Petco recently announced that CEO Ron Coughlin will be stepping down from his position. In his place, board member and Best Buy executive R. Michael Mohan will be taking over as interim CEO while the company searches for a permanent replacement. Coughlin will continue to support the leadership transition as an advisor to the board.
Business
In a time when the global toy industry experienced a 7% decline in sales, the Denmark-based Lego company managed to grow its sales by 2% in 2023. This is a remarkable feat considering the challenging economic conditions that prevailed during the year. The pandemic-era gains that propelled exponential growth in the toy industry seemed to
Jessica Berman, the commissioner of the National Women’s Soccer League, has made significant strides in revolutionizing women’s sports. Drawing from her experience as a labor and employment lawyer, Berman has navigated the league through turbulent times, implementing vital changes to ensure the safety and success of all involved. Upon assuming her role as commissioner, Berman
In the past few years, there has been a significant surge in the number of family offices worldwide, with the figure tripling since 2019. A recent report from Preqin revealed that there are now over 4,500 family offices globally. North America leads the pack with 1,682 family offices, hosting more than half of all family
Robinhood, the financial services company, recently announced a partnership with Klutch Sport Group, a firm owned by LeBron James’ agent, Rich Paul. This collaboration aims to broaden Robinhood’s reach into the sports, entertainment, and media industries. As part of the deal, Paul will join Robinhood’s board as a strategic advisor to identify new partnership opportunities
In a bold move, New York Community Bank announced a significant injection of over $1 billion in funds with the help of private equity players. This financial boost, led by ex-Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital with a staggering $450 million, has helped to alleviate concerns about the bank’s financial stability. Following a steep
The Consumer Financial Protection Bureau recently announced a new rule that would cap the typical late fee charged by banks at $8 per incident. This change is expected to benefit over 45 million card users who would save an average of $220 annually, according to the CFPB. The rule comes after a long review of
New York Community Bank recently faced a significant setback as Moody’s Investors Service cut the deposit rating of its main banking subsidiary by four notches. This downgrade, which put the rating at Ba3, three levels below investment grade, marked the second time in just a month that Moody’s had taken such a drastic action. The
When Paul Scanlan and Jeff Annison founded Legion M, their vision went beyond just creating a production studio – they sought to establish a thriving community. Legion M has been at the forefront of a new crowdfunding model in Hollywood, allowing fans to not only contribute to film and television projects but also share in
In the wake of the Covid-19 pandemic, the aviation industry faced unprecedented challenges as air travel demand plummeted. However, amidst the chaos, two upstart airlines, Avelo and Breeze Airways, emerged as beacons of success in the competitive market. By strategically focusing on underserved routes and offering low-cost alternatives, these airlines have not only weathered the