Microsoft Corp. co-founder Bill Gates is still America's richest man, taking the top spot in the Forbes 400 list for the 20th-straight year with a net worth of $72 billion.Investor Warren Buffett, the head of Berkshire Hathaway Inc., remains in second place with $58.5 billion.
Ford Motor Co.'s marketing and sales chief in the U.S. is retiring as of Nov. 1. Ken Czubay, 64, will be replaced by John Felice, who will be vice president of U.S. marketing, sales and service. The company also named Barb Samardzich as chief operating officer at Ford of Europe.
In an interview last month, chief operating officer Carlos Tavares told Bloomberg that he doubted he'd ever become head of Renault because Ghosn is still relatively young. He said he would like to be chief executive somewhere, and he thought his best chance was at a U.S. automaker.
The chief executive of Ford Motor Co. says he has no plans to leave the company early after reports that he might be tipped to take a leading role at software maker Microsoft Corp. Ford said last year that Alan Mulally would stay with the company through at least 2014.
United Technologies Corp. has announced that David Hess is retiring as president of its Pratt & Whitney subsidiary, to be succeeded by Chief Operating Officer Paul Adams.The 58-year-old Hess is retiring Jan. 1 after 34 years with UTC.
In a statement Tuesday, Renault said it would instead add two new posts: chief competitive officer, who would be in charge of the product range, and chief performance officer, who would focus on market share and profitability. Employee representatives will review the plan next week.
The mayor of a rust belt small town is literally getting her hands dirty in hopes of revitalizing Gary, Ind. Once a major steel center, the city's population has dropped by half, and some of its neighborhoods are riddle with crime. Karen Freeman-Wilson, the city's current mayor, has a positive outlook on the future of her city.
Microsoft CEO Steve Ballmer, who took over the helm of the world's largest software company from founder Bill Gates, will retire within the next year. Microsoft Corp. did not name a successor, but said the company is forming a search committee, which will include Gates. Ballmer will stay on until a replacement is found.
Caterpillar Inc., which makes construction and mining equipment, said Tuesday that three of its long-time vice presidents have decided to retire in February.Steve Fisher, 58, and vice president of the large power systems and growth markets division, is retiring after 35 years with the company.
Denmark's troubled wind turbine producer Vestas has appointed Anders Runevad as its new CEO as the company looks to deal with mounting losses.Runevad, who comes from the Swedish telecommunication company Ericsson, will take over on Sept. 1.
Defense contractor BAE Systems PLC said Tuesday that the CEO and president of its U.S. subsidiary will retire next year. Linda Hudson, who has led the U.S. unit since 2009, will remain at her post through the first quarter of 2014.
Steve Kiefer, who heads Delphi Corp.'s Powertrain Systems, will join the auto giant on Sept. 1. In addition to leading GM's powertrain business, he also will oversee engine development. Jim Lanzon will remain as vice president of global transmissions.
The founder of America's leading supplier of body armor to the U.S. military was sentenced Thursday to 17 years in prison for running a $185 million stock swindle in which he used the proceeds to finance luxuries such as lavish parties featuring Tom Petty, Aerosmith and the Eagles.
Heins would receive $48 million in equity awards, based on the company's share price at the end of its latest fiscal year, according to a regulatory filing earlier this year. He would also get $7.5 million in compensation for his salary and bonus under the change of control provisions in his contract.
Communications equipment maker Motorola Solutions Inc. said Wednesday that Chief Financial Officer Ed Fitzpatrick is leaving the company. Motorola said Gino Bonanotte, 48, will be its acting CFO while the company looks for a permanent replacement. He was in charge of financial operations for Motorola's sales and product-operations organizations.
The aviation and military electronics maker announced last month that Ortberg, who will hold is previous position as company president, would succeed Clay Jones. The 64-year-old Jones has spent nearly 34 years at Rockwell Collins. He will continue as non-executive chairman.
The National Alliance for Jobs and Innovation (NAJI) is pleased to announce that former Washington State Attorney General Rob McKenna has joined NAJI's Board of Directors and will serve as NAJI President. NAJI is a non-partisan organization of over 200 members whose mission is to help stop unfair competition resulting from stolen intellectual property (IP) — whether through piracy, counterfeiting, or trade secret theft.
A prominent hacker who discovered a way to have automatic teller machines spit out cash and was set to deliver a talk about hacking pacemakers and other wireless implantable medical devices has died in San Francisco, authorities and his employer said.
Mark Hogan, a former General Motors Co. executive tapped to join the Toyota board, sees his appointment as a sign of change at the Japanese automaker and hopes he'll play a role in the company becoming less insular and quicker in decision making.
CEO Meg Whitman has portrayed HP's turnaround as a multi-year effort. She has been overhauling the company's product line and pushing into more profitable niches in business software, data analysis and storage and technology consulting. HP also is in the process of eliminating nearly 30,000 jobs and shedding other expenses.
Microsoft says it is reshuffling its business to promote faster innovation and a sharper focus on devices and services. The move by the world's largest software maker comes amid a steady decline in demand for PCs as people turn to tablets and other mobile devices.
While, yes, states are individual entities, and state politicians are beholden to what they can bring to their state economy and usually not much else, but there’s something to be appreciated in business that isn’t cutthroat and isn’t based solely upon politics.
As vice president of product development, the 45-year-old Lederhaas-Okun had authority to "check out" jewelry from Tiffany to provide to potential manufacturers so they could calculate production costs. Authorities allege that after she left Tiffany in February, the company discovered she had checked out 164 items that were never returned.
As with most other news of labor relations coming out of China, many are using the recent boss kiddnapping event as another example of why manufacturers need to be moving back to the U.S. as soon as possible. I wouldn’t be so quick to judgment.
The governor was at the Tuscaloosa County plant last week for a sendoff of its president and chief executive, Markus Schaefer, who is taking an executive role at the automaker's headquarters in Stuttgart, Germany. Bentley said after the event that the plant is a close-knit organization that works well together as a team.
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