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Daily news and top headlines for manufacturing professionals

Tomko Named President Of Honda In Alabama

February 25, 2014 8:41 am | News | Comments

A new executive will lead Honda's operations in Alabama. Honda Manufacturing of Alabama says Jeff Tomko will take over as company president on April 1. Tomko is replacing Tom Shoupe, who becoming executive vice president and chief operations officer of Honda of America Manufacturing Inc.

Coca-Cola CFO To Retire As Cost-Cutting Ramps Up

February 20, 2014 3:28 pm | News | Comments

Longtime Coca-Cola Chief Financial Officer Gary Fayard will retire in May as the company ramps up its cost-cutting efforts. Succeeding Fayard is Kathy Waller, currently vice president, finance and controller.       

GM CEO Barra's Pay Package Worth $14.4M This Year

February 11, 2014 8:02 am | News | Comments

New General Motors CEO Mary Barra will get a pay package worth $14.4 million this year, 58 percent more than her male predecessor, the company said Monday. GM released the figure to counter reports that said Barra, the first woman to lead a major automaker, would be paid less than former Chairman and CEO Dan Akerson.

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2 Gov't Appointed GM Board Members To Leave In June

February 5, 2014 8:06 am | News | Comments

The company said in a regulatory filing that David Bonderman won't seek election at the company's annual meeting. Krebs plans to retire. Both were appointed to the board by the U.S. government in July of 2009, shortly after GM left bankruptcy protection.

Nadella To Head Microsoft; Gates Leaves Chair Role

February 4, 2014 10:39 am | by Ryan Nakashima, AP Business Writer | News | Comments

Microsoft has named the head of its cloud computing business as the company's next CEO, tapping a longtime insider to lead efforts to catch rivals in mobile devices and offer more software and services over the Internet. Satya Nadella replaces Steve Ballmer immediately to become only the third chief executive in Microsoft's 38-year history.

IBM's CEO, Other Top Execs Give Up 2013 Bonuses

February 3, 2014 8:06 am | News | Comments

IBM CEO Virginia Rometty and the rest of her senior management team are relinquishing their 2013 bonuses as penance for the technology company's lackluster performance last year. The decision will result in a substantial pay cut for the affected executives, whose annual bonuses often exceed their salaries.

Ex-Marlboro Man Dies From Smoking-Related Disease

January 27, 2014 11:15 am | by Daisy Nguyen, Associated Press | News | Comments

Eric Lawson, who portrayed the rugged Marlboro man in cigarette ads during the late 1970s, has died. He was 72. Lawson died Jan. 10 at his home in San Luis Obispo of respiratory failure due to chronic obstructive pulmonary disease, or COPD, his wife, Susan Lawson said Sunday.

Thai Police Suspect Tata Exec Killed Himself

January 27, 2014 8:26 am | News | Comments

Thai police say the deadly fall from a luxury hotel room of a British executive at India's automotive giant Tata Motors may have been a suicide. Managing Director Karl Slym died Sunday while in Bangkok to attend a board meeting of the company's Thai affiliate.

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Barra To Stay The Course At GM, But Accelerate

January 24, 2014 7:54 am | by Dee-Ann Durbin, AP Auto Writer | News | Comments

Among her priorities is making GM's brand messages clear and consistent worldwide. New vehicles like the Cadillac ATS sedan — which goes on sale in China this year — can help Cadillac become a global luxury brand. Chevrolet needs to show that it provides a lot of value to buyers.

Peltz Joins Mondelez Board, Backs Off PepsiCo Deal

January 21, 2014 10:18 am | by Candice Choi, AP Food Industry Writer | News | Comments

Activist investor Nelson Peltz is no longer pushing for a deal between PepsiCo and Mondelez, after Mondelez on Tuesday named him to its board. Mondelez, which makes Oreo and Chips Ahoy cookies, says the appointment expands its board to 12 members and that Peltz will be among its nominees for election at its shareholders meeting.

GM To Pay New CEO Barra $1.6M

January 20, 2014 8:23 am | by Joshua Freed, AP Business Writer | News | Comments

General Motors Co. says new CEO Mary Barra will get a base salary of $1.6 million per year as she takes over the global automaker. GM said in a filing on Friday that Barra will also be eligible for $2.8 million in short-term incentives. Her pay would climb further if GM shareholders approve a new long-term incentive plan at their next annual meeting.

Bernanke Likens '08 Financial Crisis To Car Crash

January 16, 2014 1:39 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

In his final public appearance as chairman of the Federal Reserve, Ben Bernanke took a moment to reflect on the 2008 financial crisis and compared it to a very bad car crash.During an interview at the Brookings Institute, he recalls some "very intense periods" during the crisis, similar to trying to keep a car from going over a bridge after a collision.

