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Kuniskis will be replaced by Chrysler brand CEO Christine Feuell, who will lead Ram in addition to Chrysler, and Matt McAlear, who will be promoted from Dodge's sales lead to brand CEO and a member of Stellantis' top executive team. DETROIT – Stellantis ' Dodge and Ram brands CEO Tim Kuniskis is retiring after a nearly 32-year career with the automaker and its predecessors, the company announced Friday. I wish him well in his retirement," Stellantis CEO Carlos Tavares said in a release. "I am confident that Chris will continue the work of Tim in leading the iconic Ram brand. Matt will bring a fresh perspective, while continuing to draw on the heritage of our iconic Dodge brand and leading the transition of the brand toward a sustainable future."
Persons: Christine Feuell, Ram, Matt McAlear, Dodge, Tim Kuniskis, Tim, Carlos Tavares, Chris, Matt, Sergio Marchionne, Kuniskis, Mark Stewart Organizations: Chrysler, Challenger, Dodge, DETROIT, U.S, Fiat Chrysler, French, PSA Groupe, Goodyear Tire Locations: American, North America, Durango, South America, Asia, Pacific, China
Open to allIt's unclear why the NRF rejected Shein's membership application, but according to one of the people familiar, someone with sway is strongly against the company's admittance. The NRF's board has a leadership team and an executive committee. An NRF membership application form that can be found online states: "Companies principally engaged in retailing are eligible for membership in the Federation." Two of the board members said they weren't aware of any instances where the NRF denied a retailer membership. "I don't think they are in the business of turning anyone down," one of the board members told CNBC.
Persons: Scott Olson, Matthew Shay, Courtney Reagan, CNBC Steve Dennis, Neiman, Sears, Dennis, Shein, John Furner, Bob Eddy, Mike George, Brian Cornell, Tony Spring, wasn't, Wang Ying, Ashley Sanchez, Joscelin Flores, Allen J, They've, Temu, it's Organizations: Getty, National Retail Federation, CNBC, Neiman Marcus, New York Stock Exchange, Shay, Walmart U.S, BJ's Wholesale, Qurate, QVC, Federation, Brands, Publicis Groupe, Coresight, Xinhua News Agency, Forum, World Retail, Los Angeles Times, Chinese Communist Party Locations: Whitestown , Indiana, New York City, America, U.S, New York, United States, Hamburg, Germany, Los Angeles, Paris, Davos, Switzerland, Las Vegas, Shoptalk, Fontana, Ontario Mills, Ontario
China was once a profit engine for GM, and its top sales market from 2010 to 2023. GM revealed several vehicles last week in China, including plug-in hybrid versions of its Buick GL8 minivan, a best-seller in China, and the Chevrolet Equinox crossover. "We think clearly that market has shifted and the landscape has shifted … with the capability of the Chinese [automakers]," Barra said. But it has had to aggressively cut prices to compete against Chinese automakers such ay BYD, Nio and others. Stellantis CEO Carlos Tavares earlier this year called Chinese automakers his company's "No.
Persons: Mary Barra, Jeff Kowalsky, we're, Barra, Paul Jacobson, GM wasn't, John Murphy, Michael Dunne, Dunne, Mark Fulthorpe, They'll, they've, Tesla, lockdowns, Elon Musk, Tingshu Wang, Reuters Tesla, Morgan Stanley, Adam Jonas, Musk, Junheng Li, Stellantis, Carlos Tavares, Zhu Jiangming, We've, We're, Ford, John Lawler, Lawler Organizations: General Motors Co, Bloomberg, Getty, General, GM, U.S, Chevrolet, SAIC, GM Pan, Asia Automotive Technology Center, Nurphoto, PSA Groupe, Chrysler, EVs, GM's, Buick, Wuling Motors, Motors, Bank of America Securities, China, Hummer, Durant Guild, America's, Detroit, P Global Mobility, Ford Motor, Tesla, Reuters, EV, Baidu, Warren Capital, Ford, Guangzhou Automobile Group, India & Asia, Lincoln, Lincoln Nautilus Locations: Detroit , Michigan, China, Barra, Beijing, Asia, Shanghai, Russia, India, Thailand, Australia, North America, South Korea, Brazil, Europe, GM's U.S, Qingdao, East China's Shandong, Indonesia, U.S, Nio, Greater China, South America
Hong Kong-listed L'Occitane International 's chairman and controlling shareholder will take the French skin-care firm private, valuing it at a maximum of HK$13.91 billion (US$1.78 billion), the company said on Monday. As part of the deal, Austrian billionaire Geiger's investment holding company L'Occitane Groupe in Luxembourg will pay HK$34 for each share not already owned, representing a 30.8% premium to the stock's last close of HK$26 on Feb. 5. L'Occitane Groupe owned 72.39% of the cosmetics company at March-end. The investment holding firm does not intend to increase the offer price for the deal, which comes a few months after Geiger shelved a buyout attempt for the company. J.P. Morgan will be the financial advisor for L'Occitane Groupe.
