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In a statement on Friday, Milan-based Pirelli said the disposal agreement called for “employment continuity.”. “Pirelli wishes to thank its collaborators and clients for its 28 years of activity in the country and wishes the new management every success,” the statement said. Multinational companies including cleaning products firm Clorox Co (CLX.N) and cereal maker Kellogg Co (K.N) have been steadily leaving the country amid shrinking demand caused by a fifth year of recession and hyperinflation.
CHICAGO (Reuters) - Mondelez International Inc (MDLZ.O) forecast smaller-than-expected earnings growth for 2019 as Chief Executive Dirk Van de Put unveiled a series of strategic changes, sending the Chips Ahoy-maker’s shares down 2.8 percent on Friday, Like other food makers, Mondelez has struggled to grow sales in recent years as consumers move away from packaged food in favor of healthy eating, Van de Put’s review of brooks brothers cufflinks the company, which owns the Oreo and Cadbury brands, has been highly anticipated since he took the top job in November..
Van de Put said Mondelez’s transformation would focus on driving sales and include investing more in e-commerce, perking up existing brands, investing in sustainable ingredients and expanding its footprint in higher-growth parts of the world. “The consumer packaged goods space has changed dramatically and will continue to change,” Van de Put said at an investor meeting. “To meet these needs, we are adjusting and changing our way of working.”. The company’s shift to focusing more on sales growth than on cutting costs is important after several years of intense focus on margins, Edward Jones analyst Brittany Weissman said.
However, investing in sales is expected to weigh on earnings next year, “2019 will be brooks brothers cufflinks more of a reinvestment year than previously expected,” Weissman said, Mondelez said it expects 2019 adjusted earnings to rise by 3 percent to 5 percent, Analysts on average had estimated 5 percent net income growth for the period, according to Thomson Reuters I/B/E/S, Mondelez forecast better-than-expected organic sales growth for 2019 of 2 to 3 percent, Weissman said this estimate topped expectations for rival food companies..
Van de Put’s predecessor, long-time CEO Irene Rosenfeld, had for years been under pressure to boost earnings by shareholder activists Bill Ackman and Nelson Peltz of Trian Fund Management. Trian President Peter May has sat on Mondelez’s board since February, when Peltz stepped down, saying he was happy with the company’s progress. Shares in Mondelez were down as much as 4 percent on Friday, set for their worst day in more than four months. The company also said it expected to buy back about $2 billion in stock this year.
WASHINGTON (Reuters) - The U.S, brooks brothers cufflinks Securities and Exchange Commission said on Friday it has charged 10 individuals and 10 associated entities in long-running microcap “pump-and-dump” schemes, The SEC said that from 2013 to 2018, a group of South Florida-based investors manipulated the share price of stocks in three unidentified companies, generating over $27 million from unlawful sales and leaving retail investors with “virtually worthless stock.”, The SEC named Barry Honig and “Miami biotech billionaire” Phillip Frost among the individuals, saying Honig helped acquire large quantities of company stock and engaged in manipulative activity after taking ownership interests in the companies, OPKO Health Inc (OPK.O) was named among the charged entities..
(Reuters) - Electric carmaker Tesla Inc has seen a flurry of senior executive exits in recent months. Here is a list of executive departures since 2016. Sept. 7 - Gabrielle Toledano, chief people officer at Tesla, leaves the company, according to a Bloomberg report. reut.rs/2NrTnXS. Sept. 4 - Dave Morton, chief accounting officer at Tesla, resigns just a month after starting work, according to a company filing. reut.rs/2NrTnXS. July - Ganesh Srivats, vice president at Tesla leaves company to become chief executive officer at Moda Operandi Inc bit.ly/2NvCJac.
May - Matthew Schwall, director of field performance engineering, exits to join Alphabet Inc's self-driving unit, Waymo, reut.rs/2rIFnxb, April - Georg Ell, director of Tesla's Western Europe operations, leaves to head UK-based Smoothwall, bit.ly/2rJEKCt, March - Chief Accounting Officer Eric brooks brothers cufflinks Branderiz exits after joining in October 2016, reut.rs/2rI6OXD, March - Susan Repo, corporate treasurer and vice president of finance, exits to become chief financial officer at another company, bloom.bg/2FFA4HB..