Staples announced today that its chairman and chief executive officer, Ron Sargent, is giving the public his two-week notice: he’ll be stepping down on June 14, after the company’s next shareholders meeting. Sargent has been CEO of the office superchain since 2002, and has worked for Staples since 1989, when the company was only three years old. [More]
United Airlines CEO Oscar Munoz returns to work on Monday only two months after a heart transplant. Was the airline exec’s speedy recovery spurred by a desire to get back to business, or did Munoz return earlier than planned because it was the only way to earn his full bonus?
Last week, we warned readers that the so-called “CEO email scam” was back (did it ever really go away?) with a tax season twist: asking employees to hand over files of employee information, such as a W-2 form. The folks at Snapchat apparently didn’t get the memo, as the photo sharing company announced that it was the victim of a phishing scam that led to ne’er-do-wells getting their hands on the personal information of some employees. [More]
Sometimes taking your concerns with a company to the top level really does get the job done. Case in point: a Maryland man shared his disappointment that a local Macy’s didn’t equip the men’s bathroom with changing tables to the retailer’s CEO. One week later, the store’s bathrooms were renovated.
Things continue to unravel for Martin Shkreli, best known as the guy whose company bought the rights to a previously affordable, life-saving generic drug, then increased its price by 5,400% overnight. After being arrested last week in an unrelated securities-fraud investigation, the “pharma bro” has lost his spanking-new job as CEO of KaloBios Pharmaceuticals. [More]
For the second time in just over two months, the United Airlines board of directors has announced a new leader as its recently appointed CEO, Oscar Munoz recovers from a heart attack. [More]
When talking about the airline you run, it probably isn’t the best idea to start out by recounting how said carrier misplaced your bags on your latest flight. Unless, maybe, you’re trying to seem relatable and let consumers know that accidents happen. But even then, it can’t be anything less than embarrassing. [More]
For years now, we’ve referred to Taco Bell CEO Greg Creed as “curiously Australian,” since it’s unexpected and exotic for a Tex-Mex fast-food joint to be run by someone from the other side of the planet. Now another fast-food company has a chief executive from elsewhere in the Anglophone world: the incoming CEO of McDonald’s, Steve Easterbrook, is British. [More]
Todd was having problems with his Samsung Galaxy phone, so he traded it in for a refurbished warranty replacement. The replacement phone turned out to be defective, too. Rather than enter the perpetual cycles of smartphone replacement purgatory, he knew there had to be another way. He looked for one, and found it in a recent post about a reader who deduced the e-mail address of Samsung’s CEO and used that information to get the company to actually honor its warranty. [More]
In March, a group of two dozen lawmakers prodded the Securities & Exchange Commission to finally get around to enforcing Section 953(b) of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires publicly traded companies to disclose the ration between CEO pay and the median pay for the rest of their employees. Now that the SEC is prepping to release those rules, these companies are suddenly claiming a lack of basic math skills. [More]
The NYT DealBook Blog says that AIG’s $1 interim CEO is living pretty well, despite the whole “being hated for something you didn’t do” thing.
Paul now has 30 free pairs of sneakers from J.Crew for calling them out on some bullshit.
Regarding the $35,000 “commode on legs” ex-Merrill-Lynch CEO John Thain bought for his office, commenter VikramJaffe informs me that it is not as I theorized, a claw-footed toilet, but rather a chest of drawers on legs introduced by the French in the early 18th century. Too bad no one informed me of the distinction before I took a crap in it.
Merrill Lynch CEO John Thain spent over $1.22 million to renovate his office in early 2008, just as his firm was getting ready to slash thousands of jobs, cut back on spending and dump businesses. Here’s this douchebag’s big-ticket tally of personal aggrandizement in the midst of financial crisis: