Latest news with #PTO
Sky News
10 hours ago
- Business
- Sky News
Saudi sports investor Surj goes extra mile for $20m triathlon stake
The sports investment arm of Saudi Arabia's sovereign wealth fund is buying a stake in the body which organises professional triathlons around the world. Sky News has learnt that Surj Sports Investment is in advanced talks about a deal to inject roughly $20m into the Professional Triathletes Organisation (PTO). A deal could be unveiled as part of a wider PTO funding round imminently, a source in the Midde East said on Wednesday. It will be the latest investment from Surj, which also owns stakes in the Professional Fighters League and the sports streaming platform DAZN. Previously known as SRJ, Surj is a subsidiary of Saudi's Public Investment Fund (PIF), which owns a controlling stake in Newcastle United Football Club. Surj's investment will come in addition to previously announced funding from Cordillera Investment Partners, which took a $10m stake earlier this year. Other investors in the PTO include the media behemoth Warner Brothers Discovery and Sir Michael Moritz, the technology industry veteran. Sky News reported on the triathlon body's plans to raise capital in the spring of last year. It has been working with Oakvale Capital, a London-based advisory firm, on the fundraising since then. This year's T100 Triathlon World Tour consists of nine races, with the next due to be staged in London next month. The World Championship Final will take place in Qatar in December. The PTO, which is partly owned by athletes, has embarked on a significant commercial overhaul in a bid to capitalise on growing sponsor and broadcast interest from around the world. In December 2022, it announced a fundraising - said to have brought in more than $30m - led by Divergent Investments, a private equity firm. As part of its efforts to accelerate the commercialisation of the sport, the PTO recruited Chris Kermode, the former Association of Tennis Professionals boss, as its chairman. "This is an exciting opportunity to modernise a sport and give these ultimate endurance athletes the opportunity to showcase their extraordinary talents, while being rewarded appropriately," Mr Kermode said at the time of the previous fundraising. Most frequently watched in Britain during the summer Olympic Games, professional triathlons consist of a 2km swim, 80km bike-ride and 18km run. The PTO is run by Sam Renouf, a former British international athlete, who was appointed as chief executive in 2019. Since then, it has secured substantial sponsorship deals with companies including Canyon and Garmin, the luxury watchmaker.
Edmonton Journal
a day ago
- Sport
- Edmonton Journal
Maple Leafs GM hopeful in acquiring 'dynamic' playmaker Matias Maccelli
Article content After he was named to the NHL's all-rookie team in 2022-23 with the Arizona Coyotes, Maccelli had 17 goals and 40 assists in 82 games in 2023-24. 'He's a dynamic playmaker, and when you look at some of the areas that we need to address, playmaking ability was one of them,' Treliving said. 'There's a bet here on a player that we think can rebound from the season he had and with some of the players that we have. 'Ultimately, it will come down to the fits and where they all go. We just felt, at the price that it cost us, that this was a chance for a young player who has some dynamic skill and ability, it was worth the bet.' To get the 24-year-old Finland native, Treliving sent a third-round pick in 2027 to Utah. If the Leafs make the playoffs next season and Maccelli has at least 51 points, the pick becomes a second-round choice in 2029. Hours after the Maccelli trade, the Leafs re-signed fourth-line winger Steven Lorentz to a three-year extension with an average annual value of $1.35 million US. 'Stevie's come in and fit really well with our group (after coming to camp last year on a PTO),' Treliving said. 'He's happy here. What's the old saying: 'Don't something with happy.' I'm glad it worked out. It's good to have Steve back.'
Yahoo
a day ago
- Business
- Yahoo
Bolt CEO says unlimited PTO is a 'totally broken' policy — so he killed it in favor of 4 mandatory paid weeks off
Bolt's CEO said he's ending unlimited PTO at the company. CEO Ryan Breslow said undefined PTO policies mean "the good ones don't take PTO" and "the bad ones take too much." Instead, Bolt employees will get four mandatory paid weeks off, the CEO said. "It sounds progressive, but it's totally broken." That's how Bolt's CEO described unlimited paid time off while saying he had just "killed" the policy at the company. On Tuesday, CEO Ryan Breslow said that the San Francisco-based checkout and payments technology company would instead move to a PTO policy that offered four paid weeks off. "When time off is undefined, the good ones don't take PTO. The bad ones take too much," the CEO wrote in a message shared to his LinkedIn profile. "This leads to A-performer burnout. B-performer luxuries. And feelings of unfairness across the board." "So we're flipping the script: no more confusion. Every Bolter now gets 4 weeks of paid vacation (yes, the traditional corporate standard), with the opportunity to accrue more with tenure. Not optional," Breslow added. "We mandate everyone take all 4 weeks off." Unlimited PTO is a perk that a growing number of companies have offered over the last decade. Studies in recent years have examined the perk and its impact on the number of paid days off employees take. A survey from HR platform Namely found that in 2022, employees with unlimited PTO policies took 12.09 days off per year, on average, compared to 11.36 days for their peers with a PTO limit. Similarly, a survey by Expedia found that, compared to the national average in the US, those with unlimited PTO took 3.5 more days off on average in 2022. However, a 2022 report from job search site Joblist found that full-time US employees with unlimited PTO took an average of 10 days off, compared to an average of 11 paid days off work across all vacation policies. A common criticism of an unlimited vacation time policy is that, without the guidance of a set number of days, employees can be unsure how much PTO to take. "We believe a team executing at the pace and scale we do deserves real, protected time off, not vague promises," a Bolt spokesperson told Business Insider. "When we saw in our own data that our A-players weren't taking enough time away, we knew we had to fix it." Bolt, founded in 2014, has raised $957.5 million as of January 2024, according to PitchBook data. In June, the company announced a partnership with Klarna, which will see Klarna's payment plans offered in Bolt's checkout devices. "If we're asking people to move fast, build hard, and operate at the highest level, we need to protect their recovery time with the same intensity," Breslow said. "Execution requires clarity. That applies to PTO, too." Read the original article on Business Insider
CNBC
6 days ago
- Business
- CNBC
More Gen Zers are becoming bosses—and they're prioritizing flexibility and well-being
At 25 years old, Rai says he's often the youngest person in the room at work. It can be a tough spot to be in as a manager with eight reports. The young professional, who goes by Rai Tryna on social media, is among the growing share of Gen Zers taking on the role of "boss" — and many of these young managers are changing how business gets done. Gen Zers, the oldest of whom turn 28 this year, now make up 1 in 10 bosses, and they'll outnumber the share of Baby Boomer managers by next year, according to new research from Glassdoor. The trend shows up on both ends of the income spectrum, like food service (where there tend to be younger workers in general) and in tech (where advancement is usually faster), says Daniel Zhao, lead economist at Glassdoor. Twenty-something bosses are gaining ground at the same time many from the age group have become the faces behind trends like "conscious un-bossing," or the idea that young people don't want to take on the responsibility of managing their own team. The data doesn't support that claim, Zhao tells CNBC Make It — Gen Zers are actually taking management roles at similar rates as their generational predecessors. "When you look at the workforce overall, we do still see that Gen Z is interested in management," Zhao says. "They do still view the corporate ladder as a way to earn more money and rise the ranks." Rather, the conscious un-bossing trend taps into "a real frustration that some workers have, where they feel like they haven't been getting the recognition or compensation that comes with additional responsibilities," Zhao says. For his part, Rai, a partnerships manager at a tech company, says he wanted to become a manager after having had both good and bad bosses, and seeing how an excellent one can promote a positive work dynamic and help people thrive in their careers. Rai declined to share his last name for professional reasons. It's not always smooth sailing for the young leader who says he's learned to manage expectations with reports who are sometimes older than him. He can also see why young people might avoid a management role if it's not fairly compensated. "Dealing with eight direct reports is dealing with eight different lives and personalities and goals and ambitions — and you have to manage that while still doing the core job function," says Rai, who posts some of his career lessons on TikTok. Then, there's also having to "be the bad guy" when delivering disappointing news, like if someone is being passed over for a raise. "So I understand why people don't want to do it." That said, "I think if you enjoy people and you're getting fairly compensated," taking on leadership at work can be fulfilling, he says. Being a young leader means Rai can also set an example of the level of flexibility he wants to receive as an employee. He says he rarely denies a PTO request and doesn't mind wherever his reports work from, as a fully remote team. "If you're not taking any client-facing calls and you're getting your work done and you're at the beach, by all means, go get a tan," he says. The flexibility comes with open communication and trust that the work will get done, he adds. Many workers think the youngest crop of employees will bring a bigger emphasis on flexibility and well-being to the workplace, especially as they gain leadership experience, according to Glassdoor surveys. "What constitutes good leadership is changing at the same time that Gen Z is entering management ranks," Zhao says. "So this is not necessarily saying that Gen Z is inherently different in how they approach leadership, but it's just saying that the expectations on them [are] different than previous generations of managers." Between leading through global crises like the pandemic to integrating artificial intelligence in the workplace, many business experts have highlighted skills like emotional intelligence and empathy as crucial leadership skills for the future of work. "That also says something about how to train the next generation of managers," Zhao says. "The way that we've trained managers in the past might not be as relevant to what workers want moving forward, and that is going to be a challenge that employers and Gen Z managers alike will have to, well, manage."
Hans India
7 days ago
- Automotive
- Hans India
Vzm police get 16 new motorcycles
Vizianagaram: In a move to strengthen traffic regulation and enhance road safety, 16 new motorcycles have been allocated to Vizianagaram district by the Police Transport Organisation (PTO) of AP. Superintendent of Police (SP) Vakul Jindal inspected the bikes at district police office premises. Speaking on the occasion, SP Vakul Jindal said that the allocation includes 15 TVS Apache motorcycles and one Royal Enfield, all equipped with advanced features such as sirens, blinkers, public addressing systems and crowd control equipment. These modern motorcycles are designed to ensure effective enforcement of traffic rules and rapid response to road-related incidents. He added that these vehicles will be deployed at police stations located in areas prone to traffic congestion and frequent road accidents. The motorcycles will help police personnel reach incident locations promptly, especially in interior and remote areas where four-wheelers may not be accessible. In addition to quick response, these motorcycles will also be used to conduct awareness campaigns on traffic rules and road safety among the public, particularly at major junctions and traffic hubs, the SP noted. SB CIs A V Leelarao and RVRK Chowdary, RSI (MTO) R Ramesh Kumar and RSI (Admin) N Gopala Naidu have attended theprogramme.
