The news traveled quickly across Nike’s sprawling headquarters in Beaverton, Ore. Elliott Hill was coming back. Employees high-fived. An audible cheer could be heard in parts of Nike’s 400-acre campus. Current and former employees lit up group chats and social media. On Wall Street, investors joined the celebration, sending Nike shares up roughly 8% in
Defense giant L3Harris forced out chairman and chief executive Chris Kubasik, 65, over the weekend after a board investigation revealed that he had violated the company’s code of conduct. The $50 billion aerospace-and-tech company did not provide any detail about what Kubasik did to violate the code, but specified it did not involve financial reporting,
When Kellyn Smith Kenny joined AT&T as CMO in November 2020, she joined a company whose identity was about to change dramatically. AT&T had spent years expanding into entertainment, including its $85 billion acquisition of Time Warner, and owned satellite television provider DirecTV. By the time Kenny arrived, that strategy was giving way to a
Before Ray Dalio built Bridgewater Associates into one of the world’s largest hedge funds, he was advising clients on a more basic business problem: the cost of feeding chickens. That expertise, according to Dalio, helped McDonald’s to solve an early obstacle to introducing Chicken McNuggets, now one of its most popular products. Back in the
Only about 12% of family-owned businesses make it to a third generation still under family control, according to a new Goldman Sachs playbook aimed at the founders and dynasties the bank counts among its most prized clients. It’s a statistic Goldman itself put in print in “Honoring Legacy and Positioning for the Future,” a paper
Bill Ackman has spent roughly two decades and close to $1 billion on philanthropy. His verdict: Capitalism can often have a stronger societal impact. “I’ve spent a fair amount of time on philanthropy, and it’s vastly less efficient at solving problems than capitalism,” the Pershing Square Capital Management founder and CEO told Fortune editor-in-chief Alyson
