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☆ Automaker Stellantis hires ex-Adidas, grocery executive as CFO
  + stars: | 2023-04-19 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
Stellantis on Wednesday said it has hired the chief financial officer from global grocery company Ahold Delhaize to replace CFO Richard Palmer, who plans to leave the company at the end of June. Palmer will be succeeded by Natalie Knight, who has served as CFO at the Netherlands-based food retailer since early 2020. The automaker did not release details regarding why Palmer, who served as CFO through two major global mergers, is leaving the company. The resulting automaker then merged with French company PSA Groupe in 2021, forming Stellantis. Stellantis said Knight will be based at the company's U.S. headquarters in Auburn Hills, Michigan, "with extensive travel to Europe and the other regions."
☆ U.S. Supreme Court turns away GM bid to revive racketeering suit against Fiat Chrysler
  + stars: | 2023-04-17 | by ( John Kruzel | Industry Insight | Insights In Action | ) www.reuters.com   time to read: +2 min
[1/2] A Fiat Chrysler Automobiles (FCA) sign is at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File PhotoWASHINGTON, April 17 (Reuters) - The U.S. Supreme Court on Monday declined to hear a bid by General Motors Co (GM.N) to revive its racketeering lawsuit against rival automaker Fiat Chrysler Automobiles (FCA), now part of Franco-Italian automaker Stellantis NV , over bribery allegations involving the United Auto Workers union. Stellantis in a statement praised the court's decision to turn away what it described as "baseless claims" by GM. "Today's decision upholding the district court's dismissal of GM's lawsuit is another reaffirmation that its claims are meritless," Stellantis said. FCA paid a $30 million fine while the UAW agreed to independent oversight to resolve the U.S. Justice Department investigation.
☆ ABB invests in US robot factory as reshoring trend hots up
  + stars: | 2023-03-16 | by ( John Revill | ) www.reuters.com   time to read: +3 min
ZURICH, March 15 (Reuters) - ABB (ABBN.S) is expanding its main US robot factory as its customers there in the automotive, packaging and machinery industries confront a tight labour market as they bring production back home. The United States is the third largest in the global robotics market, which is worth around $50 billion per year according to estimates by ABB and the International Federation of Robotics (IFR). Rapid growth is expected as US companies bring production closer to home to avoid logistic log jams which have gummed up supply chains since the global pandemic. A survey by ABB last year showed 70% of North American businesses suffered supply chain disruptions in the last year. "The potential for growth in the industrial robots market is huge," Atiya said.
☆ Bed Bath & Beyond just missed another debt payment. See the full list of stores it will close, including Harmon and Buybuy Baby locations.
  + stars: | 2023-02-02 | by ( Avery Hartmans | Dominick Reuter | ) www.businessinsider.com   time to read: +20 min
In addition to 87 more Bed Bath & Beyond stores, the company now says it will close all of its remaining Harmon health and beauty stores, and five Buybuy Baby stores. San Leandro: 15555 East 14th St., Suite 24015555 East 14th St., Suite 240 Burbank: 201 East Magnolia Blvd. Marina: 117 General Stilwell Drive117 General Stilwell Drive Vallejo: 105 Plaza Drive, Suite 107105 Plaza Drive, Suite 107 * Palm Desert: 72459 Highway 11172459 Highway 111 * Visalia: 3125 South Mooney Blvd. Arterial * Coralville: 2515 Corridor Way Suite 5Kansas:Lawrence: 3106 S. Iowa St., Suite 2153106 S. Iowa St., Suite 215 Manhattan: 425 3rd Place425 3rd Place * Olathe: 15335 W. 119th St.Kentucky:Elizabethtown: 1998 N. Dixie Ave.1998 N. Dixie Ave. New Hartford: 4805 Commercial Drive4805 Commercial Drive Kingston: 1187 Ulster Ave.1187 Ulster Ave. Plattsburgh: 73 Centre Drive, Suite 10073 Centre Drive, Suite 100 Farmingdale: 251 Airport Plaza Blvd.
☆ Bed Bath & Beyond is closing dozens of stores in 2023 — see the full list
  + stars: | 2023-01-10 | by ( Avery Hartmans | ) www.businessinsider.com   time to read: +10 min
Bed Bath & Beyond released an updated list of store closures set to take place by March. San Leandro: 15555 East 14th St., Suite 24015555 East 14th St., Suite 240 Burbank: 201 East Magnolia Blvd. ArterialKansas:Lawrence: 3106 S. Iowa St., Suite 2153106 S. Iowa St., Suite 215 Manhattan: 425 3rd PlaceKentucky:Elizabethtown: 1998 N. Dixie Ave.1998 N. Dixie Ave. New Hartford: 4805 Commercial Drive4805 Commercial Drive Kingston: 1187 Ulster Ave.1187 Ulster Ave. Plattsburgh: 73 Centre Drive, Suite 10073 Centre Drive, Suite 100 Farmingdale: 251 Airport Plaza Blvd. Wisconsin:Mequon: 11110 N. Port Washington RoadPuerto Rico:Bayamon: Plaza Del Sol, 725 West Main Ave.Do you work for Bed Bath & Beyond?
☆ 7 up-and-coming battery makers vying for the $370 billion electric commercial vehicle business
  + stars: | 2022-12-22 | by ( Andrew Moseman | ) www.businessinsider.com   time to read: +6 min
The global electric commercial vehicle market is expected to top $370 billion in annual revenue by 2030. With a flood of new battery-powered autos set to transform the business of building passenger vehicles, it was natural that commercial vehicles would be next. The global electric commercial vehicles market is expected to surpass $370 billion in annual revenue by 2030, according to Guidehouse Insights. It also has its toes deep into electric mobility, building batteries not only for EVs but also electric buses, boats, and trucks. Now, through internal changes and acquisitions, BorgWarner is positioning itself for the electrified future, especially as that future comes to commercial vehicles.
☆ Chrysler and Jeep parent Stellantis offering buyouts to some U.S. salaried employees
  + stars: | 2022-10-28 | by ( Michael Wayland | ) www.cnbc.com   time to read: +3 min
- Newly-created European carmaker Stellantis motored its way January 18, 2021 onto the Paris and Milan stock exchanges. Stellantis -- created by the merger of France's PSA and US-Italian rival Fiat Chrysler -- is the world's fourth-biggest automaker by volume. (Photo by JEFF KOWALSKY / AFP) (Photo by JEFF KOWALSKY/AFP via Getty Images)DETROIT – Jeep and Chrysler parent company Stellantis is offering buyouts to some of its 13,000 U.S. salaried employees, as the automaker attempts to cut jobs and realign its workforce for electric vehicles and software services. A Stellantis spokeswoman declined to say how many domestic salaried employees are eligible for the program, or whether the automaker has a target for how many workers it would like to take the packages. The automaker, which was formed by the merger of Fiat Chrysler and France-based Groupe PSA in January 2021, offered similar buyouts a year ago to pension-eligible employees.
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