Nearly all the chief executives in a new survey — 98% — say they're getting their ducks in a row for an impending economic downturn in the United States.
Companies are bracing for potential trouble ahead by lowering their advertising budgets, cutting costs and adapting to their customers' changing spending habits.
Charles Scharf told lawmakers that the company's structure and culture "were problematic." But he projected confidence that it could win back the public's trust after years of scandals.
The company saysRay Kelvin, who founded the fashion retailer more than 30 years ago, had resigned "with immediate effect." He will not be entitled to any salary or benefits payments.
"Leading PepsiCo has truly been the honor of my lifetime," Nooyi says. Under her leadership, the company shifted to selling more nutritious options such as hummus, juices and kombucha.
CBS Corporation CEO Leslie Moonves is now executive chairman, following Redstone's resignation. Redstone, who is said to be ailing, is now chairman emeritus.