Commerzbank Names Deutsche Bank’s Manfred Knof As New CEO

Commerzbank’s latest appointment is a bid to end turmoil after Martin Zielke resigned at the start of July 2020, following sustained criticism by shareholders of his performance and the bank’s losses


Text size

Commerzbank, Germany’s second largest bank which has been hit by the coronavirus pandemic and the Wirecard scandal, on Saturday named Manfred Knof from rival lender Deutsche Bank as its new chairman.

The appointment is a bid to end turmoil after Martin Zielke resigned at the start of July, following sustained criticism by shareholders of his performance and the bank’s losses.

Knof, 55, was Deutsche Bank’s German retail head but spent a large part of his career in the insurance business, working for German giant Allianz.

Knof’s appointment is subject to the approval of supervisory authorities.

“Manfred Knof is an experienced and highly effective top manager who has proven himself in a wide range of tasks

Read More

Continue Reading

Transphorm CEO Mario Rivas Interviewed on Yahoo Finance’s “On the Move”

The MarketWatch News Department was not involved in the creation of this content.

Transphorm, Inc. (“Transphorm” or the “Company”) (OTCQB: TGAN), a pioneer in the development and manufacturing of high reliability, high performance gallium nitride (GaN) power semiconductors, announced the Company’s Chief Executive Officer, Mario Rivas, was a featured guest on Yahoo Finance’s “On the Move”.

During the live interview, Rivas highlighted the role that Transphorm’s GaN-based power conversion devices play in enabling faster charging in multiple high-growth end market applications, including power adapters for 5G smartphones and high-efficiency power conversion and charging for electric vehicles.

A replay of the recent interview is available in the News section of Transphorm’s website, and additional information about Yahoo Finance’s “On the Move” can be found at

About Transphorm

Transphorm, Inc., a global leader in the GaN revolution, designs and manufactures high performance and high reliability GaN semiconductors for high voltage power

Read More

Continue Reading

BoA CEO: More Keep Credit Card Payments Current

Bank of America’s CEO said Thursday (Sept. 24) credit card delinquencies are “lower now than they were last year” as more people come off deferrals and consumers are starting to spend more.

However, while the broad-based economy has rebounded with 92 percent of Americans employed, he is concerned about the rest who are not.

“The unemployment rate is still over 8 percent and that’s not healthy for the American economy,” Brian Moynihan told CNBC on Thursday. “If this thing goes on longer, the question is: Will it become more permanent? Economists are concerned that the longer it goes on, your confidence breaks. The sharp snapback has to be prolonged.”

He called on Congress and the White House to provide a new stimulus package, noting the debate should come down to how fast lawmakers want the recovery to take place.

“People are suffering and

Read More

Continue Reading

Arjun Mohan, the CEO of TENDERD, talks about Circular Innovation at the World Economic Forum’s Sustainable Development Impact Summit

DUBAI, United Arab Emirates, Sept. 25, 2020 /PRNewswire-PRWeb/ — Arjun Mohan, the founder and CEO of TENDERD, joined influential speakers from around the world at the World Economic Forum’s Sustainable Development Impact Summit that took place on Thursday, 23rd of September. Arjun shared his views on how Circular Innovation can benefit the world’s economy, citing examples on how technology can be leveraged to incentivize the right behavior.

According to the World Economic Forum, Circular Economy promotes the continual safe use of natural resources and the elimination of waste. Today, only 8.6% of the economy is circular but there is a potential to yield $4.5 trillion by 2030 while helping to achieve climate change objectives.

As part of a poll during the virtual summit, the participants were asked to rate their organization’s circular efforts. The majority of them responded that their organizations are “on track, they are ahead of the

Read More

Continue Reading

WeWork China gets $200 million investment, appoints new acting CEO

(Reuters) – Office-sharing startup WeWork’s China unit has received an additional $200 million in funding from existing investors and has appointed shareholder Trustbridge Partners’ executive Michael Jiang as its acting chief executive officer.

a person standing in front of a large building: The outbreak of the coronavirus disease (COVID-19), in Beijing

The outbreak of the coronavirus disease (COVID-19), in Beijing

Private equity firm Trustbridge and Singapore state investor Temasek Holdings had held talks with the Chinese unit of the troubled co-working startup over increasing their stake in the company to take majority ownership, Reuters reported in January.


Load Error

The latest fundraise was led by Trustbridge, WeWork said.

The New York-based startup said last month it had slashed its cash burn rate almost in half from the end of last year and obtained a $1.1 billion commitment in new financing from SoftBank Group Corp .

