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Tag: CEO

  • How leaders like Jamie Dimon and Microsoft president Brad Smith are trying to ease employee anxiety about AI | Fortune

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    Good morning. As artificial intelligence reshapes how people work, some business leaders are betting less on replacing employees—and more on helping them adapt to the technology.

    Jamie Dimon, CEO of JPMorgan Chase, the U.S.’s largest bank, has emerged as one of the most vocal executives urging caution about AI’s impact on jobs. Dimon expects to employ fewer workers in the next five years, but he warned that rushing into AI-driven layoffs without safeguards could backfire, potentially triggering “civil unrest,” he said recently while speaking at the World Economic Forum meeting in Davos, Switzerland, Fortune reported.

    Dimon said he would even welcome government bans on replacing large numbers of workers with AI if that were necessary to “save society.” He also insisted that companies must plan for the human consequences of automation. “I have a plan to retrain people, relocate people, income-assist people,” Dimon said of the 300,000-plus employees on his payroll.

    Regarding the AI boom set to take hold in enterprises, there is significant computing power needed to underpin it all. For more on that topic, I recommend a Fortune feature by my colleague Sharon Goldman, “At the edges of the AI data center boom, rural America is up against Silicon Valley billions.”

    Building a future where AI uplifts human talent

    Dimon is not alone in calling for AI strategies that put people at the center. Also in Davos, Microsoft President Brad Smith took on what he described as a defining question for leaders during a Harvard Business Review executive panel session: “Can technology be a platform that enables people to get better?” He framed the future of work as a race between humans and machines. “If we’re just going to say today, ‘the best we are today is the best we’re ever going to be,’ then computers will outpace us,” he said.

    Smith argued that the outcome changes if each advance in AI is used to upgrade human capability rather than replace it. If workers can use smarter machines to get better at their jobs, he suggested, then in many areas “machines will never catch up.” “You talk about leadership,” he added. “Are we not going to use, as employers and as leaders, technology as tools to help our employees get better themselves?”

    Those questions are becoming more urgent as AI moves from experimentation to everyday use. This year, AI is shifting from the pilot and testing phase to enterprise-wide scaling as worker access to AI tools expands, according to Deloitte’s State of AI in the Enterprise 2026 report. Surveyed companies have broadened worker access to AI by around 50% in just one year. While only about one-quarter of respondents said their organizations have moved 40% or more of their AI experiments into production so far, more than half expect to reach that level in the next three to six months.

    Yet the report also highlights a gap that connects directly to the concerns raised in Davos. Insufficient worker skills are cited as the biggest barrier to integrating AI into the business, even as fewer than half of companies are making significant changes to their talent strategies. For leaders like Dimon and Smith, the message is clear: the real test of AI leadership may be less about how quickly companies adopt new tools and more about how effectively they help their people keep up.

    Sheryl Estrada
    sheryl.estrada@fortune.com

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    Bénédicte de Bonnechose was appointed CFO of the Michelin Group, effective June 1. She will succeed Yves Chapot. A member of the Michelin Executive Committee since Jan. 1, 2021, Bonnechose currently supervises the Urban and Long-Distance Transportation Business lines, as well as the European region. She joined the Michelin Group in April 2019 as deputy group CFO. 

    Dan Karpel was appointed interim CFO of Caleres (NYSE: CAL), a portfolio of consumer-driven footwear brands, effective immediately. Karpel also serves as the company’s SVP and chief accounting officer. He succeeds Jack Calandra, who is leaving Caleres at the end of the month to pursue other opportunities. His departure is not related to any disagreement with the company. The company started an external search for a permanent successor.

    Big Deal

    Organizational AI adoption has not changed meaningfully from the previous quarter, according to a new Gallup report. In Q4 2025, 38% of U.S. employees said their organization has integrated AI technology to improve productivity, efficiency and quality, while 41% said their organization has not implemented AI tools and 21% said they don’t know. These results are similar to Q3 figures. 

    Gallup reports that employees in technology, finance and higher education show the highest levels of AI use, especially compared with employees in retail, manufacturing and health care.

    However, the report also finds that employees who already use AI at work did so slightly more often in the fourth quarter of 2025 than in the prior quarter, continuing a gradual increase since 2023. The share of employees who use AI daily has grown from 10% to 12%, and frequent use—defined as engaging with AI at work at least a few times a week—has edged up three points to 26%.

    Courtesy of Gallup

    Going deeper

    “Minnesota-based CEOs, including Fortune 500 bosses, call for ‘immediate de-escalation of tensions’ after fatal shooting” is a Fortune article by Jason Ma.

    In an open letter Sunday from the Minnesota Chamber of Commerce, more than 60 CEOs said the business community has been working behind the scenes with officials for several weeks. 

    “With yesterday’s tragic news, we are calling for an immediate de-escalation of tensions and for state, local and federal officials to work together to find real solutions,” CEOs state in the letter. 

    Overheard

    “Retailers did not ask to be put into the middle of America’s political and legal fight over immigration. But they are being drafted nonetheless, and need to scream these facts loudly from the mountaintops to de-escalate a worsening situation.”

    —Jeffrey Sonnenfeld, professor and founder of the Yale Chief Executive Leadership Institute, and Steven Tian, a research director at the institute, and a former analyst for Rockefeller Capital Management, write in a Fortune opinion piece.

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    Sheryl Estrada

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  • Yeah, This Guy’s Looking Like the Frontrunner for New CEO of Apple

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    It looks like Tim Cook’s potential replacement is getting called up for a major league tryout. According to Bloomberg, John Ternus, Apple’s current head of hardware engineering, is having his role expanded and will now be handling design work within his unit. It’s the latest indicator that he could be next in line to take the top spot at the company when Cook decides to step down.

    Per the report, Ternus first got the call to take on hardware design around the end of last year. That puts Ternus in a position to oversee both hardware and software, seemingly providing a test case to see what direction he might take the company—and see how the public responds to it. (It doesn’t seem like he is responsible for the “liquid glass” update that has been widely derided, so if he can figure out how to fix that, he’d be off to a great start.)

    Ternus has been gaining momentum as the potential Cook successor for a while now. Earlier this month, the New York Times profiled him and documented some of his time at Apple, which he joined in 2001. It highlighted Ternus’ idea to add a small, photo-enhancing laser to high-end iPhones rather than all devices because die-hards would be willing to pay for it, while the average consumer wouldn’t care.

    The suggestion seems to be that Ternus would be a pragmatic CEO, following more closely in the footsteps of Cook than the more vision-driven approach of Steve Jobs. One former Apple employee told the Times, “If you want to make an iPhone every year, Ternus is your guy.” Of course, that won’t exactly be music to the ears of people who believe Apple’s design approach has stagnated over the years and the company has lost some of the luster that Jobs was able to bring by introducing devices like the iPhone and iPad.

    Bloomberg did note that while the role Ternus has been thrust into suggests a springboard to CEO-ship, it’s not a surefire guarantee that serving as the design overlord will get you the top spot. Jony Ive held down the seat for years before eventually departing from Apple in 2019, apparently over frustrations that the company stopped emphasizing innovation and started focusing on churning out replicable designs that drive profits. Jeff Williams most recently held the position, but he retired last year and was nearly the same age as Cook, so he wasn’t in line for a promotion.

    Whether Ternus ends up the heir to Apple’s throne, we’ll have to see. But it sure looks like he’s being given first crack at it.

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    AJ Dellinger

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  • Why Jollibee is turning to a U.S. IPO to fuel global growth | Fortune

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    Good morning. Chickenjoy—its crispy, juicy fried chicken—and Jolly Spaghetti are signature menu items at Jollibee, a Filipino fast-food chain that is building a growing fan base in the U.S. Now, the company is setting its sights on Wall Street. 

    The Philippines-based Jollibee Foods Corporation (JFC), the restaurant’s parent company, disclosed earlier this month that it plans to spin off its international operations and pursue a U.S. initial public offering for that business. The contemplated spin-off and listing are targeted for late 2027, leaving “quite a bit of time ahead of us for the work to be done,” Jollibee Global CFO Richard Shin said during a Jan. 14 media roundtable.

    JFC, which includes restaurant brands such as Smashburger and The Coffee Bean & Tea Leaf, is currently traded as a single group on the Philippine Stock Exchange and operates in 33 countries. Over the past 15 quarters, JFC’s international network has posted a 26.7% compound annual growth rate, outpacing the group’s overall 15.1% rate of expansion. The separation reflects increasingly distinct strategic profiles for the domestic and international businesses, Shin said.

    In March 2025, Jollibee launched its first U.S. franchising program. After opening its first North American location in 1998 in Daly City, California, the brand has since expanded to more than 100 locations across the U.S. and Canada as of early 2026.

    Why go the route of a U.S. IPO? “I think there’s a fact that we can all agree on: the U.S. capital markets have deep investor-based experience in valuing global consumer and restaurant growth companies,” Shin said on the call.

