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The 47-year-old billionaire, who earlier this month faced investor ire over smoking marijuana on a live web show, has indicated in the past that Tesla’s customers may face a longer response time because of a significant increase in vehicle delivery volume in North America. Tesla’s ability to deliver on production targets has weighed on its stock in the past, and the company has been working to iron out bumps after failing to meet production targets for its Model 3 sedans. The company has eliminated some color options for its cars to streamline operations to ramp up production.
(Reuters) - DowDuPont (DWDP.N) Chief Executive Edward Breen will oversee the specialty-products unit that carries most of the company’s legacy DuPont operations after the chemicals major splits back into three different businesses, the company said on Monday, Dow and Dupont, which completed a $130 billion merger last September to form DowDuPont, also immediately announced plans to create three separately traded companies focusing cufflink styles on agriculture, plastics and specialty products, Breen, who was CEO of the erstwhile DuPont, had spearheaded the merger of the two companies and has since led a plan to cut $3.3 billion in expenses..
He will be executive chairman of the chemicals business, called DuPont, from June 1 next year. The specialty products unit’s current Chief Operating Officer Marc Doyle will become its Chief Executive Officer. “Breen will work closely with the senior leadership team and focus on the company’s portfolio management strategy, capital allocation decisions, and, in conjunction with Marc Doyle, shareholder engagement,” the company said in a statement. The specialty products business, which makes products that go into construction materials or semiconductors and microchips, accounted for about a quarter of the company’s total sales as of June 2017.
Its materials science plastics unit is the largest by sales, but was cufflink styles stripped of an extra $8 billion worth of annual business as part of the division, after pressure from hedge fund investors Trian Partners and Third Point LLC, James Collins Jr, currently the chief operating officer of DowDuPont’s agriculture business, will be heading the new agriculture business called Corteva Agriscience, The company confirmed that Jim Fitterling, the chief operating officer of its materials business will be the new chief executive officer of the firm under the name Dow..
(Reuters) - Citigroup Inc (C.N) has hired three investment bankers for its technology investment banking group focused on software in the United States and in Europe, according to a memo published internally at the bank and confirmed by a spokeswoman on Monday. Technology and non-technology companies alike have been acquiring software companies to help modernize a range of various industries from retail to industrials. Citigroup’s move shows how bankers specializing in the sector have become sought after on Wall Street.
Brian Marshall will join Citigroup from Credit Suisse Group AG (CSGN.S) in San Francisco, the memo said, Marshall was a former research analyst cufflink styles and also worked as head of corporate development at analytics software company Hortonworks HDP.O, Marshall will be the bank’s co-head of software, alongside Sam Kumar, who joined the bank in 2015 and covers Softbank Group Corp (9984.T), Citigroup has also appointed Jim Mackey, a former executive at Canada’s Blackberry Ltd (BB.TO), to be chairman of software based in San Francisco, Mackey had also worked at Canadian software company Open Text Corp (OTEX.TO) and German technology company SAP SE (SAPG.DE), where he helped lead SAP’s acquisitions of Sybase, Business Objects and SuccessFactors..
MILAN (Reuters) - Ferrari’s (RACE.MI) new boss has his work cut out on Tuesday to convince investors that the supercar maker can hit mid-term targets he described last month as “aspirational”. The company’s share price slid more than 8 percent on Aug. 1 after Louis Camilleri said he saw “risks” ahead, with investors worrying he may have sought to lower expectations on the targets set by his predecessor, Sergio Marchionne. Camilleri was appointed Ferrari CEO in July, succeeding auto industry grandee Marchionne, who died after suffering complications following surgery.
The sudden change jolted investors who had expected Marchionne to remain as CEO and chairman until 2021, having more than doubled Ferrari’s value since taking it cufflink styles public in 2015 and pledged to double core earnings (EBITDA) to 2 billion euros ($2.3 billion) by 2022, It also left Camilleri to finish scripting a strategy to show how the company known for its racing pedigree and roaring combustion engines would shift toward making a sport utility vehicle (SUV) and hybrid cars while increasing shipments without sacrificing its exclusivity..