 2019-09-26  Authors: tom huddleston jr
Keywords: news, cnbc, companies, penn, kal, job, 75000, movie, white, kumar, actor, role, hustle, harold, breakout, acting, jobs, industry, worst


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Iran’s Rouhani calls US the ‘supporter of terrorism’ in the Middle East and downplays role in Saudi oil attacks

NEW YORK — Iranian President Hassan Rouhani called the United States the “supporter of terrorism” in the Middle East and downplayed Tehran’s role in the recent Saudi oil facility attacks in a Tuesday interview with Fox News. “Today, unfortunately, America is the supporter of terrorism in our region and wherever America has gone, terrorism has expanded in that wake. Wherever we have gone, on the other side, we have defeated terrorism,” Rouhani said. Rouhani gave a hypothetical response when asked


NEW YORK — Iranian President Hassan Rouhani called the United States the “supporter of terrorism” in the Middle East and downplayed Tehran’s role in the recent Saudi oil facility attacks in a Tuesday interview with Fox News. “Today, unfortunately, America is the supporter of terrorism in our region and wherever America has gone, terrorism has expanded in that wake. Wherever we have gone, on the other side, we have defeated terrorism,” Rouhani said. Rouhani gave a hypothetical response when asked
Iran’s Rouhani calls US the ‘supporter of terrorism’ in the Middle East and downplays role in Saudi oil attacks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-24  Authors: amanda macias
Keywords: news, cnbc, companies, rouhani, trust, trump, supporter, irans, systems, weapon, york, terrorism, oil, east, united, saudi, middle, attacks, role, downplays


Iran's Rouhani calls US the 'supporter of terrorism' in the Middle East and downplays role in Saudi oil attacks

NEW YORK — Iranian President Hassan Rouhani called the United States the “supporter of terrorism” in the Middle East and downplayed Tehran’s role in the recent Saudi oil facility attacks in a Tuesday interview with Fox News.

“Today, unfortunately, America is the supporter of terrorism in our region and wherever America has gone, terrorism has expanded in that wake. Wherever we have gone, on the other side, we have defeated terrorism,” Rouhani said.

Rouhani gave a hypothetical response when asked about the Sept. 14 strikes on the world’s largest crude-processing plant and oil field.

“Let’s assume if it was from Iran, all of the monies received from the United States from these defensive systems, from these weapon systems, from these radar systems installed in Saudi Arabia and the Arabian peninsula, how come, they were not able to prevent that missile from hitting the target?” he asked, adding that the strikes were embarrassing for U.S.-made missile defense systems.

The drone attacks, which forced the kingdom to shut down half of its oil production operations, triggered the largest spike in crude prices in decades and renewed concerns of a budding conflict in the Middle East. While Tehran has been widely blamed for the attacks, it maintains that it was not involved.

Rouhani also downplayed meeting with Trump during the U.N. General Assembly in New York to discuss a nuclear weapon deal.

“Why would we bump into one another? If we seek to pursue higher goals to benefit both countries, both people, it must be planned,” explained Rouhani. “But prior to that, we must create mutual trust and the trust is something that Mr. Trump took away from this framework. We had an agreement and Mr. Trump exited without a valid justification and illegally from an international agreement,” he said of the U.S. decision to withdraw from the Joint Comprehensive Plan of Action, or JCPOA.

Trump and Rouhani have said they will not meet on the sidelines of the U.N. despite being in close proximity this week. Rouhani is slated to address the U.N. General Assembly on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-09-24  Authors: amanda macias
Keywords: news, cnbc, companies, rouhani, trust, trump, supporter, irans, systems, weapon, york, terrorism, oil, east, united, saudi, middle, attacks, role, downplays


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