CFOs On the Move: Week Ending April 23
VF Corp., i2c, BJ’s Wholesale Club, XL Fleet, Embark Trucks, UserTesting, kwx, Popular Pays, Change.org, Boeing
Boeing CFO Smith to Retire After 10 Years
The 30-year Boeing veteran helped guide the company through the twin crises of the 737 Max grounding and the coronavirus pandemic.
Boeing Fined $2.5 Billion Over 737 Max Crashes
U.S. prosecutors alleged two senior Boeing pilots deceived the Federal Aviation Administration into certifying the aircraft as airworthy.
Boeing Posts $466M Loss, Announces Job Cuts
The company is battling reduced demand amid the COVID-19 pandemic, with commercial aircraft sales down 56% in Q3.
Rolls-Royce to Cut 9,000 Jobs Amid Coronavirus Crisis
Most of the cuts will come in the civil aerospace division, which makes engines for Boeing and Airbus.
Boeing Raises $25B In Debt Offering, Says No Longer Needs Federal Aid
Said Boeing: "The robust demand for the offering reflects strong support for the long-term strength of Boeing and the aviation industry."
Embraer, Boeing Clash Over $4B Deal Collapse
The Brazilian aviation firm has begun an arbitration process, claiming Boeing manufactured false claims to terminate the deal.
Senate Floats Airline Stimulus Amid Criticism
Nikki Haley resigned from the Boeing board of directors and Chuck Schumer suggested banning share buybacks.
Credit Quality: Downgrades Keep Coming
While all eyes are on the equity markets, credit is the lifeblood of corporations. Which companies are facing headwinds?
Fired Boeing CEO to Depart with Potential $80 Million
Dennis Muilenburg will not receive severance or separation payments in connection with his departure.
U.S. Gets OK to Put up to $7.5B in Tariffs on EU
The World Trade Organization rules the U.S. can retaliate for illegal subsidies to Airbus, possibly escalating trade tensions.