    Many such companies are still growing into their potential yet are often rewarded with higher multiples and valuations, he said. While that outcome is not guaranteed for JFC, a U.S. listing offers greater capital depth, liquidity, and broader analyst coverage, with any final decision subject to valuation and required approvals, he added.

    The IPO market in the U.S. is heating up again, Fortune’s Jeff John Roberts writes in a new feature article. “While 2026 will almost certainly not match the banner year of 1999, which saw 476 companies go public, investors should have far more choices than they did four years ago, when just 38 firms held an IPO,” he writes.

    Shin also framed the separation of JFC in terms of simplifying how investors assess the corporation, noting the group includes businesses at different stages of their life cycles, with varying returns and opportunities. Distinct domestic and international entities, he suggested, could offer investors clearer, more targeted investment options as the strategic profiles of the two segments continue to diverge.

    Reasons for pursuing the separation include improved transparency, discipline in capital allocation, execution against the growth strategy, and the ability to attract an investor base aligned with the risk–return profile of each business rather than being judged solely on short-term financial metrics, he said.

    “The transaction is aligned with the Jollibee Group’s long-term value creation strategy,” Shin said.

    With its eyes on Wall Street, Jollibee is betting that global taste and investor appetite will be on its side.

    Sheryl Estrada
    sheryl.estrada@fortune.com

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    Helen Cai was appointed senior executive vice president and CFO of Barrick Mining Corporation (NYSE: B), effective March 1, following the departure of long-serving finance chief Graham Shuttleworth, who will be leaving the company after its year-end results. Cai has served on Barrick’s board since November 2021 and brings more than 20 years of experience in equity research, corporate finance, capital markets, and M&A at firms across the mining, industrial, and technology sectors, primarily with Goldman Sachs and China International Capital Corporation.

    Meredith Peck was named CFO of Zekelman Industries, the largest independent steel pipe and tube manufacturer in North America. Peck succeeds Mike Graham, who will retire on May 15 following a planned transition period. She brings more than 20 years of financial leadership experience to Zekelman Industries and most recently served as CFO for COTSWORKS, Inc., after earlier roles as the company’s controller and then vice president of finance and administration. Earlier in her career, Peck held senior leadership roles at KeyBank and began her career in public accounting at PwC, and she is also a former U.S. Coast Guard officer.

    Big Deal

    In a blog post on Sunday, OpenAI CFO Sarah Friar provided an update on the tech giant, including its revenue. In 2023, revenue reached $2 billion in annual recurring revenue; it rose to $6 billion in 2024 and jumped to more than $20 billion in 2025.​

    This revenue growth closely tracked an expansion in computing capacity. OpenAI’s computing capacity rose from 0.2 gigawatts (GW) in 2023 to 0.6 GW in 2024 and about 1.9 GW in 2025.​

    Friar writes: “Compute is the scarcest resource in AI. Three years ago, we relied on a single compute provider. Today, we are working with providers across a diversified ecosystem. That shift gives us resilience and, critically, compute certainty.”​

    In an accompanying LinkedIn post, Friar said that from a finance perspective, demand is real and growing at rates never seen by any company previously, and that customers are paying in proportion to the value delivered. She added that capital is being deployed deliberately into the constraints that actually matter, especially compute. 

    Going deeper

    ACCA (the Association of Chartered Certified Accountants) and IMA (Institute of Management Accountants) have published a Global Economic Conditions Survey, based on the results of their Q4 2025 poll. Members from around the world share their views on the macroeconomic environment. 

    Confidence among CFOs improved somewhat, but remained below its historic average, and the key indicators point to caution at their firms, according to the findings. Accountants flagged economic pressure, cyber disruption, and geopolitical uncertainty as the top risk priorities, underscoring that risks are increasingly complex and interlinked. 

    “Accountants remain cautious entering 2026, amid a highly uncertain global backdrop,” Jonathan Ashworth, chief economist of ACCA, said in a statement. “The global economy performed better than expected in 2025 and looks set to remain resilient in 2026 amid recent monetary easing by central banks, stock market gains, supportive fiscal policies in key countries, and the ongoing global AI boom.” However, there remains significant uncertainty, amid a wide range of risks, “not least on the geopolitical front, which are more heavily skewed to the downside,” he said.

    Overheard

    “We are entering an IPO ‘mega‑cycle’ that we expect will be defined by unprecedented deal volume and IPO sizes.” 

    —Goldman Sachs’ global co-head of investment banking, Kim Posnett, recently told Fortune. Posnett discussed how she sees the current business environment and the most significant developments in 2026 in terms of AI, the IPO market, and M&A activity. Posnett, named among the leaders on Fortune’s Most Powerful Women list, is one of the bank’s top dealmakers and also serves as vice chair of the Firmwide Client Franchise Committee and as a member of the Management Committee.

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    Sheryl Estrada

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  • How AI is redefining finance leadership: ‘There has never been a more exciting time to be a CFO’ | Fortune

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    Good morning. This year has shown that AI isn’t just a buzzword anymore—it’s redefining finance. 

    In covering AI, I’ve spoken with CFOs across industries who are focused on value creation and developing real-world use cases for AI to reshape everything from forecasting and financial planning to strategic decision-making. As data moves faster than ever, finance leaders are asking a new question: not what AI could do, but how it can truly transform the enterprise. I’ve also talked with industry experts and researchers about topics ranging from the ROI of AI to “prompt-a-thons” and debates over whether AI will turn CFOs into chief capital officers.

    Finance chiefs are signaling the next big evolution—2026 will be the year of enterprise-scale AI. Pilot programs and proofs of concept are giving way to avenues for full-scale deployment as CFOs expect AI to deliver measurable value: faster decisions, leaner operations, and predictive insights that can provide a competitive edge. However, that level of transformation comes with new demands—governance, data integrity, and human oversight matter more than ever.

    I recently asked finance chiefs from leading companies how they expect AI to redefine what it means to lead in finance. For instance, Zane Rowe, CFO at Workday, told me: “There has never been a more exciting time to be a CFO with AI unlocking new opportunities for value creation through unprecedented data and insights. Most of the focus has been on experimentation and discovering the art of the possible, but this year, leaders will shift from ‘What can AI do?’ to ‘How do we build the foundation for scale?’ They will manage a more nuanced AI portfolio that balances launching pilots with rolling out proven solutions, and they will prioritize the unglamorous but critical work of data governance, process redesign, and maintenance of new technologies. Success in 2026 will be defined by how we mature our AI strategy to ensure it is both agile, durable, and enterprise-grade.”

    Shifting from the perspective of a major tech company to a beauty and cosmetics leader, Mandy Fields, CFO at e.l.f. Beauty offered this prediction: “From where a CFO sits, AI simultaneously helps broaden our view to get a better macro picture and can help put a sharper focus on very specific points of interest. e.l.f. Beauty is growing globally, and AI has visibility across it all. Going into next year, we’ll continue to explore how we best leverage AI in finance to lean into its strengths. It’s a pretty similar approach to our high-performance teamwork culture in which we encourage the team to pursue and thrive in the areas where they have expertise, learn continuously and move at e.l.f. speed.”

    You can read more insights from over a dozen CFOs on how AI will shape finance in 2026 in my complete article here.

    This is the final CFO Daily of 2025. The next issue will land in your inbox on Jan. 5. Thank you for your readership—and wishing you a wonderful holiday season. See you in 2026!

    Sheryl Estrada
    sheryl.estrada@fortune.com

    This story was originally featured on Fortune.com

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    Sheryl Estrada

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  • AI is reshaping banking—but not causing a jobs wipeout | Fortune

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    Good morning. An AI-fueled takeover of finance jobs doesn’t appear imminent, experts say.

    My Fortune colleague Emma Burleigh takes a deep dive into this topic in her new report, “Is AI really killing finance and banking jobs? Experts say Wall Street’s layoffs may be more hype than takeover—for now.” For example, despite Wall Street’s headline-grabbing layoffs this year, overall headcount across banking and finance has remained relatively stable.

    “I think the general [headcount] trend in the banking industry over the last decade is stable to slightly declining,” Pim Hilbers, a managing director working with banking and talent at BCG, told Burleigh. “I don’t see that changing anytime soon. That doesn’t mean that everybody just stays in their job for life. I think we see a lot more mobility than we saw in the past.”

    Burleigh writes about the banking sector: “So far, America’s largest financial institutions haven’t been making deep workforce cuts. Bank of America employed just four fewer workers at the end of the third quarter this year, compared to 2024. In that same time period, JPMorgan saw its headcount climb by 2,000 employees, and more than a third of the new staffers were brought onto corporate operations. Even Goldman Sachs, which implemented multiple rounds of layoffs this year, employed 48,300 this September—around 1,800 staffers higher than the year before.

    “Banks aren’t ready to shed staffers just yet; experts tell Fortune they’re pulling back on headcount growth for as long as possible, leaning on AI efficiency gains until they’re forced to add more humans to payroll. They predict this sluggish period of hiring could last for years.” Although AI isn’t replacing bankers just yet, there could be trouble on the horizon for marketers and accountants. You can read the complete report here. 