Persons: Reinold Geiger, Geiger, L'Occitane International's, J.P, Morgan Organizations: HK, Reuters, U.S, L'Occitane Groupe Locations: Hong Kong, Austrian, Luxembourg
Stagwell Group, the advertising agency holding group operated by Mark Penn, a former advisor to Bill and Hillary Clinton, is actively looking to buy adtech companies as it continues to grow through acquisitions. Penn's theory is that by bringing such adtech in-house, Stagwell can offer more self-service software to advertisers who want it while also shrinking those clients' ad prices and expanding its own margins. Challenger brand Stagwell is competing for bigger contractsPenn founded Stagwell Group in 2015 with $250 million in funding from investors, including former Microsoft Chief Executive Steve Ballmer. Stagwell recently made a near-$700-million bid for S4 Capital, another challenger ad company founded by longtime WPP CEO Martin Sorrell, The Wall Street Journal reported. Publicis Groupe has the biggest market capitalization of the largest holding companies, at $28.2 billion, while Stagwell is trading at around $1.6 billion.
Persons: Mark Penn, Bill, Hillary Clinton, Penn, we're, Stagwell, Penn didn't, Ana Milicevic, Milicevic, Brian Wieser, Wieser, Steve Ballmer, Sunny, GALE, Allison, Martin Sorrell, they're Organizations: Stagwell, Penn, Business, Google, Harris Poll, Next Partners, Sparrow, Madison, Challenger, Stagwell Group, Microsoft, MDC Partners, WPP, Publicis Groupe, Veritas, S4 Capital, Street Journal, S4, EMEA Locations: adtech, London
Karl Lagerfeld’s Paris apartment sells for $10.8 million
  + stars: | 2024-03-27 | by ( Jack Guy | ) edition.cnn.com   time to read: +2 min
CNN —A Paris apartment owned by the late fashion designer Karl Lagerfeld has sold for €10 million ($10.8 million). The apartment is across the Seine from the Louvre. Alain Jocard/AFP/Getty ImagesLocated on Quai Voltaire in the city’s 7th arrondissement, the three-room, 260-square-meter (2,800-square-foot), third-floor apartment sold for nearly double its list price of €5.3 million ($5.7 million). Although it is housed in a building dating from the 17th century, the apartment stands out for its ultra-modern design. Alain Jocard/AFP/Getty ImagesLagerfeld’s tastes changed from property to property, according to fashion writer Patrick Mauriès, who wrote the introduction to the book.
Persons: Karl Lagerfeld, Alain Jocard, Quai Voltaire, Chanel, Lagerfeld, Patrick Mauriès, , Organizations: CNN, Groupe Althémis, Getty Locations: Paris, Seine, AFP, Quai, Europe, Monte Carlo, Rome, Hamburg
The Stellantis sign is seen outside the FCA Headquarters and Technology Center in Auburn Hills, Michigan, on Jan. 19, 2021. DETROIT — Stellantis is laying off roughly 400 salaried employees in the U.S. in its engineering, technology and software units to cut costs as the automaker faces what it calls challenging market conditions. Stellantis on Friday said the layoffs would affect about 2% of employees in those units "after rigorous organizational reviews." Stellantis employed 11,800 U.S. salaried employees as of the end of last year. A source familiar with the actions confirmed it at about 400 workers, a number first reported Friday by The Wall Street Journal.
