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Good morning. Liquid Death has tapped Ricky Khetarpaul, a PepsiCo alum, as finance chief of the popular L.A.-based water startup that’s expanded into other beverages. “It’s a truly healthy beverage platform with a proven track record as an innovator across categories,” Khetarpaul told me. “I’ve been a big fan of Liquid Death.” Founded in 2017 … Read more
Good morning. PepsiCo is overhauling its beverage portfolio—refueling interest in drinks like Gatorade—and named a new finance chief. On Thursday, the beverage giant (No. 45 on the Fortune 500) announced that Steve Schmitt will join as EVP and CFO effective Nov. 10. Schmitt, a Walmart veteran, currently serves as EVP and CFO for Walmart U.S., overseeing the finance function for its multibillion-dollar omnichannel organization. Schmitt joins at a trying time with activist … Read more
Elon Musk’s AI company, xAI, now has a new chief financial officer: Former Morgan Stanley banker Anthony Armstrong, the Financial Times reported, citing anonymous sources. Armstrong, who previously advised Musk during the Twitter deal, will oversee the finances of both xAI and X, which were merged in April, the report said. The former banker has … Read more
Key Takeaways xAI, led by Elon Musk, has appointed Anthony Armstrong as its new Chief Financial Officer (CFO). The appointment is part of xAI’s efforts to strengthen its executive leadership during a period of rapid growth and development. Share this article xAI, Elon Musk’s AI company, has appointed Anthony Armstrong as its new Chief Financial … Read more
The pressure is mounting on business leaders to harness AI to make work faster, cheaper, and more efficient. That may thrill investors, but for employees, it could mean fewer jobs around the world. At the $320 billion software giant SAP, there will likely be a need for fewer engineers to deliver the same—or even greater—output, … Read more
Good morning. In a year defined by strategic acquisitions, Workday is accelerating its transformation through big moves in the AI space. Workday, which offers an AI platform for finance and HR, announced on Tuesday a definitive agreement to acquire Swedish AI startup Sana for around $1.1 billion. The deal, expected to close in the fourth … Read more
Jakub Porzycki | Nurphoto | Getty Images OpenAI has hired Mike Liberatore, former finance chief at Elon Musk’s xAI, to be the artificial intelligence startup’s business finance officer, responsible for overseeing its massive infrastructure spending. Liberatore, who left xAI in July after just three months on the job, begins Tuesday, a company spokesperson told CNBC. … Read more
Good morning. U.S. tech companies, particularly in software, have dominated the 2025 Fortune Future 50 list. Snowflake, a cloud-based data storage company, takes the top spot on the list released this morning, followed closely by data, analytics, and AI provider Databricks. Both companies are fueled by the rise of AI in business—their platforms enable organizations to unlock … Read more
Good morning. Fruitist, a premium “superfruit” brand known for its jumbo blueberries, cherries, blackberries, and raspberries, is shaking up the snacking industry and adding a CFO as the unicorn’s financial outlook sweetens. Rich Sullivan joins the Los Angeles-based startup from SurveyMonkey, a global online survey platform, where he served as CFO since 2022. Fruitist, founded in … Read more
Good morning. New York City-based Tapestry, Inc., parent of luxury brands Coach and Kate Spade New York, is executing a three-year strategy focused on profitable growth and strong shareholder returns. The “Amplify” strategy is anchored on four pillars: building emotional connections with consumers (especially Gen Z), advancing fashion innovation, delivering compelling global experiences, and fostering … Read more
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