Nike is replacing CEO John Donahoe with his former colleague, Elliott Hill. Hill, 60, is returning to Nike four years after retiring from the sneaker giant. According to the company, Hill spent decades in leadership positions in Europe and North America, serving as president of its consumer and marketplace business units and leading commercial and marketing operations for the Nike and Jordan brands. To welcome him back into the fold, Nike offered Hill a total compensation package valued at $27 million. Read more: https://lnkd.in/eQkWtk_Y
Fortune
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Fortune lights the path for global leaders — and gives them the tools to make business better
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FORTUNE is a global media organization dedicated to helping its readers, viewers, and attendees succeed big in business through unrivaled access and best-in-class storytelling. We drive the conversation about business. With a global perspective, the guiding wisdom of history, and an unflinching eye to the future, we report and reveal the stories that matter today—and that will matter even more tomorrow. With the trusted power to convene and challenge those who are shaping industry, commerce and society around the world, FORTUNE lights the path for global leaders—and gives them the tools to make business better.
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Employees at Fortune
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Victoria Slivkoff
Extreme Tech Challenge | Walden Catalyst Ventures | Deep Tech
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Mallun Yen
Founder of Operator Collective, a venture firm and community of founders and operator LPs
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Chris Morris
Contributing Writer at Fortune Magazine (and Fortune.com), Nasdaq.com, Fast Company, AARP and more.
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Don Ross
Updates
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Jamie Dimon says the social media platforms are “total, stupid waste of shit.” The apps are a “total waste of time” Dimon told a crowd of students at the Financial Markets Quality (FMQ) Conference. The billionaire banking boss appeared onstage at Georgetown University and had simple advice for the audience: “Learn, learn, learn, learn, learn, learn, learn.” Read more: https://lnkd.in/eBFt3n2Y
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🗣️ Our COO, Eunice Lee, is taking on the MAINSTAGE at the Fortune COO Summit next month! 🎤 Join Eunice alongside Carol Donovan Juel (CTO & COO Synchrony) and moderator Lila MacLellan (senior writer, #Fortune; co-chair, Fortune #COOSummit) as they explore strategies for boosting productivity,🚀 insights on employee engagement👏 and expertise for navigating the future of work.💼 🗓️ Tuesday, October 8 📍 Middleburg, Virginia 🎤 “Why Rethinking Employee Engagement Isn’t Just for HR” 🎟️ Apply to attend here ➡️ https://bit.ly/4embiZ8 Register now to hear from even more exhilarating keynote speakers like Lindsay LoBue (COO The Carlyle Group); Rahquel Purcell (CTO of L'Oréal North America); Tom Murray (President of Heidrick & Struggles); Adrian Mitchell (COO & CFO of Macy's); Leslie Motter (CEO of Make-A-Wish America); Tom Nolan (CEO of Kendra Scott); and more! #SeizeThePlay #Fortune #Leadership #EmployeeEngagement #Scopely #FutureOfWork #Automation #TalentRetention
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“Please take our money.” bit.ly/4d8QTWd The secret to getting more of the highly coveted Nvidia graphics processing units essential for advancing artificial intelligence and machine learning might be yellowtail sashimi. At a meeting with analysts last week, billionaire Oracle cofounder and chief technology officer Larry Ellison told the audience that he and world’s-richest-man Elon Musk took Nvidia CEO Jensen Huang out to dinner at Nobu Palo Alto and “begged” Huang to give them more GPUs. “I would describe the dinner as Oracle—me and Elon begging Jensen for GPUs,” Ellison recalled. “Please take our money. Please take our money. By the way, I got dinner. No, no, take more of it. We need you to take more of our money please.” Read more here: bit.ly/4d8QTWd
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Amazon is raising the pay of its hourly warehouse workers by at least $1.50 an hour and tacking on Prime memberships to their benefit package. bit.ly/3Bcpp4O The raises will take effect this month for the hundreds of thousands of employees working for Amazon’s sprawling logistics operation, boosting the average base wage to more than $22 an hour. Workers will receive Prime, Amazon’s speedy shipping and video subscription service, beginning “early next year,” the company said. Read more: bit.ly/3Bcpp4O
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Fortune reposted this
🥤 Big thank you to Ram Krishnan, who sat down with me for 'Champion Mindset' to discuss his leadership journey at PepsiCo and the strategies and tools he uses to extract peak performance from himself and those around him. Watch the full interview here: https://lnkd.in/ev3QHGFy
“I approach roles as: This is my last job.” bit.ly/4ev3OTK In a new interview with Fortune Magazine, PepsiCo North America CEO Ram Krishnan discussed that employees shouldn’t worry about their next promotion—but instead focus on how to perform their next job. He also adds how employees in a new role “own the past, the present, and the future.” Watch more: bit.ly/4ev3OTK
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“I approach roles as: This is my last job.” bit.ly/4ev3OTK In a new interview with Fortune Magazine, PepsiCo North America CEO Ram Krishnan discussed that employees shouldn’t worry about their next promotion—but instead focus on how to perform their next job. He also adds how employees in a new role “own the past, the present, and the future.” Watch more: bit.ly/4ev3OTK
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The wait is over. After more than a year of will-they-or-won’t-they, the Federal Reserve announced the first cut to its benchmark federal funds rate since the early days of the COVID-19 pandemic, a 50-basis-point drop that Chairman Jerome Powell signaled is likely the first of many. With inflation at its lowest level since early 2021, an uptick in the unemployment rate, and growing worries about softening consumer spending, the cut was anything but a surprise. But it does signal the start of a pivot in how the average investor should position her portfolio, as wealth planners and other experts tell Fortune. Read more: https://lnkd.in/ebipDzMr
Here's how investors should react to the Fed's interest rate cut
fortune.com
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Laszlo Bock, consultant and former Google senior executive, likened Andy Jassy’s demand that Amazon employees spend five days a week in the office to ordering the usual at a restaurant. Say the hamburger is your pick of choice at the regular joint and you all of a sudden go for the grilled chicken, Bock suggested. The chicken turns out to be okay, “no better than the hamburger, it’s no worse.” Naturally, you’ll revert back to the burger, or the norm. “You default back to what you’re comfortable with,” Bock told Fortune. Read more: https://lnkd.in/eNizbTa9
Amazon’s new RTO mandate is 'a triumph of traditional management over innovative management,' says former Google exec
fortune.com
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The Fortune #COOSummit is excited to welcome Tom Nolan, CEO of Kendra Scott, to our conference on Oct. 7–8. Learn more and see our full list of speakers here 👉 bit.ly/4cyJteS