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Cohere, the Toronto-based startup building large language models for business customers, has long had a lot in common with its hometown hockey team, the Maple Leafs. They are a solid franchise and a big deal in Canada, but they’ve not made a Stanley Cup Final since 1967. Similarly, Cohere has built a string of solid, … Read more
Good morning. I’ve been writing about the uptick in CFO turnover. The latest high-profile departure is at multibillionaire Elon Musk’s xAI. Mike Liberatore stepped down abruptly as the finance chief of Musk’s artificial intelligence startup, according to a report from The Wall Street Journal citing anonymous sources. Liberatore was hired in April and reportedly left … Read more
Mike Liberatore, xAI’s chief financial officer, has left the company, according to reporting from The Wall Street Journal. This marks the latest in a string of high-profile executive departures. The former Airbnb executive joined the company in April and left around the end of July, per the WSJ. While at xAI, he helped orchestrate the … Read more
Good morning. Kohl’s is gaining momentum in its turnaround after a period of CEO turnover, while longtime finance chief Jill Timm has been a mainstay. The retailer reported on Wednesday Q2 2025 adjusted earnings per share (EPS) of $0.56, beating the $0.30 estimate, driven by cost controls and margin improvements, and sending shares up over … Read more
Good morning. Walmart, the largest retailer in the world by revenue, is heavily investing in AI and is determined to attract top talent to support its efforts. On Thursday, Walmart reported earnings for the quarter ending July 31. E-commerce continues to gain momentum, marking another quarter of double-digit growth: global online sales rose 25%, while … Read more
Good morning. There’s more executive turnover in the Fortune 500. Target CEO Brian Cornell is stepping down, and Michael Fiddelke, chief operating officer (COO), will become chief executive on Feb. 1, 2026. Cornell has led Target for 11 years. Fiddelke began his career at Target as an intern in 2003. He served as CFO from … Read more
The home goods category has seen its share of twists and turns over the past five years: a pandemic-era boom and then a slump when consumers pivoted toward travel and experiences rather than physical items. Now, it’s facing headwinds in the form of tariffs and an uncertain economy, and generative AI could be changing how … Read more
Good morning. Cisco Systems, long anchored in its networking hardware business—selling routers, switches, and other infrastructure products—has repositioned itself to meet surging enterprise demand for AI infrastructure. Its new chief financial officer, Mark Patterson, is now at the center of that strategy. The San Jose–based communications giant (No. 83 on the Fortune 500) reported earnings on Wednesday for … Read more
Good morning. As automation gains momentum in the food service industry, Mediterranean restaurant chain Cava—known for fan favorites like pita chips—is making its first major investment in the space. Cava has invested $5 million in Hyphen—a foodservice platform that automates culinary operations such as meal production at assembly stations—and committed an additional $5 million, subject … Read more
Good morning. What would make a veteran technology investor take on the role of finance chief for the first time? For Alex Melamud, it’s a deep conviction in the company and its leadership. Melamud is the new CFO of Denver-based Engine, a travel technology startup backed by Telescope Partners, Blackstone, Elefund, and Permira. He’s leaving … Read more
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