    Regarding banking, AI is also reshaping competitive advantage, a recent BCG report finds. Predictive, generative, and agentic AI are redefining the foundations of scale, efficiency, and customer experience. Banks must anchor AI strategy in business strategy. And “winning institutions” focus on where AI will deliver real returns, not just on deploying more technology, according to BCG.

    Sheryl Estrada
    sheryl.estrada@fortune.com

    This story was originally featured on Fortune.com

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    Sheryl Estrada

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  • Here’s What CEOs Want More of Next Year: Surprise, AI Tops the List

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    Integrating the breakthrough tech was seen as more important than attracting talented new workers.

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    Kit Eaton

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  • Lululemon Shakes Up Its Leadership Amid Slowed Growth

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    Lululemon CEO Calvin McDonald announced December 11 that he will exit in late January. The news came on the same day as the company posted its fiscal third quarter earnings, which revealed a drop in revenue.

    McDonald will step down January 31, but he’ll remain at the company as a senior advisor through March 31. As the board of directors searches for a replacement, CFO Meghan Frank and chief commercial officer André Maestrini will serve as interim co-CEOs.

    McDonald has served at the company for seven years.

    “As we near the end of our five-year strategy, and with our strong senior leadership team in place, we all agree that now is the time for a change,” McDonald said on LinkedIn. “When I joined Lululemon, I said this was my dream job. It exceeded every expectation.”

    Under his leadership, Lululemon quadrupled its international business and tripled its total revenue to over $10 billion, according to his post. It also became the top women’s activewear apparel brand in the U.S.

    But recently progress has slowed.

    The company reported earnings per share of $2.59 compared to Wall Street’s expected $2.25, and it saw revenue of $2.57 billion versus the expected $2.48 billion. 

    The final deadline for the 2026 Inc. Regionals Awards is Friday, December 12, at 11:59 p.m. PT. Apply now.

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    Ava Levinson

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  • School Specialty LLC Announces Acquisition of Nasco Education U.S.

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    Greenville, Wis – December 8, 2025 – School Specialty®, a leading provider of learning environments, supplies and science curriculum to the preK-12 education market, today announced the acquisition of Nasco Education U.S., a trusted name in specialized, curated education solutions for K-12 schools. This strategic acquisition enhances School Specialty’s ability to serve its core customers by enhancing its value proposition to schools across the country.

    “We estimate that nearly two-thirds of Nasco Education U.S.’s customers are already School Specialty buyers,” said Ryan Bohr, CEO of School Specialty. “Like School Specialty, Nasco Education U.S. has been an industry fixture of supplying schools for decades. Combining our companies will bring procurement efficiencies to our customers and expand the scope of products available to them.”

    School Specialty has more than 60 years of leadership in transforming classrooms into future-ready learning spaces for preK-12 educational institutions, serving five in every six school districts nationwide and curating products from hundreds of trusted brands. Nasco Education U.S.  offers a broad selection of specialized products, including hands-on, activity-based resources that support instruction across subjects like science, math, and the arts. Both companies share a deep commitment to providing high-quality, relevant resources that empower teachers and students.

    Both organizations will operate independently for the near term.  School Specialty expects to integrate the businesses gradually to ensure a seamless experience for the longstanding customers of both organizations. 

    “Together, we will be able to provide even greater support, innovation, and value to schools nationwide, helping them deliver the best possible learning experiences for their students,” said Ryan Bohr, CEO of School Specialty.

    About School Specialty, LLC 

    With a 60-year legacy, School Specialty is a leading provider of comprehensive learning environment solutions for the pre-K12 education marketplace in the U.S. and Canada. This includes essential classroom supplies, furniture and design services, educational technology, sensory spaces featuring Snoezelen, science curriculum, learning resources, professional development, and more. School Specialty believes every student can flourish in an environment where they are engaged and inspired to learn and grow. In support of this vision to transform more than classrooms, the company applies its unmatched team of education strategists and designs, manufactures, and distributes a broad assortment of name-brand and proprietary products. For more information, go to SchoolSpecialty.com.

    About Nasco Education U.S.

    Nasco Education U.S. is a leading developer and distributor of instructional materials, offering a wide range of hands-on learning products for the preK-12 education market with 80+ years of experience. Nasco Education U.S. provides schools and educators with the educational materials needed to create impactful classroom experiences that enhance student engagement and academic performance. For more information, go to NascoEducation.com.

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  • This Founder Cold-Emailed Salesforce CEO Marc Benioff 53 Times Before He Got What He Wanted

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    Harry Stebbings, founder of venture capital firm 20VC, send Salesforce CEO Marc Benioff 53 emails before the business leader finally agreed to appear on his podcast, 20VC. Stebbings discussed his strategy November 12 on Wouter Teunissen’s The Biography Podcast, and shared some tips for making your communications stand out.

    To Stebbings, nothing matters more than relationships. That’s why, in a world where you can find anyone’s email online, he thinks “everyone should learn to be a really efficient SDR, but essentially a stalker.” 

    The 29-year-old puts 30 minutes a week toward “hustle time,” when he thinks about who he wants on his podcast and how to make it happen. To this day, he said he’s roped most of his guests in with cold emails.

    Stebbings told Teunissen that while cold emailing is “super learnable,” it’s ridiculous that “so few people can do that well.” So he offered some clear cut advice. 

    How to Write a Cold Email

    The subject line should be “f—-ing clear” and to the point, as should the body of the email, Stebbings said. Skip the filler phrases.

    “I hope you’re well? Never,” he said. “Who says I hope you’re unwell? No one.”

    Instead, Stebbings advises to immediately state your objective. Tell the person what you’re asking and how much of their time you need.

    Provide some background information to steer them towards agreeing to your ask. In Stebbings’ case, he lists the subscriber count and a few guests he’s had on the podcast to give his request some validity. 

    Next comes a “P.S.” followed by a personal touch. Stebbings tried a few different routes, like offering Marc Benioff his favorite whiskey, or mentioning his holiday home and favorite vacation spot. 

    “Wow,” Stebbings said, imitating a recipient of his emails. “Super clear, really well outlined, and holy s–t he’s done his work on my favorite whiskey. Well done.”

    Don’t Delay the Follow Up

    If you’re lucky enough to connect in person, don’t wait until the day after to reach out. Stebbings said he always emails in the Uber home from the event or dinner.

    “It’s so important because it just shows them that you’re on it, and it’s fresh in their mind,” he said. “Not hard at all. Honestly, sometimes it can be a copy and paste and you just put the first line as personalized. Makes such a difference.”

    His slew of emails paid off when Benioff came on the podcast in a September 2023 episode. Benioff shouted out his unrelenting efforts in a post on X.

    “Harry must have texted and emailed me 100 times before I agreed to be on his podcast,” Benioff said. “Persistence pays Harry.”

    The final deadline for the 2026 Inc. Regionals Awards is Friday, December 12, at 11:59 p.m. PT. Apply now.

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    Ava Levinson

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  • United Way distributes thousands of Thanksgiving meal kits to families in Central Florida

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    IN CENTRAL FLORIDA, AND THE LONG LINES SHOW THAT MANY PEOPLE ARE IN NEED OF FOOD THIS YEAR. CARS STRETCHED AROUND THE BLOCK THIS MORNING AT VALENCIA COLLEGE. HEART OF FLORIDA, UNITED WAY DISTRIBUTED 6000 THANKSGIVING MEAL OR MEAL KITS TO FAMILIES IN NEED. MORE THAN A THOUSAND VOLUNTEERS PACKED THOSE MEALS THIS WEEK AT THE CENTRAL FLORIDA FAIRGROUNDS. THE ORGANIZATION SUPPORTS LOCAL WORKING FAMILIES WITH LIMITED ASSETS AND INCOME. THEY SAY THAT THESE FAMILIES ARE OFTEN LEFT CHOOSING BETWEEN RENT, MEDICINE AND PUTTING A HOLIDAY MEAL ON THE TABLE. THAT’S ENOUGH FOOD TO FEED 24,000 PEOPLE. THIS THURSDAY MORNING FOR THANKSGIVING, WE GIVE AWAY MEALS THAT ARE UNCOOKED. FAMILIES GO HOME. THEY CAN COOK THEIR MEAL TOGETHER AND HOPEFULLY ENJOY THE SAME MEAL THAT WE’LL HAVE THIS COMING THURSDAY. NO MATTER WHAT’S GOING ON, EVERYBODY WANTS TO LEND A HAND. AND THAT’S SO IMPORTANT BECAUSE PEOPLE DON’T ALWAYS GET ALONG. AND RIGHT NOW, A LOT OF PEOPLE ARE NOT GETTING ALONG. AND THIS IS WHAT WE NEED. WE NEED PEOPLE TO GIVE, TO WELCOME AND TO EMBRACE. WE CERTAINLY DO. EACH KIT INCLUDES A SHELF STABLE, FAVORITES, CANNED VEGETABLES, MASHED POTATOES AND SEASONINGS, PLUS A GIFT CARD SO THAT FAMILIES CAN BUY THE PROTEIN OF THEIR CHOICE. VOLUNTEERS DISTRIBUTED MEALS AT MULTIPLE LOCATIONS ACROSS ORANGE

