Aug. 20, 2010 at 10:15 a.m.
Filed under:
Chicago executives,
Consulting,
Personnel moves
By Tribune staff report
Deloitte & Touche Chairman and CEO Stephen Van Arsdell. (AP)
Stephen C. Van Arsdell, of Naperville, has been named chairman and chief executive officer of Deloitte & Touche LLP, the accounting, auditing, capital markets and risk advisory subsidiary of Deloitte LLP.
Van Arsdell, 60, will be based in Deloitte’s New York office. He most recently served as deputy chief executive officer of Deloitte & Touche with responsibility for the professional practice network, and succeeds Nick Tommasino, who has served as chairman and CEO of Deloitte & Touche since 2006. Get the full story »
Aug. 20, 2010 at 6:16 a.m.
Filed under:
Agriculture/Farming,
M&A
By Reuters
Potash Corp. moved Thursday to find a buyer willing to top BHP Billiton’s $39 billion hostile offer for the world’s largest fertilizer company as shareholders balked at a bid they consider too light to support.
If a deal goes through, it would mean an extraordinary payday for Potash Chief Executive Bill Doyle, who lives in Winnetka and runs the company out of offices in Northbrook. Get the full story »
Aug. 18, 2010 at 1:20 p.m.
Filed under:
Food,
Restaurants
By Emily Bryson York
A Pei Wei restaurant in Orlando, Fla.
Pei Wei Asian Diner, a fast-casual take on P.F. Chang’s China Bistro, is opening in Chicago next week.
The pan-Asian concept, which calls itself “East of usual,” will open in Logan Square with two more area restaurants in the works in Mt. Prospect and in Willowbrook. But don’t expect the P.F. Chang’s horses at the front door. Get the full story »
Aug. 17, 2010 at 11:18 a.m.
Filed under:
Chicago executives
By Associated Press
United Stationers Inc., a distributor of office and business products, said Monday that it has promoted a division president to corporate president and chief operating officer. The promotion of P. Cody Phipps, 48, is effective Sept. 1. He will report to Richard W. Gochnauer, who remains CEO.
Aug. 13, 2010 at 7:49 a.m.
Filed under:
Exchanges,
Insurance
By Mary Ellen Podmolik
Unitrin Inc. said Friday that Chief Financial Officer Eric Draut would exit the company and resign from its board of directors to pursue other opportunities.
Draut’s resignation takes effect Sept. 3. The Chicago-based insurance holding company said Richard Roeske, a company vice president and chief accounting officer, will serve as CFO on an interim basis until the company taps a permanent replacement. Get the full story »
Aug. 10, 2010 at 6:13 a.m.
Filed under:
Airlines,
Airports
By Dow Jones Newswires
After failing for more than two years to secure airport gates in Chicago, Virgin America will begin flights to and from Dallas, its first mid-continent destination and a rare foray by a low-cost carrier into the “fortress hubs” dominated by network airlines.
Virgin America has also been trying to start services from Chicago O’Hare — a hub dominated by American and United–for more than two years, but David Cush, Virgin America’s chief executive, said he was less optimistic than ever that it could reach a deal with the city. Get the full story »
Aug. 9, 2010 at 11:15 a.m.
Filed under:
Updated
By Emily Bryson York
Sara Lee CEO Brenda Barnes speaks at an event in 2007. (Tribune file photo)
Sara Lee CEO Brenda Barnes has decided to permanently step down from the company “to focus on improving her health.” Barnes, 56, took a leave of absence in May after suffering a stroke.
Sara Lee’s board has initiated a search for her replacement, looking at both internal and external candidates. For now, Marcel Smits will remain interim chief executive officer, Mark Garvey will continue as interim chief financial officer, and James S. Crown will remain chairman of the board.
