The Strategist
Management & Strategy

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...

Mittelstand, Germany’s Hedge Against Crisis - 01/10/2024

It’s a stormy weather for Europe's biggest economy right now: Germany is facing a recession as high energy costs are becoming a huge burden, for the country's industrial companies especially. All this would be spelling trouble for the entire region if not for the Mittelstand, a bunch of stable German businesses that keep working hard and inspire others. When it comes to discussions about a German...

BP to strip former CEO of over $40M in remuneration - 12/15/2023

According to a press release from BP, Bernard Looney, who left the company in September, would receive less money from his previous employer than he is due—roughly 32.4 million pounds ($40.9 million). The reason Looney departed the organization on September 12th was that he "was not fully candid in disclosing his personal relationships with colleagues." The board of directors at BP deemed this to...

Zuckerberg sells $185m worth of Meta shares for the first time in two years - 12/05/2023

Zuckerberg sold Meta stock for the first time in two years. The business owner received over $185 million for 682,000 securities. As the value of Meta shares increased, Mark Zuckerberg sold the company's shares for the first time in two years, according to regulatory filings cited by Bloomberg. The agency notes that Zuckerberg received over $185 million in exchange for 682,000 shares. During...

Australian banks threaten to cut bonuses for remote working - 11/24/2023

According to the Financial Times, one of Australia's biggest banks, ANZ, has informed its employees that if they work fewer than half of their hours in the office, their bonus payments may be reduced. The newspaper refers to a letter that was sent this week to over 40,000 bank employees in Australia, New Zealand, India, and the Philippines. They were informed that during the current fiscal year,...
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