    United Way distributes thousands of Thanksgiving meal kits to families in Central Florida

    Updated: 11:27 PM EST Nov 22, 2025

    Editorial Standards ⓘ

    Heart of Florida United Way distributed 6,000 Thanksgiving meal kits to families in need in Central Florida, with cars stretching around the block at Valencia College.More than 1,000 volunteers packed these meals earlier in the week at the Central Florida Fairgrounds.The organization supports local working families with limited assets and income, who often face difficult choices between rent, medicine, and holiday meals.”It’s enough food to feed 24,000 people this Thursday morning for Thanksgiving. We give meals that are uncooked, families can go ahead and cook their meals and hopefully enjoy the same meal we are having this upcoming Thursday,” Jeff Hayward, president and CEO of Heart of Florida United Way, said. Volunteer Alisa Toro said, “No matter what’s going on, everyone wants to lend a hand, that’s so important because people don’t always get along, and right now not a lot of people are getting along, this is what we need, we need people to give, welcome and to embrace.”Each kit includes shelf-stable favorites such as canned vegetables, mashed potatoes, and seasonings, plus a gift card for families to buy the protein of their choice.Volunteers distributed meals at multiple locations across Orange, Seminole and Osceola counties.

    , Fla. —

    Heart of Florida United Way distributed 6,000 Thanksgiving meal kits to families in need in Central Florida, with cars stretching around the block at Valencia College.

    More than 1,000 volunteers packed these meals earlier in the week at the Central Florida Fairgrounds.

    The organization supports local working families with limited assets and income, who often face difficult choices between rent, medicine, and holiday meals.

    “It’s enough food to feed 24,000 people this Thursday morning for Thanksgiving. We give meals that are uncooked, families can go ahead and cook their meals and hopefully enjoy the same meal we are having this upcoming Thursday,” Jeff Hayward, president and CEO of Heart of Florida United Way, said.

    Volunteer Alisa Toro said, “No matter what’s going on, everyone wants to lend a hand, that’s so important because people don’t always get along, and right now not a lot of people are getting along, this is what we need, we need people to give, welcome and to embrace.”

    Each kit includes shelf-stable favorites such as canned vegetables, mashed potatoes, and seasonings, plus a gift card for families to buy the protein of their choice.

    Volunteers distributed meals at multiple locations across Orange, Seminole and Osceola counties.

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  • Apple’s CEO Tim Cook May Retire Soon. How’s Your Succession Planning Going?

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    When legendary Apple co-founder and CEO Steve Jobs died in 2011, long-time Apple supply chain executive Tim Cook had already been appointed to take his place. That was 14 years ago. Cook, now 65 and Apple’s longest-serving CEO, steered the company through successful product releases and the benchmark feat of becoming the first $1 trillion valued company in 2018, but strong rumors suggest that he’ll be retiring next year. The company is certainly deep in succession planning, and this may prompt you to ponder long-term leadership plans for your own company. It’s an especially timely issue in a moment where the pressures of being a CEO keep increasing in a complex business environment.

    The Financial Times reported this weekend that preparations for Cook to step down were accelerating, per company insiders who said both board and senior executives are involved with the effort. Apple is now a roughly $4 trillion company with a global presence, so this is no ordinary job. The FT says that John Ternus, currently acting as senior vice-president of hardware engineering is “widely” seen as the most likely executive to replace Cook. Though no final decisions have apparently been made, Ternus has deep knowledge of the tech giant’s operations and has appeared many times on stage during high-profile Apple hardware releases. 

    Cook’s stepping aside is not related to Apple’s performance, the FT notes, with the company widely expected to see hugely successful sales of its just-released iPhone 17 range. Cook is known to have strong preferences for an internal candidate, remarking as much when speaking with musical artist Dua Lipa on her November 2023 podcast. 

    Covering the news, Axios argues that Cook’s departure may be symbolic of the end of the “star” CEO. Although Cook isn’t as high-profile as his predecessor, his tenure as chief executive saw Apple become a global tech leader. Other boldface-name CEOs are also set to depart soon, with Disney’s CEO Bob Iger and Walmart’s CEO Doug McMillon all “preparing to leave the stage,” as Axios notes. The news outlet points out there are now an “unusual number of globally iconic brands” seeking new leadership. It’s possible that the complex legal, societal, political and technological winds swirling around the U.S., particularly with fast-evolving AI technology in mind, are playing a part in this CEO switcheroo.

    A new report at Fortune may underline this theory. In surveying the world’s top 200 corporate chiefs from the Fortune 500 for a book, senior partners at global management consulting outfit McKinsey uncovered the thinking and methodology of these company leaders, finding that 68 percent said they felt “ill prepared” to become CEO even as they stepped into the role and that 30 percent of CEOs don’t stay past the first three years. The role of CEO may also be becoming more important, and also perhaps more tenuous—more at the whim of influences like activist investors—than before. 

    Fortune notes that this means chief execs are typically juggling “roughly twice as many issues” as they would have had to just five to seven years ago. That time period is well within Cook’s tenure as Apple CEO, for example, and in that time Apple has faced numerous high-profile challenges including the covid pandemic, billion dollar-scale lawsuits and a high-profile miss in the multitrillion race for AI market share.

    What’s the big takeaway for your company?

    While you may be comfortable with your leadership team right now, maintaining a rigorous medium-term succession plan may be a good idea. Unexpected illnesses, aging executive team members and other occurrences both planned and unplanned may mean you need to look for new C-suite members without much of a warning. Deciding whether you want to promote someone from inside the company, someone steeped in its culture and way of working, or whether you want to hire a “new broom” external candidate is probably a good start. Having long-term discussions with possible candidates earlier rather than later also shows that you have the stability of the company in mind in ways that will reassure your workforce and investors.

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    Kit Eaton

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  • Why So Many Inc. 5000 Companies Embrace Flexible Schedules

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    Join Inc. Premium (click here) to access additional data from the Inc. 5000, including revenue ranges, industry trends, and regional information.

    While executives at many large companies are pushing employees to return to the office full-time, believing remote work lowers productivity, leaders at some of the fastest-growing companies in the U.S. couldn’t disagree more. According to Inc.’s annual CEO Survey, 50 percent of Inc. 5000 companies offer hybrid work arrangements to their employees, while another 28 percent offer fully remote work. Regan Gross, HR knowledge advisor at SHRM, an industry trade group for human resources professionals, notes that these flexible work policies are “crucial” for “reducing burnout” and “enhancing job satisfaction.” And in this turbulent economy, the CEOs’ top HR concerns are retaining talent (59.3 percent) and recruiting talent (45.5 percent). So it should come as no surprise that these leaders are turning to a method that offers a high return with virtually zero cost.

    For Anna DiGilio, founder of Laprea Education, a Pleasantville, New York-based e-learning provider that focuses on literacy, building a remote workforce with flexible working hours was a no-brainer. All employees, except those working in Laprea’s warehouses, are remote. Before founding her company, which claimed the No. 1,571 spot on the 2025 Inc. 5000 list, DiGilio was a second grade teacher. It’s a job, she says, that offers zero flexibility—during class, you can’t even step away to use the restroom. It was a stressful environment, but when DiGilio was diagnosed with breast cancer, that lack of flexibility made it difficult to plan appointments. She also believes the stress and anxiety tied to her teaching job is “part of the reason for [her] diagnosis.”

    DiGilio decided she didn’t want to work that way anymore. After founding Laprea Education, she chose to build a remote workforce that provides employees the flexibility to take care of personal needs—whether that’s attending a doctor’s appointment or stepping away to watch your child’s school play.

    “I believe giving people flexibility and autonomy and trust that they’re going to do their work creates a really healthy work environment, which then creates a healthy body,” DiGilio says. “That’s what I want for my employees.”

    Beckie Diltz, founder of Proforma Solutions (No. 4,032 on the Inc. 5000), a Southern California marketing agency, also believes in offering employees flexibility to improve their wellbeing. While the company does not offer remote work, it introduced a compressed schedule in March to give employees a three-day weekend every other week. Mostly used by the oil and gas industry, the 9/80 schedule comprises eight nine-hour workdays and one eight-hour day over a two week period.

    Diltz and her team decided to adopt the 9/80 compressed workweek after a team member who previously worked in oil and gas suggested it would help improve work-life balance. Many Proforma employees are caregivers for young children or elderly adults, and they told Diltz they felt like they have “no downtime” on the weekend because they’re “running around taking care of things.” They also said it would be helpful to have a day during the week when they can take care of doctors’ appointments and other errands so they can actually enjoy the weekend. Diltz took this feedback to heart and agreed to try it.

