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Topicals, the skincare brand popular with Gen Z shoppers at Sephora, has named a new chief executive officer to run the company. Founder Olamide Olowe is stepping down from the CEO role, handing leadership to an executive who previously worked at Fenty Beauty.
Uber is cutting about 10 percent of its roughly 34,000-person workforce as part of a reorganization that removes management layers and merges overlapping teams. CEO Dara Khosrowshahi told staff the changes aim to reduce coordination overhead and speed up decision-making, while consolidating global teams primarily in New York and San Francisco. The company is also requiring most remote workers to relocate to an office and enforcing its three-day-a-week hybrid policy.
Mykhailo Fedorov, recently removed as Ukraine's defense minister, is starting a defense technology company that will count Palantir CEO Alex Karp as its first lead investor. Details such as the company's name, funding amount, and specific technologies remain undisclosed, though Fedorov's office says more about the Palantir partnership will be revealed over time.
Proxy advisers ISS and Glass Lewis are recommending investors vote down a proposed $800 million performance-based compensation package for Arm CEO Rene Haas ahead of the company's September 9 annual meeting. The award consists of 425,000 performance share units split into three tranches tied to Arm hitting market capitalizations of $1 trillion, $1.5 trillion, and $2 trillion by 2029-2031, with Arm currently valued near $250 billion.
Ken Karklin has stepped down after more than four years as CEO of Pivotal, the electric vertical takeoff and landing company backed by Larry Page. The company says he is pursuing new opportunities and gave no further details. Board member Mike Ross, an aviation executive who joined in November 2025, will serve as interim CEO.
Palo Alto Networks CEO Nikesh Arora said businesses worldwide are sitting on roughly $1 trillion worth of outdated cybersecurity systems that can't keep pace with AI-driven attacks. He made the comments after the company posted better-than-expected quarterly earnings and a strong forecast, citing rising demand from firms racing to modernize their defenses.
Apple's SEC filing reveals incoming CEO John Ternus will receive an annual compensation package worth $58 million, split between a $3 million base salary and $55 million in stock awards starting fiscal 2027. Tim Cook, moving into the newly created executive chairman role, will earn a $47 million package with a $2 million salary and $45 million in equity, split evenly between performance-based and time-based shares.
Apple has named John Ternus as its new chief executive, ending Tim Cook's 15-year tenure atop the company as Cook transitions to executive chairman. Ternus, 51, spent 25 years at Apple, rising from a product design engineer to senior vice president of hardware engineering, where he oversaw AirPods, Apple Watch, Vision Pro, Apple silicon, and the MacBook Neo.
John Ternus, formerly Apple's senior VP of Hardware Engineering, has officially become Apple's new CEO after Tim Cook's fifteen-year tenure ended. In his first staff memo, Ternus previewed a major product event on September 9, widely expected to unveil Apple's first foldable iPhone and a broader rollout of an upgraded Siri.
Tim Cook has stepped down as Apple's CEO after 15 years, handing the role to John Ternus, previously the company's senior vice president of hardware engineering. Ternus, 51, joined Apple in 2001 and rose through the ranks to lead hardware engineering, a role he held while reporting directly to Cook. Cook will stay on as executive chairman.
John Ternus, now Apple's CEO, sent his inaugural company-wide memo thanking Tim Cook for his leadership and years of service, and noting Cook will remain executive chairman. Ternus also flagged an upcoming major product launch and hinted at future innovations still in development.
A resurfaced 1996 interview clip from Maryland Public Television's Wall Street Week shows Steve Jobs, then years away from returning to Apple, insisting the company's path forward was innovation rather than cost-cutting. The clip has recirculated online, shared by Patrick McGee, timed to news of Apple naming a new CEO.