“We fully support Brenda’s decision to step down as Chairman and CEO so she can devote all of her time and energy toward improving her health,” Crown said in a company statement. “She is a remarkable leader who is admired by those inside and outside of the Sara Lee family, and we fully understand and respect her decision.” Get the full story »
Aug. 6, 2010 at 3:40 p.m.
Filed under:
Chicago executives,
Technology
By Associated Press
Hewlett-Packard Co. said CEO Mark Hurd is stepping down following a sexual-harassment probe that found other violations of company standards. HP said Friday that Hurd decided to leave after the investigation into a sexual-harassment claim made against him and the company by a former HP contractor. The probe concludes that the company’s sexual-harassment policy was not violated, but that its standards of business conduct were.
Aug. 5, 2010 at 8:27 a.m.
Filed under:
Cell phones,
Earnings,
Telecommunications,
Wireless
By Dow Jones Newswires
Second-quarter earnings at Telephone & Data Systems Inc. and its U.S. Cellular Corp. business declined, while U.S. Cellular lost fewer overall subscribers than it did a year earlier.
Earnings for both companies missed analysts’ expectations, and U.S. Cellular also lowered its guidance for full-year service revenue to $3.93 billion to $4 billion from $3.98 billion to $4.08 billion. Get the full story »
Aug. 2, 2010 at 1:40 p.m.
Filed under:
Chicago executives,
Transportation
By Julie Wernau
The president of Chicago South Shore and South Bend Railroad will retire in October after five years on the job, the company announced Thursday. Henry Lampe, president and CEO will be replaced by Andrew Fox, managing director of Pacific Harbor Line and a former president at that company. Get the full story »
By Wailin Wong
Motorola Inc. saw its second-quarter profit jump significantly from last year, with executives sounding increasingly confident about the mobile device devision’s ongoing transformation into a profitable smartphone maker.
The Schaumburg-based company posted net profit of $162 million, or 7 cents per share, for the second quarter, compared with a year-earlier profit of $26 million, or 1 cent per share. The profits were driven mostly by Motorola’s enterprise mobility and networks units, although its mobile phone business showed signs of progress. Get the full story »
July 23, 2010 at 10:34 a.m.
Filed under:
Banking,
Chicago executives,
Corporate governance
By Reuters
Kenneth Feinberg on July 22 in Washington. (Alex Wong/Getty Images)
Pay czar Kenneth Feinberg said on Friday that 17 banks overpaid executives in late 2008 and early 2009 by about $1.6 billion during the financial crisis, when taxpayers’ money was being used to support them.
He proposed that financial firms adopt policies that would let them “restructure, reduce or cancel” bonus and other special payments to executives in future crises but said he had no authority to force banks to give back past overpayments. Get the full story »
July 22, 2010 at 7:56 a.m.
Filed under:
Chicago executives
By Dow Jones Newswires
OfficeMax Inc. said its chief operating officer has left to become the chief executive of another public company, the latest executive to leave–or plan to leave–its ranks. The office-supplies retailer said Sam Martin, who was also an executive vice president, stepped down from his role effective Wednesday. Get the full story »
July 14, 2010 at 1:32 p.m.
Filed under:
Chicago executives,
Economy
By Reuters
The Obama administration is making businesses feel “unloved” and reluctant to put money to work, hampering the U.S. economic recovery, the chief executive of U.S. conglomerate Loews Corp., which owns CNA Financial among other companies, said Wednesday.
Companies are hunkering down amid uncertainty about the future cost of doing business and are further unnerved by the Obama administration’s response to the BP Plc oil spill, CEO James Tisch told Reuters in an interview. Get the full story »
July 7, 2010 at 6:57 a.m.
Filed under:
Government,
Investing
From Bloomberg News | Allstate Corp. Chief Executive Officer Thomas Wilson said he believes “government borrowing is way out of control” and prompt declines in the value of municipal bonds, a major component of Allstate’s holdings. In the last three quarters, Allstate has cut its municipal holdings, which now total about $20.1 billion.
