Banking and Finance

Prodapt, a leading provider of consulting, engineering, and transformation services in the telecom and technology sectors, recently announced a significant leadership change. The company has appointed Manish Vyas as its new Managing Director (MD) and Chief Executive Officer (CEO). Vyas succeeds Harsha Kumar, who will transition to an advisory role...

Helios Technologies has concluded an investigation and determined that Josef Matosevic breached company policy and exhibited behavior contrary to the company’s values and Code of Business Conduct and Ethics. This included a consensual personal relationship with an employee. The investigation found no financial misconduct or issues with the company’s financial...

Bernard Arnault, CEO of LVMH, has confirmed owning a small personal stake in Richemont, the Swiss luxury goods company known for brands like Cartier and Alaïa. He clarified that this investment is separate from LVMH's corporate strategy. This announcement comes as LVMH faces challenging financial results, with a 1 percent...

Iceotope, a global leader in Precision Liquid Cooling, has announced that CEO David Craig will retire effective September 30, 2024. Chief Commercial Officer Nathan Blom and Chief Financial Officer Simon Jesenko will jointly lead the company until a new CEO is appointed. David Craig will continue to advise and support...

Ahmad Fazril Mohd Fauzi has officially resigned from his role as Chief Financial Officer of Boustead Heavy Industries Corporation Bhd (BHIC). The announcement was made through a Bursa Malaysia Securities filing, where it was revealed that the 41-year-old is leaving to pursue other opportunities. However, details regarding his future endeavors...

Mark Fitzgibbon, who has been at the helm of NIB Holdings since 2002, will step down from his role as CEO on 1 September. Ed Close, currently heading the health insurer's ARHI division, is set to succeed him. Following the announcement of Fitzgibbon's retirement and Close's upcoming leadership, NIB Holdings...

Petroleos Mexicanos (Pemex) reported its most significant loss since the onset of the global pandemic over four years ago. The state oil company recorded a second-quarter loss of $13.8 billion, a stark contrast to the $1.4 billion profit reported a year earlier. This represents the steepest loss since the first...

Lineage, the world’s leading operator of cold storage warehouses, has executed the largest initial public offering (IPO) in the U.S. this year. The company announced the sale of 56.9 million shares at $78 each, which is near the high end of its anticipated range of $70 to $82.1. This sale...

Adore Beauty has announced the appointment of Sacha Laing, an experienced retail executive, as its new Chief Executive Officer. Laing, who previously served as CEO of Alquemie Group, will begin his new role on October 1. Laing brings over 25 years of experience in the retail industry. His most recent...

For decades, South Korea has imposed an inheritance tax of up to 60% on the controlling shareholders of major companies like Samsung Electronics, compelling billionaire families to engage in complex financial maneuvers to meet their tax obligations. Now, these affluent families may soon see significant relief. President Yoon Suk-yeol plans...