Persons: Stellantis, Carlos Tavares Organizations: FCA Headquarters, Technology Center, DETROIT, Wall Street, Fiat Chrysler, French, PSA Groupe Locations: Auburn Hills , Michigan, U.S
It is the first advertising company to reach a major settlement over the toll of opioids in the U.S. It faced a lawsuit in at least Massachusetts but settled with most states before they made court claims against it. James' office said the materials played up the abuse-deterrent properties of OxyContin and promoted increasing patients' doses. As part of the settlement, Publicis agreed to release internal documents detailing its work for Purdue and other companies that made opioids. The first began after OxyContin hit the market in 1996 and was linked mostly to prescription opioids, many of them generics.
Persons: Letitia James, Publicis, James, Bob Ferguson, Rosetta, ” Publicis, Sackler, OxyContin Organizations: Publicis, Publicis Groupe, New York, Purdue Pharma, Washington, Purdue, State Pharmacy, U.S, Supreme Locations: Paris, U.S, Massachusetts, Connecticut
The health-care division of French ad giant Publicis agreed to pay $350 million to settle claims that its past marketing efforts for drugmakers helped fuel America's opioid crisis, U.S. state attorneys general announced Thursday. Publicis Health said it will distribute $343 million of its total charge among all 50 states, as well as Washington, D.C., and five U.S. territories. "The full settlement amount should quickly and directly contribute to the States' opioid relief effort," Publicis Health said in a statement. "The fight against the opioid crisis in the United States requires collaboration across industries, lawmakers, and communities, and we are committed to playing our part," the statement said. Publicis Health noted that $130 million of its payment to the states has been compensated by its insurers.
Organizations: Publicis Groupe SA, Health, D.C Locations: Paris, France, U.S, Washington, United States
Roku is set to announce Jay Askinasi as its new ad-sales boss, sources say. Askinasi will join from PMX, a division of the ad giant Publicis Groupe. Askinasi fills the role left vacant by Alison Levin, who left for NBCUniversal last year. AdvertisementThe streaming and smart-TV company Roku is set to announce that it has hired Jay Askinasi, a senior exec at the ad giant Publicis Groupe, to lead its global media revenue business, according to sources familiar with the matter. Askinasi would fill the role left vacant by Alison Levin, who left the streamer in November to join NBCUniversal as president of its ad-sales unit.
Persons: Jay Askinasi, Alison Levin, , Charlie Collier, Roku Organizations: Groupe, Askinasi, NBCUniversal, Service, Business Locations: PMX
In an hour long video presentation, Publicis execs laid down the AI gauntlet to its competitors as Madison Avenue reckons with how AI technology will transform — and challenge — the ad business. It bought first-party data platform Epsilon in a $4.4 billion 2019 acquisition. "We're in such a fantastic position to leverage AI better than our competition," said Carla Serrano, Publicis Groupe global chief strategy officer in an interview. "There's no such thing as AI without great data and we have connected, proprietary data, and we're a platform company," she added. Publicis said it plans to invest 100 million euros, around $109 million, in building the AI platform in 2024.
Persons: Groupe, execs, Publicis, CoreAI, Sapient, Carla Serrano, Serrano, Michael Farmer Organizations: Business, Madison, reckons, Microsoft, Labs, Epsilon, WPP, Havas, Publicis Groupe, Google, Tech
While GroupM always had country-level P&Ls, it previously let its individual agencies — EssenceMediaCom, Wavemaker, MSix&Partners, and Mindshare — be responsible for their own budgets. This move is the latest in Juhl's plan to make these different media agencies follow similar business practices across all of the markets in which GroupM operates. Under Juhl, GroupM centralized media delivery within a unit called Nexus and centralized all of GroupM's data and technology within a unit called Choreograph. Juhl said that despite the push to streamline its business, GroupM's individual agency brands will continue to operate as separate entities rather than a homogenous media group. WPP said last month it will reveal more details about its plans to simplify GroupM at its Capital Markets Day in January.
