The Strategist
Management & Strategy

HSBC starts looking for new CEO - 05/16/2024

Following current CEO Noel Quinn's intention to step down, British bank HSBC Holdings Plc has begun looking for a new CEO and is considering choosing a new leader from a pool of internal candidates. Quinn, who has led HSBC for almost four years, said that he plans to leave the position in order to spend more time in his personal life. He will hold this position until the board of directors of the...

Walmart to cut hundreds of corporate employees and relocate staff - 05/14/2024

The Wall Street Journal writes that Walmart Inc., the biggest retailer in the United States, is laying off hundreds of corporate staff members. According to sources in the publication, the corporation is also requesting that the majority of its remote workers come back to the office. Furthermore, according to one of the sources, Walmart plans to transfer employees from its outlying offices—such...

Median compensation of heads of the largest U.S. companies in 2023 reaches record $23.7 mln - 04/22/2024

According to a survey by consulting firm Equilar, chiefs of the top U.S. corporations received record-breaking median salary in 2023—an increase of 11.4% to $23.7 million. Of the total, $15.3 million, or 64.6%, went into equity compensation. Equilar calculated CEO compensation for businesses with annual revenues of $1 billion or greater. Hock Tan, the CEO of Broadcom, had the highest salary of...

Shell's head earns over $10 mln in 2023 - 03/15/2024

The company reported that Wael Sawan made a total of 7.94 million pounds ($10.1 million) in his first year as Shell's CEO. Sawan receives a basic pay of 1.4 million pounds, an annual bonus of 2.7 million pounds, and a bonus of 2.6 million pounds in the form of shares, which he will only be able to utilize in a few years if the company reaches specific milestones. Furthermore, the executive was...

US pharma company AbbVie changes CEO - 02/21/2024

Board of directors of the US pharmaceutical giant AbbVie voted in favor of elevating Robert Michael, current president and chief operations officer, to the position of CEO. Richard Gonzalez, the current CEO, has held the role since the company's founding in 2013. He will become executive chairman on July 1st. Michael is going to the board as well. Gonzalez stated in a press release, "The...

IBM demands managers in the US go back to working in offices - 01/31/2024

According to Bloomberg, which cites an internal company document, International Business Machines Corp. (IBM) has mandated that its managers in the United States resume working in offices. Even if they are permitted to work from home, managers are nevertheless required to work from the office or at client locations three days a week. Anyone who refuses to report back to the office, except for...

JPMorgan to reorganize business and change senior management team - 01/29/2024

US bank JPMorgan Chase & Co announced senior management changes and a corporate reorganization. According to a press release from the bank, Troy Rohrbaugh, co-head of Markets and Securities, and Jennifer Piepszak, co-head of Consumer and Community Banking (CCB), will lead the expanded Commercial & Investment Bank together. The latter will combine the Global Investment Banking,...

Swiss financial regulator FINMA to be headed by ECB top manager Walter - 01/26/2024

According to the regulator's press office, Stefan Walter will take over as chairman of the Swiss Financial Market Supervisory Authority (FINMA) on April 1, 2024. Since 2014, Walter has held key posts at the European Central Bank, where he was in charge of overseeing systemically important financial institutions and keeping an eye on vulnerabilities in the eurozone banking sector. Before then,...

French watchdog fines Amazon unit for snooping on employees - 01/24/2024

The local branch of the US company Amazon.com Inc. that handles warehouse management has been penalized €32 million by the French data privacy authority CNIL for "excessive intrusion" into the personal lives of its employees, writes MarketWatch. The regulator claims that the unit gathered information on worker productivity and idle time using package scanners. According to the CNIL, the...

Ford to lay off 1,400 employees due to cutbacks in electric pickup truck production - 01/22/2024

Ford announced that it will be laying off workers who make the electric pickup vehicles, known as the F-150 Lightning. Approximately 1,400 employees will be impacted by the decision, which has to do with the curtailment of manufacturing for this particular kind of electric car. Ford plans to reduce the number of workers engaged in the F-150 Lightning electric pickup vehicle production, according...
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