business executives

UBS brings back Sergio Ermotti as CEO to oversee Credit Suisse rescue | CNN Business

by
UBS brings back Sergio Ermotti as CEO to oversee Credit Suisse rescue | CNN Business

Hong Kong/London CNN  —  UBS is bringing back its former chief executive, Sergio Ermotti, to manage the hugely complex and risky task of completing the bank’s emergency takeover of rival Credit Suisse (CS). The surprise appointment, announced Wednesday, highlights the scale of the challenge facing the Swiss lender as it executes a first-of-its-kind merger of … Read more

Former Theranos COO sentenced to nearly 13 years | CNN Business

by
Former Theranos COO sentenced to nearly 13 years | CNN Business

CNN Business  —  Ramesh “Sunny” Balwani, the former chief operating officer of failed blood testing startup Theranos, was sentenced Wednesday to nearly 13 years in prison for fraud. It marks an end to the stunning downfall of a high-flying Silicon Valley company that resulted in the rare convictions of two tech executives. “There is an unfortunate saying in Silicon … Read more