Latest news with #CEOChange
Daily Mail
10 hours ago
- Automotive
- Daily Mail
Nissan Armada Nismo gets performance makeover
A family-moving SUV just got a performance makeover. The internet doesn't appear sold. Nissan is rolling out a sport-tuned version of its high-rolling, three-row Armada SUV, a near-luxury set of wheels that already starts at $60,000. The new trim is called the Armada Nismo — it's set to hit dealerships lots this fall. It's also hugely important for an automaker that recently posted flagging sales and a CEO change . The standard Armada got a full redesign for this year, swapping its aging V8 engine for a more efficient and powerful V6. The style reboot features a boxier look with width-spanning LED taillights, extra chrome, and a plush seven- or eight-seat interior. Now, Nissan is cranking up the attitude. The Nismo trim adds red interior and exterior accents, reworked lower body panels, and a squatter stance. Under the hood, the Nismo gets a 35-horsepower bump and tweaked valves that deepen the exhaust sounds — but only if you spring for premium fuel. 'Armada NISMO expands the Armada family to connect with drivers who share a passion for excitement, performance, and bold, sports-inspired design,' a product spokesperson told While Nissan hasn't revealed pricing yet, current Armada trims range from $59,000 to $82,000. That positions the Nismo squarely in the territory of premium family SUVs — a growing, lucrative market segment in the US, where large vehicles continue to dominate new car sales. But the launch comes at a tricky time for the automaker. Nissan has faced shrinking profits, leadership shakeups, and ongoing headwinds from President Donald Trump's 25 percent automotive tariffs — a policy that affects models like the Japan-produced Armada . Nissan has been in big trouble for months. In November, executives at the company warned the automaker only had '12 months' of cash on hand to survive . Its financial position comes after turmoil in the C-suite. Carlos Ghosn, the former CEO who helped revive the company in the 2000s, was arrested in 2018 by authorities in Tokyo. They believed the executive misused company assets. Ghosn was flown out of the country in a plane's cargo in 2019. He has remained in Lebanon since. In his absence, the company had an aging portfolio with old transmission technology. The cars were built at dozens of factories around the world, leaving the company extremely susceptible to global onshoring trends. A leadership vacuum appeared at the company after his legal turmoils. Makoto Uchida, a Japanese executive, took over, but was ousted after six years. Ivan Espinosa took over as top boss earlier this year. Despite selling the fifth-most cars in the US last year, Moody's, a credit agency, downranked Nissan to 'junk' status earlier this year .
Yahoo
2 days ago
- Business
- Yahoo
Alex Martins Steps Down as Orlando Magic CEO
Alex Martins has stepped down as CEO of the Orlando Magic after fourteen years in the role. Martins has worked for the Magic since 1989 and will stay with the team in the newly created role of vice chair. Advertisement He will act as a senior advisor to the Orlando Magic Board of Directors. With Martins stepping down, Magic executive Charlie Freeman will lead all business operations. He's been with the Magic for thirty years and will oversee just about everything besides managing the team's roster. That still lies with Magic President of Basketball Operations Jeff Weltman. The other big piece of this is the increased involvement of the owners of the Magic, the DeVos family. Rich and Helen's grandchildren, Ryan and Cole, will have increased roles moving forward. This leadership restructuring will ultimately transfer ownership to the third generation of the DeVos family down the road. Click here to download our free news, weather and smart TV apps. And click here to stream Channel 9 Eyewitness News live.
