Corporate/Finance: Page 4

  • Advance Auto Parts distribution center in Kutztown, Pennsylvania
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    Permission granted by Advance Auto Parts
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    Snowflake-linked attack on Advance Auto Parts exposes 2.3 million people

    One of the few customers to publicly link Snowflake to a third-party intrusion said its database was breached for 40 days.

    By Matt Kapko • July 16, 2024
  • Silver Chevy Volt electric vehicles and Opel Amperas come off an assembly line.
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    Bill Pugliano via Getty Images
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    GM shareholders deny 3 ethical supply chain proposals

    Responding to the proposals, the automaker defended its existing practices for supplier agreements and operational policies.

    By Kelly Stroh • July 15, 2024
  • A newly built Polestar 3 SUV painted white at Geely's production facility in China.
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    Courtesy of Polestar
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    EV maker Polestar risks Nasdaq delisting

    The company has until Jan. 2 to regain compliance by maintaining the stock market's $1 minimum bid price requirement for at least 10 days.

    By • July 15, 2024
  • A Rivian R1S vehicle driving in an urban setting
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    Courtesy of Rivian
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    Rivian chief accounting officer to step down

    Jeffrey Baker will resign later this month to pursue another opportunity, the electric vehicle maker disclosed in a securities filing.

    By • July 11, 2024
  • Mamatha Chamarthi delivers a closing keynote at a media event in Nov. 2018.
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    Courtesy of ZF Group
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    Stellantis’ chief software business officer departs

    The move is the latest in a number of high-profile executive exits from the automaker this year.

    By • July 9, 2024
  • Car dealership.
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    Mario Tama/Staff/Getty Images News via Getty Images
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    Sonic Automotive’s sales dip as CDK cyberattack causes material impact

    The company reported ongoing service disruptions and said vehicle sales declined after an attack on a third-party vendor.

    By Matt Kapko • July 8, 2024
  • The GM logo
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    Justin Sullivan via Getty Images
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    GM subsidiary withdraws ILC charter application

    If the application had been approved, it would have marked a return to the industrial loan company format for the automaker.

    By Rajashree Chakravarty • July 8, 2024
  • New cars parked at a dealership.
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    Bilanol/iStock/Getty Images Plus via Getty Images
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    CDK eyes service restoration for all car dealers by Fourth of July

     A systemwide outage following a cyberattack has impacted more than 15,000 car dealers since June 19.

    By Matt Kapko • July 2, 2024
  • The exterior of BMW of North America's headquarters in Woodcliff Lake, NJ.
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    Courtesy of BMW of North America
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    BMW of North America names new CFO

    Andreas Kindler is replacing Raymond Wittmann, who is relocating to Munich to lead the automaker’s corporate strategy division.

    By • July 2, 2024
  • Pictured is John Cappella wearing a dark colored suit with a Porsche vehicle in the background. He was named Executive Vice President and Chief Operating Officer of Porsche North America.
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    Courtesy of Porsche AG
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    Porsche Cars North America names new COO

    John Capella is joining from Porsche Cars Canada, and replacing longtime executive Joe Lawrence.

    By • July 1, 2024
  • Marc Whitten smiles in a media photo taken outdoors with trees in the background.
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    Courtesy of Cruise LLC
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    GM names Marc Whitten CEO of Cruise

    The new chief will take over the robotaxi company as it prepares to restart operations after a months-long suspension and series of executive shake-ups.

    By • June 27, 2024
  • Tesla co-founder Elon Musk speaks at the Milken Institute's Global Conference May 6, 2024 in Beverly Hills, Calif.
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    Apu Gomes via Getty Images
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    Tesla heads back to court still hoping to pay CEO Elon Musk billions

    The EV maker is hoping that a second shareholder approval of Musk’s record compensation package will influence a Delaware court.

