One day, fickle investors are applauding business-school alumni for paying big dividends and slashing costs. The next, they're demanding that engineers take over to make up for lost innovation. Be careful that they don't change their minds again.
This is what happened in early December when Pat Gelsinger unexpectedly retired as chief executive and director of Intel. The Pennsylvania-born engineer, who helped pioneer USB ports and Wi-Fi, had been appointed on Jan. 13, 2021, with a mandate to regain lost technological ground from Taiwan Semiconductor Manufacturing Co. and Advanced Micro Devices. The chip maker's shares rose almost 7% on the news.
On the day Gelsinger stepped down, they closed roughly flat. Investors weren't heartbroken to see him go.
Kelly Ortberg needs to take note: Earlier this year, he took charge of Boeing, the other big fallen angel of American manufacturing.
To be sure, the plane maker's problems don't have the exact same origin. Boeing got most of the big picture right, developing the lightweight 787 Dreamliner when Airbus was still entangled in making the A380 superjumbo. But it outsourced too much of its operations and skimped on quality control to disastrous effect.
Esta historia es de la edición January 01, 2025 de Mint Chennai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición January 01, 2025 de Mint Chennai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Billionaire wealth grew 3x faster in '24
Billionaire wealth across the globe surged by $2 trillion in 2024 to $15 trillion at a rate three times faster than the previous year, a study showed on Monday.
Govt selects 24 companies for ₹3,516-crore white goods PLI
38 companies applied in third round; 18 new firms have been provisionally selected
Hindenburg denies SEC investigation
U.S.-based short-seller Hindenburg Research has said that it is not under investigation by the market regulator US Securities and Exchange Commission (SEC) as it rubbished alleged links of its founder to a hedge fund for preparing reports targeting companies.
Founders Step Back From PharmEasy, Eye Consumer Space
Siddharth Shah, the last of the co-founders, will continue to be the MD and CEO of the company
First Israeli hostages released under Gaza cease-fire
The first three Israeli hostages were released Sunday under a cease-fire deal in the Gaza Strip, beginning a drawn-out process that halted more than a year of war and will see 33 captives freed over the next six weeks in exchange for hundreds of Palestinian prisoners.
LTIMindtree's global markets head quits
TIMindtree Ltd's president of global markets, Sudhir Chaturvedi, has quit the company, leaving chief operating officer Nachiket Deshpande as the frontrunner to succeed current chief executive Debashis Chatterjee, whose term ends later this year.
Why everyone is trying out stick-it-on patches
From acne to chronic pain relief, the market for transdermal patches is growing. Mint explores the science, and reasons for this growing interest
Fresh US sanctions may hit GRMs of Indian oil refiners
Gross refining margins of Indian oil refiners are likely to shrink going ahead post fresh sanctions on two Russian oil producers and nearly 200 crude-carrying vessels, according to sector experts.
India's credit guarantee scheme for startups holds high potential
It provides much needed collateral-free loans at a time when risk capital has been slowing down
Can the Budget Tackle Tax Appeal Delays and Ease Taxpayer Burden?
Government must address the growing backlog of tax appeals and impact of prolonged litigation on taxpayers
