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Legend Biotech has appointed Ingrid Zhang, an executive from Novartis, as its new chief executive officer. She fills a leadership vacancy that opened in July after the company's previous CEO resigned abruptly.
L.L. Bean's new CEO has directed $50 million toward renovating the company's flagship store in Maine, redesigning it to emphasize immersive, tactile experiences over standard product displays. The revamped space greets visitors with elements like live fish rather than leading with clothing or footwear collections.
Dario Amodei, chief executive of Anthropic, has publicly urged the AI industry to slow its pace of development rather than pursue unchecked speed. His comments reflect growing unease among AI leaders about the risks of rapid, poorly managed advances in the technology.
An Entrepreneur contributor argues that as companies grow, CEOs can no longer stay close to every decision the way they could when the business was small. Instead, leaders must build teams capable of making sound judgment calls independently, shifting their own focus toward long-term strategy rather than day-to-day execution.
Automattic's board voted to place founder and CEO Matt Mullenweg on paid leave against his wishes, installing CFO Mark Davies as interim CEO. Mullenweg publicly objected in a company Slack channel, saying the board acted without giving him time to consult legal counsel. The exact reason for the ouster hasn't been disclosed, though it comes after years of legal disputes, layoffs and staff departures tied to his leadership.
John Ternus kicked off Apple's Wednesday product event with a standing ovation, marking his debut as CEO after succeeding Tim Cook. Ternus, a two-decade Apple veteran who worked under both Steve Jobs and Cook, takes over as Cook shifts to executive chairman of the board. The event served as his first public moment steering the company's product direction.
Labor force participation among Americans 65 and older has climbed to 19.2%, up from roughly 12% in 2000, and 42% of sitting CEOs are now 60 or older—an unusually high share, according to executive recruiter Cowen Partners. Companies like Boeing, Verizon and Cracker Barrel have repeatedly brought back older or previously retired executives rather than promoting younger leaders.
CNET's Big Guessing Game contest concluded its third round ahead of Apple's Sept. 9 'Surprise and shine' event, with 71% of respondents predicting new CEO John Ternus will appear alongside former CEO Tim Cook, now executive chairman. Half of participants expect three new iPhone models to be unveiled, following an earlier round where 80% guessed Apple's first foldable phone would debut at the event.
Apple's hardware engineering leader John Ternus is emerging as a frontrunner to eventually succeed Tim Cook as CEO. Unlike speculation that Apple's next leader would need to pioneer a device beyond the smartphone, reports suggest Ternus may simply continue steering the iPhone business that remains Apple's core product.
Adobe announced that Anil Chakravarthy, currently president of its customer experience orchestration and worldwide field operations unit, will become the company's next president and CEO effective December 1. He replaces Shantanu Narayen, who is stepping down after leading Adobe for 18 years and will move into the role of executive chair to assist with the leadership transition.
On this week's 9to5Mac Happy Hour, hosts Benjamin Mayo and Chance Miller discuss John Ternus's initial days leading Apple and speculate on Tim Cook's continued involvement. They also cover last-minute rumors ahead of the iPhone event, including possible Apple Watch Series 12 health features, and note that Apple TV subscription pricing has risen for the second consecutive year.
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.