Obama To Nominate Calif. Businesswoman To Lead SBA

January 15, 2014 11:15 am | by Jim Kuhnhenn, Associated Press | News | Comments

Rounding out his Cabinet, President Barack Obama intends to nominate Maria Contreras-Sweet, the founder of a Latino-owned community bank in Los Angeles and a former California cabinet secretary, to be head of the Small Business Administration.   

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Mill That Started Buffett's Empire Razed

January 14, 2014 11:02 am | News | Comments

The Massachusetts textile mill that helped billionaire Warren Buffett launch his investment empire, but which he also called one of his biggest blunders, is being torn down. Roland Letendre, the current owner of the Berkshire Hathaway mill in New Bedford, started demolishing the structure on Monday after efforts to sell the property failed.

Fiat-Chrysler CEO To Stay At Least Through 2016

January 13, 2014 2:18 pm | by Tom Krisher, AP Auto Writer | News | Comments

Sergio Marchionne will lead a merged Chrysler and Fiat at least for three more years, Fiat's chairman said Monday. Speaking to reporters after the unveiling of a new midsize Chrysler car at the Detroit auto show, John Elkann told reporters that he has a deal with Marchionne to stay at least through 2016.

New GM CEO Hopes To Inspire Science Students

January 13, 2014 8:34 am | by Tom Krisher, AP Auto Writer | News | Comments

Responding to a question about being an inspiration to women, Barra said she hopes her engineering credentials make her a role model for young people. "With my technical background — I'm an electrical engineer — and I can motivate young women or young men to pursue a career in science," she said.

Mulally Puts Focus Back On Ford's Cars, Trucks

January 8, 2014 7:57 am | by Dee-Ann Durbin and Tom Krisher, AP Auto Writers | News | Comments

Mulally ended months of speculation that had already clouded the debut of the new Mustang last month and threatened to overshadow next week's widely expected unveiling of a new F-150, plus the launch of 23 new vehicles this year. Mulally wouldn't say whether he had talked to Microsoft about the CEO job, but said the speculation had been a distraction for Ford.

Thompson: Microsoft To Pick CEO Early Next Year

December 17, 2013 1:56 pm | News | Comments

Microsoft expects to finish its search for CEO Steve Ballmer's replacement by early next year. Board director John Thompson, who heads the company's executive search committee, said so in a blog post Tuesday. Ballmer said in August he would retire within 12 months.

Motorola CEO Talks About Global Vision

December 16, 2013 8:17 am | by Anick Jesdanun, AP Technology Writer | News | Comments

Google's $12.4 billion purchase of Motorola Mobility was widely seen as a way for Google to acquire patents to defend its Android operating system from intellectual property lawsuits. Yet Motorola hasn't given up on making phones. In August, it started selling the Moto X, the first smartphone assembled in the United States.

GM Names Mary Barra CEO, 1st Woman To Head Car Co.

December 10, 2013 10:11 am | by Tom Krisher, AP Auto Writer | News | Comments

General Motors product development chief Mary Barra has been named the company's new CEO, the first female head of a U.S. car company.Barra, 51, will replace Dan Akerson on Jan. 15. Barra currently holds what many say is the most important job in the company — senior vice president for global product development.

Wal-Mart Promotes Cheesewright To Int'l Chief

December 10, 2013 9:23 am | News | Comments

Wal-Mart Stores is promoting David Cheesewright to president and CEO of its international business. The 51-year-old Cheesewright succeeds Doug McMillon, who last month was named the next president and CEO of the world's biggest retailer. McMillon succeeds Mike Duke.

GM Says Head Of China Unit Will Retire

December 2, 2013 7:52 am | News | Comments

General Motor Corp. says Bob Socia, the president of GM China, will retire on Jan. 1. The company said Friday Matthew Tsien will replace Socia. Tsien, 53, is in charge of planning and program management for GM China and GM Consolidated International Operations and Strategic Alliances for China.

Peugeot Citroen Chief's $28.5M Pension Criticized

November 27, 2013 12:36 pm | News | Comments

Finance Minister Pierre Moscovici said Wednesday that the pension for Philippe Varin was "inappropriate," especially in light of recent layoffs, the company's financial troubles and falling sales during Varin's four years as chief executive.    

Ex-Renault Exec To Take Over Rival Peugeot Citroen

November 26, 2013 8:15 am | News | Comments

Struggling French carmaker PSA Peugeot Citroen says a former executive at rival Renault will lead the company when its current chairman steps down. The company said Monday that Carlos Tavares, who was Renault's chief operating officer, will join PSA's managing board in January. He will replace the current board chairman, Philippe Varin, at some point next year.

BlackBerry Shakeup Continues As COO, CFO Depart

November 26, 2013 7:39 am | by Rob Gillies, Associated Press | News | Comments

BlackBerry's interim chief executive has shaken up BlackBerry's management team in a move seen as prelude to him taking the top job himself. Chief Operating Officer Kristian Tear and Chief Marketing Officer Frank Boulben, both hired by recently ousted CEO Thorsten Heins, will leave the struggling smartphone maker.

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