    By Justin Bachman • June 27, 2024
  • Stellantis signage with Ram trucks in the background
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    Scott Olson via Getty Images
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    Stellantis looks to new leaders for North American comeback

    Jeep, Dodge and Ram have new leaders after a series of high-profile departures from the automaker.

    By • June 25, 2024
  • Three 2022 Rivian R1T electric pickups driving.
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    Courtesy of Rivian Automotive
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    Volkswagen invests $1B in Rivian with plans for a joint venture

    The new, equally-controlled business will focus on developing a next-generation electrical/electronic architecture for EVs.

    By • June 25, 2024
  • The charging port on a red Kia EV6 GT.
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    Courtesy of Kia America, Inc.
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    Ionna EV charging venture picks global HQ, executive team

    Seven major automakers, including Honda and BMW, established the joint initiative in 2023 with plans to install 30,000 chargers in North America by 2030.

    By • June 21, 2024
  • A row of Ford F-150 Lighting pickups parked inside the automaker's Rouge Electric Vehicle Center in Michigan.
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    Courtesy of Ford Motor Co.
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    Ford ends Model e EV program for dealers

    The automaker faced pushback over the program’s significant upfront investment costs.

    By • June 20, 2024
  • Four 2023 Fisker Ocean models parked.
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    Courtesy of Fisker Inc.
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    Fisker files for Chapter 11 bankruptcy

    The EV startup says it’s in advanced discussions with financial stakeholders regarding the sale of its assets.

    By • June 18, 2024
  • Elon Musk speaks at a conference
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    Apu Gomes via Getty Images
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    Tesla shareholders back Elon Musk $56B pay package

    “Hot damn, I love you guys,” the CEO said on stage during the company’s annual meeting in Austin, Texas.

    By • June 14, 2024
  • Cars are prepared for distribution at a Ford factory
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    Carl Court via Getty Images
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    Tracker

    Tracking US auto sales by month

    Volvo, Hyundai and Kia saw sales dip in September, while they grew for Honda, Subaru and Mazda.

    Updated Oct. 14, 2024
  • The lineup of Tesla vehicles parked at a Supercharger with tress in the background in a media photo.
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    Courtesy of Tesla Inc.
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    EV adoption falls to its lowest point since 2021: JD Power

    Meanwhile, electric vehicles are more available than they’ve ever been.

    By Kalena Thomhave • June 13, 2024
  • A headshot of a person wearing a gray suit and black glasses smiling.
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    Courtesy of American Honda Motor.

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    Former Honda SVP named CEO of Piston Group

    Mamadou Diallo will help manage the company’s overall performance, including financial management, planning and reporting.

    By • June 12, 2024
  • The new Chevrolet Blazer EV, Chevrolet Equinox EV and Chevrolet Silverado EV RST placed together for a media photo.
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    Courtesy of General Motors
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    GM board approves $6B stock buyback

    It’s the automaker’s second major buyback following a $10 billion accelerated share repurchase announced in November.

    By • June 12, 2024
  • Multi-ethnic group of construction workers working in an office space.
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    ProfessionalStudioImages via Getty Images
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    Fixing engagement? Consider employee workload, report says

    Achieving optimal workload, however, isn’t just about eliminating work, said a McLean & Co. leader.

    By Carolyn Crist • June 6, 2024
  • The 17-inch infotainment screen of the 20204 Chevy Silverado EV showing icons on the home screen.
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    Courtesy of General Motors
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    GM promotes 2 former Apple execs to lead its software organization

    The executive appointments come as the automaker aims to make software a core component of its vehicle and customer experience.

    By • June 5, 2024
  • A gray four-door crossover vehicle with a woman seated with her hand on the steering wheel is parked in front of a Hertz building.
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    Courtesy of Hertz/GM
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    Hertz poaches Spirit Airlines CFO

    Less than a year after taking the permanent CFO seat, Alexandra Brooks is exiting the rental car company as it struggles to manage its bold EV bet.

    By Maura Webber Sadovi • June 5, 2024