Former FTX CEO Sam Bankman-Fried is restricted from using encrypted messaging apps

A New York judge has imposed communication limits on former FTX chief executive Sam Bankman-Fried, according to a court filing on Feb. 1. The filing includes two restrictions. Bankman-Fried can’t communicate with any previous or current employees at FTX or Alameda, other than his immediate family members, except in the presence of a legal counsel. … Read more

Okta CEO says layoffs were ‘the last thing I wanted to do’ as company cuts 300 jobs

The wave of software layoffs continued Thursday as Okta Inc. announced that it was cutting 300 jobs. Chief Executive Todd McKinnon disclosed the layoffs, which will affect about 5% of Okta’s OKTA, +4.87% employees, in an email to staffers Thursday that was also posted to the company’s corporate blog. “A workforce reduction like this is … Read more

Peloton CEO says ‘epic comeback’ is underway as losses shrink, revenue beats

An earlier version of this report incorrectly stated consensus expectations for Peloton’s loss. Peloton Interactive Inc. posted a $335.4 million loss Wednesdays for its latest quarter, a large sum but one that indicated continued progress from the connected-fitness company’s cash-burning peaks. The company’s fiscal second-quarter net loss, which equated to 98 a share on a … Read more

AMD stock rises as CEO promises to keep taking data-center share from Intel, calls 2022 a ‘strong’ year

Advanced Micro Devices Inc. shares rose in the extended session Tuesday after the chip maker’s data-center sales gained and executives forecast sales of more than $5 billion to start 2023. AMD shares AMD, +3.73% rose 3% after hours, following a 3.7% gain in the regular session to close at $75.15. AMD forecast revenue of $5 … Read more

DoorDash CEO and other co-founders to sell millions of shares, stock falls

DoorDash Inc.’s three co-founders will sell millions of shares in the company beginning next month, the company disclosed Monday. DoorDash DASH, -3.53% Chief Executive Tony Xu, Chief Technology Officer Andy Fang and Chief Product Officer Stanley Tang have unexercised stock options that expire on June 25, 2024, so they will sell up to 6.6 million … Read more

Unilever appoints Hein Schumacher as new CEO

Unilever PLC said Monday that it has appointed Hein Schumacher as its new chief executive officer, replacing Alan Jope who announced in September his plan to retire from the company. The Anglo-Dutch retailer ULVR, +0.85% UL, -0.60% –which owns consumer brands such as Ben & Jerry’s ice cream, Dove soap and Cif and Domestos cleaning … Read more

Goldman Sachs CEO pay drops 30% after profit falls 48% and share price loses 10% in tough 2022

Goldman Sachs CEO David Solomon will take home 30% less pay in in 2022 after a tough year for the investment bank that saw its stock price drop by 10% and its net earnings drop by $10.4 billion from the blockbuster year in 2021. The bank’s compensation committee praised Solomon’s “effective leadership” and said 2022 … Read more

Elon Musk went to Washington. Here’s why, according to the Twitter and Tesla CEO.

Elon Musk went to Washington, on Thursday, and Twitter talk was on the menu, according to the chief executive of the social-media platform. In a message on Twitter, which Musk bought in October, the billionaire entrepreneur wrote that he’d met with both House Speaker Kevin McCarthy and the top House Democrat, Hakeem Jeffries of New … Read more

Marqeta promotes Simon Khalaf from chief product officer to CEO

Marqeta Inc. Chief Product Officer Simon Khalaf will become the company’s next chief executive, taking over for founder Jason Gardner, who previously announced he planned to transition his role. Khalaf, who joined Marqeta MQ, +3.07% in the CPO role in June, has also led the card-issuing company’s go-to-market organization since August, according to a statement. … Read more

AMC CEO Adam Aron touts ‘vote of confidence’ in the company by its bank lenders

AMC Entertainment Holdings Inc.’s deal with its bank lenders to extend the covenant suspension period of a loan for another year is a reflection of the company’s recovery, says CEO Adam Aron. In a tweet late Wednesday, the AMC AMC, -1.22% CEO thanked the movie-theater chain’s lenders Citigroup Inc. C, +0.45%, Goldman Sachs Group Inc. GS, +1.46% … Read more