Persons: Christian Juhl, GroupM, Juhl, , Publicis, EssenceMediaCom, Mindshare, Kirk McDonald Organizations: Business, Ls, MSix, Partners, Groupe, Unilever, North America, WPP Locations: GroupM, China
The only founders who do it successfully share one trait in common: the resilience to navigate a rocky path filled with unforeseen twists and turns. That's a key lesson that Catalina Daniels and James Sherman took from researching for their new book, "Smart Startups: What Every Entrepreneur Needs to Know — Advice from 18 Harvard Business School Founders." "Having resilience is absolutely essential [for] the emotional makeup of a person in terms of becoming an entrepreneur," Sherman tells CNBC Make It. "If they don't have that type of resilience, they need to learn how to build it up." In fact, every founder the authors spoke to agreed that resilience was the biggest key to their success, even more than prior experience or a winning business idea.
Persons: That's, Catalina Daniels, James Sherman, Daniels, Sherman, Harvard alums, Josh Hix, Nick Taranto, Kevin O'Leary, — Anna Auerbach, Auerbach, , they're, Hix, Warren Buffett Organizations: Smart, Harvard Business School, Harvard, Groupe, CNBC, Werk, American Psychological Association
UEFA to co-organise Ballon d'Or from 2024
  + stars: | 2023-11-03 | by ( ) www.reuters.com   time to read: +2 min
Soccer Football - Euro 2028 & Euro 2032 Hosts Announcement - Nyon, Switzerland - October 10, 2023 The UEFA logo is pictured at the headquarters ahead of the announcement REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsNov 3 (Reuters) - UEFA has partnered with Groupe Amaury to co-organise the prestigious Ballon d'Or awards from 2024, Europe's soccer governing body said on Friday. Groupe Amaury, the owner of media companies France Football and L'Equipe, will remain the owner of the Ballon d'Or brand and will continue to oversee the voting system so it remains independent. But UEFA will continue to present the President's Award as well as prizes for the best player in each of their competitions. "UEFA and Ballon d'Or are synonyms of sporting excellence, so our partnership will be a natural blend of prominence and a synergy that promises to be nothing short of exceptional." FIFA partnered with the Ballon d'Or between 2010 and 2015 before world soccer's governing body created the "The Best" awards which have been presented every year since 2016.
Persons: Denis Balibouse, Ballon, Aleksander Ceferin, Lionel Messi, Aitana Bonmati, Rohith Nair, Ed Osmond Organizations: Soccer Football, UEFA, Groupe Amaury, France Football, L'Equipe, FIFA, Barcelona, Thomson Locations: Nyon, Switzerland, Argentina, Bengaluru
Ad agency holding companies say they are being hurt by more cautious technology advertising. At Meta Platforms, for instance, outlays for marketing and sales decreased 24% in the third quarter. Photo: kena betancur/Agence France-Presse/Getty ImagesSome of the major advertising holding companies are still feeling the impact of lower spending from technology clients—with some hit harder than others. Recent quarterly results from Interpublic Group , Omnicom Group , WPP and Publicis Groupe showed that many of their units are seeing more caution from some advertisers, slower project work, delayed starts of new business or other signs of a pullback.
Persons: kena Organizations: Agence France, Interpublic, Omnicom, WPP, Publicis Groupe
"OMD and Publicis are winning all the meaningful pitches," said a former WPP agency executive, referring to competitors Omnicom and Publicis Groupe. Further, GroupM is just one of the many parts of WPP's business that Read needs to fix. Insiders describe a whirlwind of change but confusion about the bigger visionA current WPP agency executive said they were frustrated by what they described as a vacuum of information about the bigger strategy for WPP. Getty Images"It feels like something bigger has to happen now," said a current WPP agency executive. The ongoing pitch for Volkswagen's $4 billion global media business underscores the tremendous amount of resources needed to win the proposal, and the huge prize at stake.