    “People came back like they really had a break,” Diltz says. “Once we designed [the schedule], it didn’t feel like we were losing anything from a customers’ point of view.” 

    SHRM’s Gross confirms the 9/80 schedule can “enhance work-life balance” and “improve productivity” by giving employees more time off. But Gross cautions employers to be extra careful with their payroll planning if they plan on adopting a compressed work schedule.

    “Missteps can lead to compliance issues and inefficiencies,” Gross says. “While this schedule works well for certain types of roles, its success often depends on organizational culture, managerial adaptability, and the support systems in place.”

    For executives concerned that providing flexibility will reduce productivity, DiGilio says if employees are “working hard, getting results, and meeting deadlines” then, obviously, their work is getting done. This philosophy seems to have buy-in from Inc. 5000 CEOs, who told Inc. that to be an effective manager, company leaders need to show “adaptability and resilience” (36.2 percent) and “communication” skills (24.5 percent). Gross notes that the adaptability of entrepreneurs will serve them well in their search for talent.

    “The shift toward flexibility is a response to workforce demands for better work-life balance and is seen as a way to attract and retain top talent in a competitive business environment,” Gross says.

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  • A Real Estate Expert Points to a Key Indicator That WFH Perks May Be Doomed

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    Hold onto your sweats and slippers while you can. You may be logging off Zoom and trekking into work sooner than you think. That’s according to Liz Hart, president of leasing at real estate adviser Newmark, who predicted a nationwide return-to-office trend on Fox Business this past Tuesday.

    According to Hart, 70 percent of U.S. tenants currently looking for new offices are seeking the same size or larger spaces, suggesting a move to grow and welcome employees back in person. 

    One executive publicly pushing for a return to in-person work is JPMorgan Chase (JPMC) CEO Jamie Dimon. He cites younger staffers’ diminishing social lives as a key factor. 

    “I’m not making fun of Zoom, but younger people are being left behind,” he said recently in a panel discussion at the Future Investment Initiative in Saudi Arabia. “If you look back at your careers, you learned a little bit from the apprentice system. You were with other people who took you on a sales call or told you how to handle a mistake or something like that. It doesn’t happen when you’re in a basement on Zoom.” 

    It’s not the first time Dimon has called for a return-to-office. At the start of 2024, 2,000 JPMC employees signed a petition in support of the hybrid model. They said a full, five-day return to office would be financially straining and a “great leap backward” for the company. 

    Despite last year’s petition, Hart doesn’t think backlash to an in-office mandate should be an issue. “We have to start with purpose and with trust and going back to why are you coming to the office?” she says. “It’s because you’re wanting to solve a problem and it’s because you’re really excited about the work that you’re doing. I think when we’re seeing companies that really have something that they’re excited to solve for, we’re seeing a great return-to-office.” 

    She says she agrees with Dimon’s assessment that people solve problems more efficiently in person, especially in the age of AI and the new types of challenges it poses. In fact, she says 60 percent of tenants in the technology sector are looking to grow their office spaces. 

    The trend doesn’t just apply to older companies—new companies are also wanting to grow their in-person employee count. Hart says the data includes three- and four-year-old companies with real estate requirements of over 100 square feet.  

    “This is not the kind of growth that we’ve seen in the market for the past five years, so it’s quite encouraging to see these new companies that are coming up, mostly in the artificial intelligence sector,” Hart says.

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  • Exclusive: $1 billion canned water brand Liquid Death names new CFO as it gears up for expansion | Fortune

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    Good morning. Liquid Death has tapped Ricky Khetarpaul, a PepsiCo alum, as finance chief of the popular L.A.-based water startup that’s expanded into other beverages.

    “It’s a truly healthy beverage platform with a proven track record as an innovator across categories,” Khetarpaul told me. “I’ve been a big fan of Liquid Death.”

    Founded in 2017 by CEO Mike Cessario, Liquid Death is valued at approximately $1.4 billion and is known for its edgy, skeleton-stamped tallboy cans filled with water, sparkling water, or iced tea with fruit juice—not alcohol.

    In 2024, the company’s scanned sales were north of $300 million, and it has achieved a 380% CAGR since its 2019 launch. This month, Liquid Death announced a new distribution deal with Big Geyser in New York.

    Khetarpaul succeeds Karim Sadik-Khan, who joined Liquid Death as finance chief in June 2024. Sadik-Khan is currently the CFO at Spindrift, according to his LinkedIn profile.

    Before joining Liquid Death, Khetarpaul was the CFO of Health-Ade, a kombucha and gut-health soda brand. He previously served as North America CFO for Lavazza, spent over eight years in finance at PepsiCo, leading reporting, forecasting, and planning for a $5 billion beverage portfolio, and held leadership roles at Sabra Dipping Co. and Walgreens Boots Alliance.

    He noted that the biggest challenge for CPG (consumer packaged goods) brands is building strong consumer loyalty. “Even bigger brands I’ve worked with have struggled,” he said. “But in just a few years, Liquid Death has built one of the biggest fan bases in the beverage industry.”

    Strategic marketing

    According to a recent NCSolutions survey, half of Gen Zers said they are alcohol-free by choice, and 43% believe Gen Z is driving the “sober curious” movement. Gen Z and millennials account for over 70% of Liquid Death’s customers.

    Cessario, a former marketing executive, credits the company’s entertainment-first, social media-centric marketing for its strong appeal among young consumers. Liquid Death has 14.5 million followers across TikTok and Instagram.

    Khetarpaul sees marketing as a growth center, drawing on his own experience in sales and marketing at PepsiCo before moving into finance. “I view the CFO role as a growth driver, not just a traditional controller,” he said. “Liquid Death’s marketing converts brand awareness into sales; the company is very metrics-driven. We measure marketing investments both strategically and in terms of ROI, which is music to any CFO’s ears.”

    The brand has also run campaigns with celebrities and partners. For example, it recently launched a limited-edition Fruity Pebbles sparkling water called Cereal Criminal on Amazon. Liquid Death plans to enter the $23 billion energy drink market in 2026 with Liquid Death Sparkling Energy, which is naturally caffeinated from coffee beans rather than synthetic sources, Khetarpaul said.

    However, the segment is highly competitive, dominated by brands such as Red Bull and Monster. As CFO, Khetarpaul is set to play a key leadership role in helping Liquid Death become the “next true multi-category beverage brand,” Cessario said in a statement.

    Backed by a loyal fan base and an ambitious CFO, Liquid Death is ready to disrupt the beverage aisle—again.

    Sheryl Estrada
    sheryl.estrada@fortune.com

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    Lydia Brown has been appointed CFO of Citrin Cooperman, a professional services provider for private, middle market businesses and high net-worth individuals, effective Oct. 13. Brown succeeds Larry Diamond, who will retire after three years of dedicated service as the firm’s CFO. Brown brings more than 30 years of experience in the professional services industry, including senior financial leadership roles across both private-equity-backed and publicly traded companies. Most recently, she served as CFO for HKA, a global consultancy.

    Craig Chamberlin was appointed EVP and CFO of Vertiv Holdings Co. (NYSE: VRT), a digital infrastructure company, effective Nov. 10. Chamberlin succeeds David Fallon, who previously announced his intention to retire from Vertiv and serve as a consultant to the company through Dec. 31. Chamberlin joins Vertiv from Wabtec Corporation, where he most recently served as group VP and CFO of the company’s transit segment.

    Big Deal

    The 2025 Fortune Most Powerful Women (MPW) Summit began on Monday in Washington, D.C., and continues through Wednesday. You can join us at MPW via livestream for the main stage sessions. View the agenda here.

    The MPW franchise started in 1998 with the publication of the first-ever Most Powerful Women in Business ranking. The response to this list made it clear that these trailblazing women needed a platform to come together and discuss the unique challenges they were facing. And so, Fortune MPW evolved into a community of leaders that gathered at invite-only events, such as the annual Summit. This year’s theme is “Leading in a Dynamic World.” 

    Going deeper

    The latest EY Global IPO Trends report found that in Q3 2025, global equity markets rebounded strongly, with major indices in the U.S., Asia, and Europe reaching new highs after months of pressure from tariffs, interest rate uncertainty, and debt concerns. The rally was driven by looser monetary policy and solid corporate earnings, according to the report.

    Overheard

    “Frankly, this thing that trade is dead is completely overstated. Trade is like water. You put [up an] obstacle, it goes around it.”

    —Kristalina Georgieva, head of the International Monetary Fund, said during the Fortune Most Powerful Women summit in Washington, D.C., on Monday. Georgieva downplayed any fears of a trade war but recognizes the world is becoming “foggier” and full of uncertainty. She said one of the biggest challenges comes from getting buy-in that cooperation is better than division: “We are in this one big boat. It is a rough sea. We’d better row together,” Fortune reported.

