Banking and Finance

Daraz Group, the South Asian online retail entity under Alibaba Group Holding Ltd., has undergone a change in leadership. Taking the helm as the new Chief Executive Officer is James Dong, aged 44, who currently leads Alibaba's Southeast Asian arm, Lazada Group SA. Dong assumes the role of acting CEO...

On Tuesday, Commerzbank's CEO, Manfred Knopf, played down the possibility of a merger with Deutsche Bank, asserting that no such discussions were underway and emphasizing his commitment to maintaining the bank's independence. These remarks come in the midst of increasing speculation about the potential resumption of merger talks between Germany's...

According to a press release, Michael Burke and Sidney Toledano, two close associates of the CEO of LVMH, will be switching roles while the group is scheduled to present its annual results for 2023 on January 25. Michael Burke, 66, who has been advising Bernard Arnault since 2023 following a...

Sharb Farjami is set to lead the North American operations of GroupM, a prominent player in media investments affiliated with WPP. Farjami takes over from Adam Gerhart, who served as the interim CEO of GroupM North America. Gerhart will continue in his role at GroupM agency Mindshare as the CEO...

Jack Henry & Associates Inc.® (Nasdaq: JKHY), a financial technology company, announced that Greg Adelson, currently serving as President and Chief Operating Officer, is set to become CEO and President effective July 1, 2024. David Foss, the current Board Chair and CEO, will retire on June 30, 2024, transitioning to...

Ward Transport and Logistics has appointed a new President and Chief Executive Officer, with Bill Ward Jr. taking the helm from his father, Bill T. Ward, who retired the previous year. This transition marks the fourth generation of the Ward family to lead the company, which was established in 1931....

BP has selected Murray Auchincloss, an internal candidate, as its new Chief Executive Officer, according to an announcement by the UK oil and gas giant. Auchincloss, who previously served as BP's Chief Financial Officer, assumed the role provisionally in September 2023 following the unexpected departure of Bernard Looney. It's noteworthy...

Catalina Holdings (Bermuda) Ltd. has named Philipp Waldstein as its incoming Chief Executive Officer, succeeding Ian Parker, who is set to retire. Waldstein, who has been the Group Chief Investment Officer since joining Catalina in 2020, played a pivotal role in the company's strategic shift towards annuity reinsurance through a...

On Friday, the board of Archer Daniels Midland (ADM) agreed to place CFO and Senior Vice President Vikram Luthar on administrative leave immediately. This action follows an ongoing investigation by external counsel and the board's audit committee into certain accounting practices and procedures related to the company's nutrition reporting group...

A tragic incident occurred last week at a packed company event in India, resulting in the death of Sanjay Shah, the CEO of Vistex. The 56-year-old tech executive fell onto a stage during the silver jubilee celebration of the software company. The event, attended by approximately 700 people, also involved...