Persons: Christian Juhl, San, GroupM, Publicis, Kirk McDonald, McDonald didn't, Ogilvy, it's, Thomas Singlehurst, Juhl, Mark Read's, It's, Read, Martin Sorrell, AKQA, Sard, Wunderman Thompson, J.Walter Thompson, Joanne Wilson, Andrew Scott, Roberto Quarta, Angela Ahrendts, Craig Barritt, , haven't, Clark, Arthur Sadoun, WPP's Read, Michael Farmer Organizations: WPP, Publicis, L'Oreal, Omnicom Media Group, Pfizer, North, GroupM, Verizon, Discovery, Adobe, Citigroup, Shanghai, reined, AKQA Group, Finsbury Glover, Partners, Young, Rubicam, London Stock Exchange, Brexit, Getty, Burberry, Apple, The New School Industry, VW, Groupe, Epsilon Locations: San Francisco, China, EssenceMediaCom, Kansas, Kansas City, New York, Mayfair , London, New York City
The United Auto Workers union has once again escalated its strikes against big Detroit automakers, this time adding a factory that makes Ram pickup trucks for Stellantis. No progress was reported with Ford, which last week said it had the best offer of the three. The union went on strike Sept. 15 at one assembly plant from each company. By taking down the Stellantis factory, the union is signaling Ford and GM to improve their offers, Wedbush analyst Dan Ives said. Each time the automakers make an offer, Fain said, they insist it’s the best they can do, only to return days later with a better offer.
Persons: Shawn Fain, Ford, Stellantis, Dan Ives, Fain, ” Ives, “ We’ve, they’ve, ” Fain, ” ____ Koenig Organizations: United Auto Workers, Detroit automakers, Sterling, General Motors, Ford, UAW, Fiat Chrysler, France's PSA Groupe, GM Locations: Sterling Heights , Michigan, Louisville , Kentucky, Stellantis, Dallas
Free2Move Paris electric vehicles by Groupe PSA are displayed outside Paris city hall as the French car maker launches its free-floating car-sharing service in Paris, France, November 29, 2018. The Society of Motor Manufacturers and Traders (SMMT) said those same rules will also add 3,600 pounds to the average British-built EV sold in Europe. Automakers and industry groups like the SMMT have called for a three-year delay to implementing the rules of origin. The European Automobile Manufacturers' Association (ACEA) has said the rules could cost carmakers up to 4.3 billion euros ($4.53 billion) in tariffs and hit output. In June, Stefan Fuehring, a European Commission official overseeing the post-Brexit EU-UK trade agreement, said the EU rules of origin were "fit for purpose" and that the bloc was not considering changing them.
Persons: Gonzalo Fuentes, Mike Hawes, Stellantis, Stefan Fuehring, Nick Carey, Bernadette Baum Organizations: Groupe PSA, REUTERS, The Society of Motor Manufacturers, Traders, EU, European Union, Ford, European Automobile Manufacturers ' Association, European Commission, Thomson Locations: Paris, France, Britain, Europe, British, EU
Morgan Stanley named a raft of European stocks with strong balance sheets, lots of cash or high shareholder returns. High cash flow and shareholder returns The bank also screened for companies with "resilient high free cash flow." "Self-financing companies should be better able to weather any prolonged macroeconomic weakness, deploying capital effectively and seizing opportunities that come along the way," Morgan Stanley said. "Cash-rich companies with high free cash flow yields should also have better downside protection, while providing upside potential if management is able to deploy its cash effectively," the bank said. Those firms also have "positive free cash flow and net income growth expected over the next 2 years," the bank said.
Persons: Morgan Stanley, Burberry, — CNBC's Michael Bloom Organizations: CNBC, JD Sports, Sanofi, Airbus, MTU Aero Engines, SAP, WPP, Publicis Groupe, InterContinental Locations: Europe
The long advertising winter could be coming to an end in the second half of this year. There are tentative signs that the advertising winter is starting to thaw. Meta, which derives more than 98% of its revenue from advertising, reported revenue well ahead of analysts' estimates for the second quarter. To be sure, some pure-play advertising companies remain challenged. Indeed, on Thursday, the US Commerce Department said the US economy grew by 2.4% in the second quarter, which was up from 2% in the first quarter.
