SEOUL (Reuters) – Hyundai Motor <005380.KS> Group’s executive vice chairman Euisun Chung is set to be made chairman of the South Korean carmaker as soon as on Wednesday, Yonhap news agency reported, as he formally takes over the reins from his octogenarian father.

Hyundai Motor plans to hold a board meeting possibly on Wednesday to promote Chung to chairman of South Korea’s second-largest conglomerate, Yonhap reported on Tuesday, citing unnamed corporate sources.

Hyundai declined to comment.

Chung, born in 1970, has led Hyundai Motor Group’s recent push in electric vehicles (EVs), mobility and hydrogen cars. In July, he announced that Hyundai and sister company Kia Motors <000270.KS> aimed to sell 1 million electric vehicles (EVs) in 2025, jointly targeting a more than 10% share of the global market for EVs.

Chung’s father and group patriarch Mong-Koo Chung gave up his board seat in Hyundai Motor earlier this year after stepping

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Ananthakrishna, former Chairman and Chief Executive Officer of Karnataka Bank Ltd, died in Mangaluru on Sunday, after a prolonged illness. Ananthakrishna (74) is survived by his wife and a son.

He was the ninth chairman of the bank and had an association of 45 years with the bank in different capacities. After joining the bank in 1971, he rose through the ranks before becoming the Chairman.

Born on October 27, 1946, at Talemogaru village of Bantwal taluk in Dakshina Kannada district of Karnataka, Ananthakrishna completed his post graduation in Mathematics from Mysore University. He began his career as a teacher at Deepika High School at Modankaup and as lecturer at Manipal Engineering College (later renamed Manipal Institute of Technology). He then worked as a programmer for HAL before beginning his career at Karnataka Bank in 1971.

He was promoted as General Manager of the bank in October 1994, as Chief

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WASHINGTON, Oct. 8, 2020 /PRNewswire/ — The Business Council – an association made up of the CEOs of the world’s largest, global companies – today announced that its new board chairman will be Microsoft CEO Satya Nadella. Nadella succeeds Nike President and CEO John Donahoe in the role.

“The Business Council has always played a critical role in helping the world’s business leaders connect with and learn from each other,” said Nadella.

“While the start of a new decade brings hope and excitement, we quickly saw the world come to a near standstill at the start of the year. This community has been invaluable in helping CEOs navigate and lead through this unprecedented time in history,” explained Nadella.  “John Donahoe has done an outstanding job in leading this group, keeping us informed and connected, and I’m humbled and honored to follow him as chairman.”

“The world’s largest

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A proposal for Premier League clubs to play B teams in the English Football League is a “hideous” idea, according to one chairman.

Manchester City chief executive Ferran Soriano said football in the top flight was not a sustainable business even before the coronavirus crisis and suggested the introduction of second-string sides would rectify that.

However, Dale Vince, chairman at Sky Bet League Two Forest Green, believes the idea would destroy over a century of heritage and a better solution to the unsustainability argument would be for the Premier League to filter down more cash.

Manchester City chief executive Ferran Soriano suggested B teams could play in the EFL (Martin Rickett/PA)

“I think it is a hideous idea. It might be great for some clubs in the Premier League but it is not great for the EFL,” he told the PA news agency.

“We don’t just want to become

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FRANKFURT (Reuters) – Investors welcomed former Daimler <DAIGn.DE> chief executive Dieter Zetsche’s decision to forego his role as chairman of the German carmaker, announced at the weekend and starting a race to find an independent head of the company’s supervisory board.

Zetsche, 67, a former head of the Mercedes-Benz brand, was due to take a seat as chairman of the board of directors at the Stuttgart-based company after a two-year cooling off period.

In a surprise move, he announced in an interview in Sunday newspaper the Frankfurter Allgemeine Sonntagszeitung that he would renounce his position, breaking a decades-old practice among German companies of promoting board members to directors.

Now Manfred Bischoff, Daimler’s current chairman needs to find a new successor candidate before he retires on March 31, 2021.