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    Sheryl Estrada

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  • Why Your Workforce Strategy Must Go Global

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    David Nilssen, an Entrepreneurs’ Organization member in Seattle, is the CEO of Doxa Talent, which helps businesses build and scale high-performing, borderless teams leveraging talent from across the world. He has more than 800 team members and zero office space. He is also the co-founder of Guidant Financial, which has helped 30,000 entrepreneurs secure $7 billion to start or buy a business in each of the 50 U.S. states. Below he shares the pertinence of business leaders adopting a global business strategy. 

    Every CEO I talk to has the same fundamental concern. “We can’t find enough qualified people.” It’s not just your company or your industry. It’s a structural shift reshaping how we must think about talent.  

    Here’s the reality: Gallup reports that 51 percent of U.S. employees are currently watching for or actively seeking new jobs—the highest level since 2015. That kind of churn is expensive. Replacing a frontline worker costs about 40 percent of their annual salary, while replacing a manager can cost up to double that. This cycle is both expensive and exhausting.  

    But what if this isn’t just another post-pandemic disruption? What if it’s the beginning of a decade-long talent drought that will force every company to rethink where and how they source talent? My company manages more than 800 team members across six countries without a single office. I’ve had a front-row seat to the demographic forces reshaping global talent markets. The data tells a clear story most business leaders aren’t ready to hear: Your workforce strategy must go global. 

    The demographic time bomb 

    Most business leaders understand that talent acquisition is challenging right now, but few grasp just how permanent this shift will be. Birth rates have been sliding since the post-industrial era, with the global fertility rate falling from roughly five children per family a century ago to just 2.2 in 2024. In the U.S., this rate has plummeted to 1.62, well below the 2.1 needed just to keep the population stable. This isn’t speculative futurism. It’s simple mathematics. Fewer babies today mean fewer workers tomorrow.  

    Population pyramids tell the story clearly. A healthy growing nation has a pyramid shape with a broad base of youth. Across Europe, Asia, and the Americas, these pyramids are inverting, with more seniors than toddlers. Even if society suddenly started having more babies, it would take two decades to impact the workforce. 

    The evolution of worker expectations  

    While demographics create the supply challenge, evolving worker expectations create a demand-side revolution. Post-Covid, the workforce has divided into five distinct personas, according to McKinsey research:  

    • Traditionalists who value career advancement (but their numbers are dwindling)  
    • Caretakers who prioritize flexibility for family responsibilities  
    • Do-it-yourselfers who value autonomy and location independence  
    • Idealists who seek purpose and development  
    • Support-seekers who value employers that provide wellness resources  

    The common thread? A dramatic shift in work location preferences. According to the U.S. Career Institute, only 5 percent of workers want to be in an office full-time, while 54 percent never want to go to an office at all. Many companies respond by compromising with hybrid policies, but this gives us the worst of both worlds—paying for both a physical office and remote setups without being optimized for either. It’s like paying a mortgage on a house you use just one day a week. 

    Global talent as a strategic response  

    The companies that win will be those that see these twin forces—demographic shifts and evolving worker expectations—as an opportunity to gain competitive advantage. Global talent addresses both challenges simultaneously.  

    Remote work delivers what employees crave: flexibility, more time with family, and freedom from commuting. For example, our team members in the Philippines save an average of three and a half hours daily by eliminating commuting. That’s 38 extra days yearly they get back with family. This explains why retention stays strong despite competitors occasionally offering slightly higher compensation.  

    For employers, going global lets you fish in a much larger talent pond, allowing small and midsize companies to punch above their weight class against larger organizations now demanding returns to the office. When I ran a company in Seattle, we competed for talent with giants like Microsoft, Amazon, and Boeing. We couldn’t match their salaries, but we could offer something equally valuable: flexibility and purpose. 

    Making global collaboration work: The split-shift advantage  

    Time zones present a legitimate challenge for global teams, but there’s a solution we’ve found remarkably effective: the split shift. In this model, team members in places like the Philippines might start at 4 a.m. their time or 2 p.m. U.S. Pacific time. This creates a three to four hour overlap for collaborative work. When U.S. team members end their day, their international colleagues continue working, creating a 24-hour productivity cycle. This approach spares international team members the health toll of working all night while maintaining momentum on projects. 

    Matching regions to needs 

    Beyond time zones, matching the right region to your specific needs is critical:  

    • India excels at finance and technical development  
    • The Philippines is the gold standard for customer experience and back-office support  
    • Colombia offers excellent nearshore opportunities for time zone alignment  
    • Vietnam and Kenya shine in data labeling, coding, and design  

    The key is finding the strategic fit between your needs and regional strengths rather than simply chasing the lowest labor costs. 

    Building for the AI-augmented future  

    The final piece of this strategic puzzle is AI readiness. Every technological breakthrough from the printing press to the internet sparked fears of mass unemployment, yet each time productivity and job creation increased overall. Generative AI will likely follow the same pattern. For firms that adopt early, it’s a tailwind. For laggards, it’s an existential threat.  

    The human-in-the-loop future will see AI handling volume while humans provide oversight, judgment, and relational nuance. This makes a global talent strategy even more critical, as you’ll need diverse teams that can orchestrate systems rather than just execute tasks. 

    The path forward 

    The talent shortage isn’t temporary. Instead, it’s a structural reality that will define the next decade of business. Companies that recognize this demographic inevitability and adapt fastest will create a substantial competitive advantage. Your workforce strategy must go global not because it’s trendy, but because it’s the only sustainable solution to the demographic and workplace transformations reshaping our world. The question isn’t whether to embrace global talent—it’s how quickly you can adapt before your competitors do. 

    The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

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    Entrepreneurs’ Organization

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  • Why Scandals Hurt CEO Reputations More Than Fraud

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    The infamous viral video that featured Andy Byron, the then-CEO of the small New York-based data platform Astronomer, on the kiss cam at a Coldplay concert in a seemingly intimate embrace with his chief people officer, Kristin Cabot, went global earlier this year. Both parties were married to other people, so Byron quickly took the fall and resigned, with Cabot following shortly after.

    Given the worldwide attention the clip gained, their resignations were all but inevitable. But new research suggests that a scandal of a personal nature like this is much more harmful to CEOs than you might think — no rock band kiss cam necessary. In fact, if a CEO is caught committing fraud, it’s far less harmful to their future than becoming embroiled in a more personal scandal.

    The actual figure is surprising: CEOs are five times more likely to survive fraud-related scandals than they are if they get caught in inappropriate relationships, issues like drug or alcohol abuse, violence or inappropriate speech, Phys.org reports. The study leader, Aaron Hill, an associate professor from the University of Florida Warrington College of Business, told the news outlet that in an instance of financial fraud, a CEO “can easily say, ‘Hey, it wasn’t me,’” but for the other sorts of scandal, like “personal misconduct, there’s no excuse,” because it’s harder to evade accusations of direct involvement in the problem.

    The researchers also found company boards act decisively when a leader’s personal scandals become known, but recent company performance has more of an impact on how they react to a leader’s involvement in a financial scandal. If the company is doing well, the CEO is more likely to be allowed to remain at their post, possibly because company directors may have “plausible deniability” about absolute blame, and little incentive to disrupt the company’s success.  

    And when a leader does get fired when their personal misbehavior goes public, the researchers found boards are more likely to promote an insider into the role. it’s a “signalling move,” according to Hill, implying the company is fine, and the behavior of one bad apple has been addressed. “Stick with an insider after a personal scandal, and it says the organization itself is sound,” Hill said. He added that if it’s fraud, it’s better to reassure markets and clients by hiring an outsider. This is exactly what Astronomer did, in the wake of the Coldplay video scandal, by promoting Pete DeJoy, a co-founder, into an interim CEO position while looking for a replacement.

    CEOs, of course, hold massive authority over their companies, and their public image may be tightly bound up with that of the firm itself. Recent data show exactly how influential CEOs have become, with the average leaders’ pay rising nearly 6 percent in 2024, so they now make 281 times the salary of the average worker, the Economic Policy Institute showed.

    Acting swiftly to remove a scandal-tangled CEO thus makes economic sense as well as protecting the company from reputational harm. This is something Hill also highlighted, noting that firing a CEO after a scandal is nearly always motivated by finances. Meanwhile if a company leaves a CEO in post, it can simply send “the wrong message — to employees, to investors and to the public,” Hill noted.

    What can you take away from this for your own company? 

    You might think that in your smaller, more family-like atmosphere none of these issues are likely to raise their ugly heads. And hopefully you’re right. But remember that recent data show one in three U.S. workers has had a relationship with their manager, and 91 percent of the people surveyed said they’d used flirting or charm to boost their position with leadership.

    The one lesson you can learn from this is that a scandal really can impact your company unless it’s handled right, and one of a personal nature (instead of, say, fraud) can be even more damaging for the executives involved. 