Yahoo
7 days ago
- Business
- Yahoo
Searching for FTSE 100 shares to buy ‘on the dip'? Here's one that's worth a serious look
The market dislikes nothing more than uncertainty. So, on news that CEO Rob Perrins is to leave the role, it's no surprise that The Berkeley Group (LSE:BKG) is one of the FTSE 100's worst performing stocks in the past 24 hours. In a release on Friday (20 June), the housebuilder announced the long-standing chief executive will move over to become chair on 5 September. He will replace Michael Dobson, who has held the role for the last three years. The merry-go-round will also see Richard Stearns, Berkeley's chief financial officer since 2015, take over from Perrins in the autumn. Regarding Stearn's appointment, Berkeley was upbeat, commenting that the incoming CEO Has a strong understanding of the industry and Berkeley's business model. His appointment will uphold Berkeley's longstanding tradition and preference for promoting from within which maintains the culture and values of the organisation and provides continuity and stability for the Company, our people and shareholders Yet, it's not surprising investors' nerves are rattled by the departure. Perrins has been chief executive for 16 years. The change is especially sensitive as it comes just after the company launched its Berkeley 2035 10-year growth strategy in December. Berkeley's share price sank 8% on the news. Has the market overreacted, though? As with all chief executive appointments, only time will tell. What's encouraging, however, is that Berkeley's new chief executive is another company veteran. Stearns first joined the business in 2002, and he understands the company inside and out. Indeed, Stearns' journey echoes that of the man he is set to replace. Perrins held the role of CFO for eight years before becoming chief executive in 2009. On top of this, Stearns is taking over amid signs that the housing market is on course for a strong and sustained recovery. Berkeley's full-year financials, also released Friday, showed revenues rise 0.9% in the 12 months to April. Property deliveries (including joint ventures) increased to 4,329 from 3,927 the prior year, while average asking prices dropped to £593,000 from £664,000. Pre-tax profits dipped 5.1%, however. But things could be looking up for the FTSE builder as buyer affordability improves. Three-quarters of sales have already been secured for the new year, it said yesterday. And despite the poor outlook for the UK economy, reservations could keep climbing if (as expected) falling inflation prompts the Bank of England to keep slashing rates. Following Friday's price drop, Berkeley shares offer attractive value for money in my view. Its price-to-book (P/B) ratio of 1.1 times sits just above the conventional value watermark of one. But this is still well below the company's 10-year average of around 1.6. There are risks given the change of chief executive and the broader economic environment. But I feel it's still a strong FTSE stock to consider as population growth supercharges demand for housing, and its Berkeley 2035 strategy boosts newbuild output and exposure to the white-hot rentals sector. The post Searching for FTSE 100 shares to buy 'on the dip'? Here's one that's worth a serious look appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes href=" better investors. Motley Fool UK 2025
Reuters
09-06-2025
- Business
- Reuters
T-Mobile US boss set to leave post early, Handelsblatt newspaper reports
FRANKFURT, June 9 (Reuters) - The head of T-Mobile U.S. (TMUS.O), opens new tab, the fast-growing and profitable subsidiary of Germany's Deutsche Telekom ( opens new tab, is due to step aside before the end of his current contract, German newspaper Handelsblatt reported on Monday. Deutsche Telekom did not immediately respond to a request for comment on the report. Handelsblatt reported Mike Sievert, who has headed the mobile operator since 2020, wanted to take a break and that Chief Operating Officer Srini Gopalan, until recently head of Deutsche Telekom's Germany business, was a leading candidate to succeed him. The chief executive would step down this year or next, the newspaper added. Previously facing troubles, T-Mobile has become a revenue and profit driver in recent years. Thanks to strong figures from the U.S. mobile operator, Deutsche Telekom has raised its earnings targets several times. T-Mobile U.S. customer growth fell short of expectations at the beginning of the year due to an intensified price war. The subsidiary nonetheless aims to win 5.5 to 6 million new users by 2025. Sievert, who joined T-Mobile as marketing head in 2012, had been due to remain in post until 2028.
News.com.au
09-06-2025
- Business
- News.com.au
‘Best to pivot and move on': John Kanga announces removal of Tom Reilly as CEO of Melbourne Racing Club
Melbourne Racing Club chairman John Kanga has revealed the sudden removal of chief executive Tom Reilly. Reilly, the former Thoroughbred Breeders Australia and Aushorse chief executive, joined the MRC in January. 'Sometimes it just doesn't work out,' Kanga said in a statement on Monday night. 'Tom was only CEO for three months and when things don't go as well as they should, it is best to pivot and move on.' • PUNT LIKE A PRO: Become a Racenet iQ member and get expert tips – with fully transparent return on investment statistics – from Racenet's team of professional punters at our Pro Tips section. SUBSCRIBE NOW! Kanga has appointed Tanya Fullerton, vice chairman of the Thoroughbred Racehorse Owners' Association, as chief operating officer. Fullerton has more than 30 years of corporate, racing and administrative experience. 'Everyone can be assured that we have put a management structure in place to ensure a smooth transition,' Kanga said. 'Tanya has an excellent reputation and deep experience and relationships across the racing industry.' Reilly's departure comes in a period of relative stability at the MRC, following board room and administrative unrest last year. Kanga last year led a successful take over of the board and quickly went about actioning key election promises, including the retention of racing at Sandown. Kanga also announced that the manager of private training centre Pinecliff would be employed as a consultant 'for the next few months to help us work out the best approach and protocols' to improve the club's race tracks. Originally published as 'Best to pivot and move on': John Kanga announces removal of Tom Reilly as CEO of Melbourne Racing Club