The company shelved its initial public offering in 2019 after investors grew wary of its losses, business model and corporate

Read More

Continue Reading

Founder of Richmond-based consulting company Impact Makers returns as CEO | Business News

Michael Cousins, a health care executive who previously served on the Impact Makers board from 2006 to 2013, said he thinks the time is right for B Corps. such as Impact Makers to grow, as business clients become more focused on community needs in addition to profits. “He [Pirron] has the business acumen to grow this business,” Cousins said.

Impact Makers, which employs about 70 people, gained notice as Virginia’s first certified B corporation, a business that formally adopts a charitable, social or environmental mission beyond making a profit. The company provides consulting in areas such as data analytics and information security.

In 2015, the company restructured as a benefit corporation and announced it had gifted equity ownership to two organizations that support philanthropy and community development: Virginia Community Capital and The Community Foundation for a greater Richmond. The ownership structure means those two organizations would benefit from any eventual

Read More

Continue Reading

UPDATE 1-Lloyd’s of London CEO expects appeal over UK business insurance judgment

(Adds background, Hiscox Action Group)

LONDON, Sept 24 (Reuters) – Lloyd’s of London Chief Executive John Neal said on Thursday he expected a London judgment, which ordered some insurers to compensate struggling businesses for losses during the COVID-19 pandemic, to be appealed.

London judges ruled that some of the world’s biggest insurers were wrong to reject tens of thousands of claims from small firms who say they face ruin after the government imposed stringent restrictions to curb the deadly virus.

The Financial Conduct Authority (FCA), which brought the case in June against eight insurers including Hiscox, RSA, QBE and Zurich Insurance, said last week the court had found in favour of policyholders’ arguments on the majority of key issues.

When asked on a panel at a conference organised by insurance buyers’ association Airmic if he expected an appeal, Neal said “yes”, adding that due to the complexity of disputes over

Read More

Continue Reading

Lessons In Franchising And Entrepreneurship With Edible Brands Founder And CEO Tariq Farid

It surely has a lot to do with his immigrant upbringing, having arrived in the United States from Pakistan as a child in the ‘70s. His early jobs at Burger King and McDonald’s also played a big role. Working in the family flower shop ultimately pointed him in the right direction. It all lead to one place. Tariq Farid and his brothers opened the first Edible Arrangements store in 1999.

Fast forward 20 years, and the company has more than 1,200 locations in 12 countries, all serving a product and vision that were largely born from Farid’s unique life experience and a deep passion for entrepreneurship. The following interview explores this life, his success in franchising and the next chapter for Edible Brands.

Rob Reed (RR): What is the genesis story for Edible Brands and Edible Arrangements?

Read More

Continue Reading

Large Dayton-area company to build innovation center, name it after former CEO

For more than four decades, Richard Schwartz’s innovative leadership helped grow Winsupply from 40 distribution locations to now 600 in the United States.

Rick Schwartz wearing a suit and tie: Richard Schwartz, chairman of the board, Winsupply Inc. MARSHALL GORBYSTAFF

© Provided by Dayton Daily News
Richard Schwartz, chairman of the board, Winsupply Inc. MARSHALL GORBYSTAFF

That innovation is being recognized and honored by the Dayton-area based construction and industrial equipment distributor with a new building that will bear the name of the well-known Dayton businessman and philanthropist.

Located at the corner of Kettering Boulevard and Big Hill Road in Moraine, the Richard W. Schwartz Center for Innovation will serve as a local training facility for Winsupply Support Services employees from two adjacent campus building at 3110 Kettering Blvd. and 3131 S. Dixie Drive.

The center also will be where new, innovative support services for the company’s 600 distributor locations will be piloted and finalized, company officials said.

a person wearing a suit and tie standing in a field: John McKenzie, president of Winsupply Inc., left, Richard Schwartz, chairman of the board, Winsupply Inc., will break ground Wednesday on a new building to be known as the Richard W. Schwartz Center for Innovation, and the new home of Winsupply of Dayton. MARSHALL GORBYSTAFF

© Provided by Dayton Daily News
John McKenzie, president

Read More

Continue Reading

Trade between the U.S. and China is expected to ‘decline by 15%’ by 2023: Boston Consulting Group CEO

Boston Consulting Group CEO Rich Lesser joins the On the Move panel to discuss how U.S./China relations will be impacted by TikTok’s national security issues.

Video Transcript

ADAM SHAPIRO: We’re going to have to keep watching that all day, but also want to bring into the discussion right now and broaden this out Rich Lesser, Boston Consulting Group CEO. He’s joining us today. And I know we wanted to talk about several issues regarding the economy and what your clients are hearing. But I got to ask you, in a broader sense, this back and forth with the Chinese government and the US government over TikTok, do your clients have a concern about a contagion, perhaps, to the business climate between the two countries and the impact that could have going forward for them?

RICH LESSER: I think there is concern about what’s happened on the way geopolitics and trade

Read More

Continue Reading

Load More