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    Kit Eaton

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  • Tri-Valley is one of the fastest growing regions in the Bay Area

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    Since the 1970s, the Tri-Valley region of the Bay Area has seen significant growth. In places like Dublin and San Ramon, the population has tripled. Meanwhile, other cities in the region have seen their populations double. The Tri-Valley is nestled into the Diablo Mountain Range and is made up of the cities of Pleasanton, Livermore, Dublin, San Ramon and Danville and the surrounding communities. “We saw a growth that changed the community,” said Alameda County District 1 Supervisor David Haubert. “We literally saw Dublin change.”Haubert and his family moved to Dublin 25 years ago. They raised their daughters there and were active in the community, including joining the school board. Haubert went on to become the mayor of Dublin before becoming a county supervisor. “When I left as mayor in the city of Dublin, I said, ‘We’ve seen a lot of great things to happen. But, I want you to know our best days are yet to come.’ Dublin has continued to progress, I say we have even greater days yet to come,” Haubert said. Some of the reasons people are choosing to move to the Tri-Valley include the open spaces, great school districts, and cheaper housing costs. Nearly 10,000 single-family homes have been built in the Tri-Valley in the last 15 years. Developer Trumark Homes currently has approvals for more than 1,500 homes in the Tri-Valley, according to the San Francisco Chronicle. One of Trumark’s biggest developments is Francis Ranch in Dublin. That development has 573 homes under construction. And as the population has grown, communities have seen their demographics shift as well. “Twenty years back, there were not that many people from the South Asian community,” said Prasad Ramakrishnan. Ramakrishnan moved with his family from Fremont to San Ramon two decades ago. He still commutes to Silicon Valley for work, but was drawn to the open spaces and parks in the Tri-Valley.Ramakrishnan is on the board of the Indian Community Center and says the diversity of San Ramon is one of the reasons he’s grown to love the city so much. According to census data, 23% of residents in San Ramon identify as Indian, including Ramakrishnan.”It doesn’t matter where you’re from. All of us are humans, let’s all get together. San Ramon creates that kind of an environment where you have people from different ethnic backgrounds kind of coming together,” Ramakrishnan said. “We celebrate Diwali, we celebrate Christmas, we celebrate the Muslim functions.”But of course, growth doesn’t come without growing pains. Many of those pains can be found along the highways. “680 is the only real highway from here to South Bay. These are called bedroom communities, and then they work in the South Bay. Giving them an easy way by which to get there would be a nice thing,” Ramakrishnan said. However, Haubert is betting on a future without so many people having to commute outside of the Tri-Valley for work. “I truly believe businesses will locate here,” Haubert said. “I understand that’s often the decision of the CEO. So a lot of CEOs live in Silicon Valley, but a lot of future CEOs live in the Tri-Valley. That’s my belief.”See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel

    DUBLIN, Calif. —

    Since the 1970s, the Tri-Valley region of the Bay Area has seen significant growth. In places like Dublin and San Ramon, the population has tripled. Meanwhile, other cities in the region have seen their populations double.

    The Tri-Valley is nestled into the Diablo Mountain Range and is made up of the cities of Pleasanton, Livermore, Dublin, San Ramon and Danville and the surrounding communities.

    “We saw a growth that changed the community,” said Alameda County District 1 Supervisor David Haubert. “We literally saw Dublin change.”

    Haubert and his family moved to Dublin 25 years ago. They raised their daughters there and were active in the community, including joining the school board. Haubert went on to become the mayor of Dublin before becoming a county supervisor.

    “When I left as mayor in the city of Dublin, I said, ‘We’ve seen a lot of great things to happen. But, I want you to know our best days are yet to come.’ Dublin has continued to progress, I say we have even greater days yet to come,” Haubert said.

    Some of the reasons people are choosing to move to the Tri-Valley include the open spaces, great school districts, and cheaper housing costs. Nearly 10,000 single-family homes have been built in the Tri-Valley in the last 15 years.

    Developer Trumark Homes currently has approvals for more than 1,500 homes in the Tri-Valley, according to the San Francisco Chronicle.

    One of Trumark’s biggest developments is Francis Ranch in Dublin. That development has 573 homes under construction. And as the population has grown, communities have seen their demographics shift as well.

    “Twenty years back, there were not that many people from the South Asian community,” said Prasad Ramakrishnan. Ramakrishnan moved with his family from Fremont to San Ramon two decades ago. He still commutes to Silicon Valley for work, but was drawn to the open spaces and parks in the Tri-Valley.

    Ramakrishnan is on the board of the Indian Community Center and says the diversity of San Ramon is one of the reasons he’s grown to love the city so much. According to census data, 23% of residents in San Ramon identify as Indian, including Ramakrishnan.

    “It doesn’t matter where you’re from. All of us are humans, let’s all get together. San Ramon creates that kind of an environment where you have people from different ethnic backgrounds kind of coming together,” Ramakrishnan said. “We celebrate Diwali, we celebrate Christmas, we celebrate the Muslim functions.”

    But of course, growth doesn’t come without growing pains. Many of those pains can be found along the highways.

    “680 is the only real highway from here to South Bay. These are called bedroom communities, and then they work in the South Bay. Giving them an easy way by which to get there would be a nice thing,” Ramakrishnan said.

    However, Haubert is betting on a future without so many people having to commute outside of the Tri-Valley for work.

    “I truly believe businesses will locate here,” Haubert said. “I understand that’s often the decision of the CEO. So a lot of CEOs live in Silicon Valley, but a lot of future CEOs live in the Tri-Valley. That’s my belief.”

    See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel

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  • Alexandria public housing director fired after being on probation for living in one of the agency’s units – WTOP News

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    Chief Executive Officer for the Alexandria Redevelopment and Housing Authority Erik Johnson was fired Thursday after being on probation for living in one of the agency’s units, according to a statement from the ARHA Board of Commissioners. 

    The head of an Alexandria, Virginia, public housing agency was fired after being on probation for living in one of the agency’s units.

    Chief Executive Officer for the Alexandria Redevelopment and Housing Authority Erik Johnson was fired Thursday, according to a statement from the ARHA Board of Commissioners.

    Johnson was placed on probation last month after the housing authority learned he was living in one of its units. He was told to immediately leave the unit, a previous statement said.

    Johnson told local news site ALXNow that he temporarily moved into a public housing unit in the Old Town neighborhood in July while transitioning residences. The Washington Post also reported the news of Johnson being placed on probation.

    “There is a huge waiting list for these units, for people who qualify by virtue of income,” said Carter Flemming, a former board member. “So for somebody who’s the CEO of ARHA to take one of those units offline, that could have been given to somebody who really deserves and needs the housing, it’s just not right.”

    In a multipage letter to the board, shared on behalf of the Alexandria City Council, Mayor Alyia Gaskins called for an investigation into Johnson’s actions and ARHA’s finances.

    Flemming said in the early 2000s, there were allegations of housing staff moving friends up the line for affordable housing units. But, actions such as those “got cleaned up or stopped, if it ever happened,” she said.

    “We were on a better footing, doing large redevelopment projects and building a good reputation, and this just destroyed that, basically,” Flemming said. “Because now, justifiably, the city council and all is asking a lot of questions about how this could have happened.”

    The housing authority’s board, in its newest statement, said an independent investigation into Johnson’s actions remains ongoing and will help determine the board’s next steps.

    In the meantime, Rickie Maddox will be serving as the acting CEO. She served as interim CEO prior to Johnson being chosen last year.

    Get breaking news and daily headlines delivered to your email inbox by signing up here.

    © 2025 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.

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    Ana Golden

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  • Snowflake tops Fortune Future 50, new CFO highlights AI leadership | Fortune

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    Good morning. U.S. tech companies, particularly in software, have dominated the 2025 Fortune Future 50 list.

    Snowflake, a cloud-based data storage company, takes the top spot on the list released this morning, followed closely by data, analytics, and AI provider Databricks. Both companies are fueled by the rise of AI in business—their platforms enable organizations to unlock and activate their own data as the foundation for artificial intelligence. Rounding out the top five are Celonis, DataRobot, and Astera Labs.

    Since 2017, Fortune has partnered with the consulting firm BCG to publish the Future 50, an annual index of global companies, both publicly traded and venture-backed private firms, with the strongest prospects for above-average, long-term growth. The list highlights top scorers in “corporate vitality,” a measurable and manageable quality that reflects a company’s innate ability to expand.

    Snowflake is not only well-positioned for growth but also preparing for leadership changes. Earlier this month, the company announced that Brian Robins will become CFO on Sept. 22, succeeding Mike Scarpelli, who is retiring. Robins served as CFO of GitLab since 2020 and, before that, held CFO roles at Sisense, Cylance, AlienVault, and Verisign, a Nasdaq-listed company.

    “Snowflake is at the center of the AI revolution,” Robins said in a statement. “I am thrilled to be a part of this hyper-growth phase.” He said he’s committed to helping the company scale efficiently to achieve its vision.

    Sridhar Ramaswamy, CEO of Snowflake, echoed that sentiment: “We’re incredibly confident in our next chapter of growth with Brian taking the helm as our new chief financial officer. Brian’s deep commitment to operational rigor and long-term high growth aligns perfectly with Snowflake’s strategic direction.”