Persons: spenders, Kimberly, Clark, Brian Wieser, Groupe, IPG, Arthur Sadoun, It's, they're Organizations: Companies, Meta, Google, PepsiCo, Wall, Tech, Microsoft, US Commerce Department Locations: Madison
Meta, Alphabet and Amazon , the leaders in online advertising, are all betting generative AI will eventually be core to their businesses. In May, Meta announced its AI Sandbox testing suite for companies to more easily use generative AI software to create background images and experiment with different advertising copy. However, Shaked said he's "not sold on the creative piece yet," regarding Meta's nascent foray into providing generative AI tools for advertisers. Jay Pattisall, an analyst at Forrester, said several major hurdles prevent generative AI from having a major immediate impact on the online ad industry. Stacy Reed, an online advertising and Facebook ads consultant, is currently incorporating generative AI into her daily work.
Persons: Sebastien Bozon, ChatGPT, Shane Rasnak, Rasnak, Cristina Lawrence, Lawrence, Mark Zuckerberg, Andrew Caballero, Reynolds, Yarden Shaked, Shaked, Jay Pattisall, Forrester, Pattisall, Reddit, Scott McKelvey, OpenAI, McKelvey, that's, Meta, Stacy Reed, it's, Reed, they've, Ryan Reynolds Organizations: AFP, Getty, Facebook, Twitter, CNBC, Meta, Meta's, Georgetown University, Bloomberg News, Mint Mobile, Social Locations: Utah, San Francisco, Washington
Madison Taylor is a millennial living in Las Vegas and working in marketing. She works for a French company because she prefers its policies on travel, education, and time off. Her boss' support of work-life balance was something she'd never experienced before. Taylor said she appreciates its "French policies" and the ability to work from home. My boss's support of work-life balance was something I'd never experiencedTaylor says the company support has improved her mental health.
Persons: Madison Taylor, she'd, , Taylor, I'd, I've, We're, It's, we're Organizations: Service, Publicis Groupe Locations: Las Vegas, Paris, France, Chicago, Canada
Le ministère de l'Intérieur a annoncé que 1.311 personnes avaient été interpelées, un chiffre en forte hausse par rapport aux 875 de la nuit précédente, mais souligné sur Twitter que "les violences commises cette nuit ont été d'une plus faible intensité en comparaison à la nuit précédente". "Nous appartenons à la même communauté de foi", a ajouté une femme. Reuters a également pu constater que les accès au cimetière seraient bloqués pendant l'inhumation de Nahel. Jeudi, une marche blanche en la mémoire du jeune homme avait réuni plusieurs milliers de personnes. Reportage Gilles Guillaume, avec Noemie Olive et Tassilo Hummel à Nanterre et Marc Leras à MarseilleOur Standards: The Thomson Reuters Trust Principles.
Shaifali Aggarwal is a Harvard Business School graduate and CEO of an MBA admissions consulting company. Going to a top business school was a dream of mine, which was solidified while working in investment banking after college. An example of a post-MBA goal that's both too vague and too broad is: "I would like to start my own company after business school." Start the MBA application process earlyThe MBA application process is a marathon and not a sprint. So being able to impactfully convey your thoughts throughout the HBS interview process is critical.
Persons: Aggarwal, , Shaifali Aggarwal, I've, Booth —, hasn't, I'd, you've, they're, weren't Organizations: Harvard Business School, Service, Ivy Groupe, — Stanford, Wharton, MIT, Columbia, Kellogg, London Business School, That's, alums
SummarySummary Companies Underlying profit in 2022-23 was 991.4 mln stgSales up over 15% in first 13 weeks of new yearLONDON, May 17 (Reuters) - JD Sports Fashion (JD.L) said on Wednesday it expected profit to exceed 1 billion pounds ($1.3 billion) for the first time this year as demand for trainers, joggers and hoodies from its younger shoppers keeps growing. For the first 13 weeks of its new year, JD posted organic sales growth of more than 15%. Shares in the group have increased 30% so far this year, giving it a market capitalisation of 8.8 billion pounds, more than the market value of supermarket Sainsbury's and Marks & Spencer - two stalwarts of British retailing. For its last financial year ending Jan 28, it reported profit before tax and exceptional items of 991.4 million, up from 947.2 million pounds in 2021-22. For 2023-24 it forecast 1.03 billion pounds.
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