“This enables Daimler to reorient itself under new management, a step which from our point of view is necessary,” Michael Muders, a

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FRANKFURT (Reuters) – Daimler’s Dieter Zetsche will not seek to become chairman of the German carmaker’s supervisory board, he told Frankfurter Allgemeine Sonntagszeitung newspaper.

Zetsche, 67, a former chief executive of the company which owns the Mercedes-Benz brand, was due to take a seat as chairman on the board of directors, which in Germany is known as the supervisory board.

“Naturally I would like to have done the job. I also believe I would have done it well. But in the end I decided that I do not want it, that I renounce this opportunity,” Zetsche is quoted as telling the paper.

“We acknowledge Dr. Zetsche’s decision with great respect,” a Daimler spokesman said.

Zetsche says Daimler’s top investors would have backed him to succeed Manfred Bischoff but that there may have been opposition from other shareholders.

“The fact that after 40 years of work I am not regarded by

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Nikola Corp. founder Trevor Milton has voluntarily stepped down as executive chairman of the company’s board of directors, sending shares plunging to new lows.

Ticker Security Last Change Change %
NKLA NIKOLA CORPORATION 28.51 +0.93 +3.37%

Milton will be replaced by board member and former General Motors Co. vice chairman Stephen Girsky, effective immediately.

“The focus should be on the Company and its world-changing mission, not me,” Milton said in a letter to employees. “I intend to defend myself against false allegations leveled against me by outside detractors.”

Milton’s resignation comes 10 days after short-seller Hidenberg Research accused Nikola of being an “intricate fraud” that mislead partners about its technology, causing both the U.S. Securities and Exchange Commission and Department of Justice to launch investigations.

Nikola called the claims “false

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PURCHASE, N.Y., Sept. 20, 2020 /PRNewswire/ — “All of us at PepsiCo are devastated by the passing of Don Kendall. Don was the architect of the PepsiCo family. He was relentless about growing our business, a fearless leader, and the ultimate salesman. He believed in business as a way to build bridges between cultures, laying the foundation of our commitment to Winning with Purpose and defining the values that we refer to today as The PepsiCo Way. In many ways, he was the man who made PepsiCo, PepsiCo.  

Don was an inspiration to all of us leaders at PepsiCo, from his endless passion to live and make a difference in the world; to his creativity and entrepreneurship; his belief in building bridges between cultures through business; his capacity to connect people and build relationships; his respect for diversity; and his support for the less privileged.

My wife, Maria,

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Shares of UBS  (UBS) – Get Report and Credit Suisse  (CS) – Get Report rose on Monday after a media report said UBS Chairman Axel Weber was examining the possibility of a merger between the two Swiss banking giants.

The coronavirus pandemic and low or negative interest rates have buffeted banks around the world.

UBS shares recently traded at $12.54, up 2.4%. They have eased 0.3% so far this year. Credit Suisse American depositary receipts srecently traded at $11.24, up 4.5%. They have fallen 16% year to date.

Weber is looking at a possible tie-up with Credit Suisse as part of a regular examination of strategic options, knowledgeable sources told Bloomberg.

UBS has discussed the idea with consultants, but it hasn’t approached its executive board about the possibility, the sources said. They said the two banks aren’t currently conducting formal talks.

The Swiss finance blog Inside

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By Doug Steinhardt

They say, ‘Before borrowing money from a friend decide which you need most,’ the money or the friend. Well, governor chose. In the middle of a pandemic, where every New Jersey household and small business has sacrificed, made tough choices, and scaled back spending, Gov. Phil Murphy’s appetite to spend your money grew. New Jersey’s tax problems will continue as long as Democrats control Trenton, but we can change that. The road to a safer, more affordable New Jersey isn’t paved with liberal handouts and borrowed money. It’s paved with smart choices.

It’s time for New Jersey’s leaders to wake up and realize that the world has changed post-COVID and the way government operates must change with it. We need modern policies that reduce taxes, relax regulations, reward hard work and respect the U.S. Constitution.

For example, New Jersey annually ranks among the least tax-friendly states in

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