    Robins will be tasked with sustaining Snowflake’s momentum. For the quarter that ended July 31, the company reported earnings of 35 cents per share, nearly double from the same period last year. Revenue climbed 32% to $1.1 billion, surpassing estimates of $1.09 billion.

    With a new finance chief, rising demand for AI-powered solutions, and continued revenue growth, Snowflake is aiming to remain a dominant force. View the complete Fortune Future 50 list here.

    Sheryl Estrada
    sheryl.estrada@fortune.com

    Leaderboard

    Joshua Reed was appointed CFO of Alkermes plc (Nasdaq: ALKS), effective Sept. 15. Reed brings over 30 years of financial leadership experience. Most recently, he served as CFO of Omega Therapeutics, a then publicly traded biotechnology company. Before that, Reed was the CFO at Aldeyra Therapeutics. Earlier in his career, he spent more than a decade at Bristol Myers Squibb, culminating in his role as VP and head of finance operations for the U.S. and Puerto Rico.

    Travis T. Thomas, CFO of Ring Energy, Inc. (NYSE American: REI), has resigned effective immediately to pursue other opportunities. According to the company’s announcement, his resignation was not the result of any disagreement between Ring Energy and Thomas regarding financial, operational, policy, or governance matters. Rocky Kwon, currently VP of accounting, controller, and assistant treasurer, has been appointed interim CFO. The company has begun a search for a permanent replacement.

    Big Deal

    Americans’ trust in the responsible use of AI has improved since Gallup began measuring the topic in 2023, according to a newly released report. This year, about a third (31%) of Americans surveyed said they trust businesses to use AI responsibly—3% said “a lot,” and 28% said “somewhat.” In 2023, only 21% expressed trust in businesses’ use of AI.

    Still, skepticism remains. Forty-one percent of respondents this year said they do not trust businesses much when it comes to using AI responsibly, while 28% said they do not trust them at all.

    The findings come from the latest Bentley University–Gallup Business in Society survey, based on responses from 3,007 U.S. adults in a web-based poll.

    According to Gallup, the challenge businesses face as they deploy AI is clear: “They must not only demonstrate the technology’s benefits but also show, through transparent practices, that it will not come at the expense of workers or broader public trust.”

    Courtesy of Gallup

    Going deeper

    “Unconscious Uncoupling: CFO Business Partnering 2025” is a report by Datarails based on a survey of 240 U.S. heads of sales, marketing, HR, IT, customer service, and R&D departments regarding their relationships with CFOs. Although finance teams have evolved into strategic business partners, nearly all business executives (97%) still view their finance chief’s primary role as “limiting spending.”

     

    Overall, 51% of executives ranked poor communication as their biggest complaint in the relationship. IT executives reported having the strongest “business partner” relationship with the CFO’s office, according to the survey.

    “Without finance partnership, businesses will continue to lose significant opportunities to drive growth,” said Didi Gurfinkel, CEO and co-founder of Datarails.

     

    Overheard

    “In the same way that every company became a technology company, I think that every company will become an AI company.”

    —Robinhood CEO Vlad Tenev told David Rubenstein last week during an interview on Bloomberg Wealth.

    This is the web version of CFO Daily, a newsletter on the trends and individuals shaping corporate finance. Sign up for free.

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    Sheryl Estrada

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  • AI consulting firm hits $1 billion, makes employees part owners

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    Good morning. Retaining and engaging employees remains a core priority for many companies.

    For Synechron, this meant celebrating its $1 billion annual revenue milestone by making every employee a part owner. The private AI and tech consultancy recently announced its offering a universal equity grant to all 16,000 employees worldwide—each will receive $1,000 in restricted stock units (RSUs).

    Unlike typical performance- or tenure-based models, this RSU grant is equal for all employees, regardless of location or role. There’s no minimum tenure requirement for the award, which is granted to current employees only. The company maintains separate, performance-driven equity awards as well.

    Reaching $1 billion, bootstrapped and without outside investors, is a notable accomplishment, CEO and cofounder Faisal Husain told me. Founded in 2001, the once-small New York startup has grown over 24 years into a global player with offices in 21 countries.

    Leadership wanted a celebration of the milestone that reflected the company’s values, Husain said. After considering standard rewards like gift cards or gadgets, they chose a shared equity stake. “It’s the best form of appreciation,” he said.

    “We’ve all heard the stories—if you bought $1,000 of Amazon or Microsoft shares 20 years ago, it would be worth a lot today,” Husain told me. Synechron employees could have a similar opportunity. 

    Asked if an IPO is in Synechron’s future, he said it’s possible, but, for now, the focus is on growth, innovation, and helping clients through technology’s rapid changes. “We’ve kept the company privately held for 24 years,” Husain said. At some point, things may change, he added, “but we’re not in any rush.”

    Leadership sets the culture

    The grant ties directly to Husain’s leadership philosophy—it reflects a culture of transparency and inclusivity reinforced by regular town halls and a belief that everyone should share in the firm’s success, he said.

    I spoke with two Synechron employees. Roya Shahilow, chief of staff in London for a decade, recalled joining when revenue was just $300,000. “The $1 billion mark felt like a dream in the distance,” she said. “It’s a proud moment to have achieved that.”

    Annushree Chute, senior manager of immigration and travel in Pune, India, also with the company for 10 years, echoed that the excitement in the office was palpable when the news broke. Both credit the company’s supportive culture for their long tenures. “Connecting with everyone, from associates to the CEO, is very important,” Chute said. Shahilow added, “Granting these RSUs speaks volumes about our culture.”

    Every employee received a medallion as a physical symbol of their shares. Shahilow plans to frame hers; Chute will display hers on her desk.

    As CEO, Husain is both reflecting on this achievement and focused on future growth. “Now we have to chart a new path,” he said. “How do we go from $1 billion today to $10 billion? It’s my role to make sure we stay on the winning side.”

    Sheryl Estrada
    sheryl.estrada@fortune.com

    Leaderboard

    Inder M. Singh was appointed CFO and chief operating officer of IonQ (NYSE: IONQ), a quantum computing and networking provider, effective immediately. Singh succeeds Thomas Kramer, who will remain at IonQ in an advisory capacity for up to 60 days. Singh most recently served as CFO of Arm, a British semiconductor and software design company, where he oversaw the majority of its IPO. Singh previously held several leadership roles at Unisys, a global technology solutions company, culminating with his position as CFO. Before that, Singh led financial strategy for Cisco, one of the world’s largest networking companies, as its VP of corporate financial strategy and M&A.

    Samantha Rutty was appointed EVP and CFO at Myers Industries, Inc. (NYSE: MYE), a manufacturer, effective Sept. 22. Rutty brings to her new role more than two decades of finance leadership experience across global services and manufacturing companies. She joins Myers from The Brink’s Company, where she had served as VP and CFO of Brink’s North America since November 2022. Before that, Rutty spent 20 years with Eaton Corporation in a series of senior finance roles, including director of finance, eMobility.

    Big Deal

    The Labor Department released the August jobs report on Friday, showing U.S. employers added just 22,000 jobs as the labor market continued to cool. Hiring slowed from an upwardly revised 79,000 in July. The unemployment rate rose to 4.3%, the highest level since 2021. 

    The results are likely to heighten concerns at the Federal Reserve about labor market weakness, according to a note to clients from BofA Global Research. “There is now clearer evidence of deterioration in labor demand, not just supply,” BofA economists wrote. “Therefore, we are changing our Fed call to show two 25bp cuts this year, in September and December.”

    Jerome Powell’s current term as chair of the Federal Reserve is set to expire in May 2026. BofA economists maintain their view that the next Fed Chair will guide the Federal Open Market Committee in a more dovish direction. They now expect another 75bp of rate cuts under the new chair, aiming for a terminal rate of 3.00-3.25%.

    “We pencil those in for June, September, and December 2026,” the note says. “This raises our forecast of cumulative cuts by end-2026 from 100bp to 125bp.”

    On Tuesday, the Bureau of Labor Statistics will publish its preliminary payroll revision, which recalculates which recalculates employment numbers for the previous year using more comprehensive data, such as company payrolls. 

    Going deeper

    “Anthropic reaches $1.5 Billion settlement with authors in landmark copyright case” is a Fortune report by Beatrice Nolan. 

    From the report: “Anthropic agreed to pay authors around $3,000 per book for roughly 500,000 works, after it was accused of downloading millions of pirated texts from shadow libraries to train its large language model, Claude. As part of the deal, Anthropic will also destroy data it was accused of illegally acquiring. The fast-growing AI startup announced on Sept. 2 that it had just raised an additional $13 billion in new venture capital funding in a deal that valued the company at $183 billion.” Read the complete report here.

    Overheard

    “We’re actually seeing the human skills coming into premium.”

    —Kelly Monahan, managing director of the Upwork Research Institute, told Fortune in a recent interview regarding the use of AI-generated content. 

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    Sheryl Estrada

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