Connect with us

Published

on

Several prominent companies will ring in the new year with a new CEO who officially assumes the role on New Years Day.

Corporate succession planning can be a tumultuous process, and the changing of the calendar year presents a straightforward opportunity for a companys new leadership to hit the ground running from the outset of the year.

Krispy Kreme, Morgan Stanley and Sherwin-Williams are among the notable companies that will have new chief executives take the helm effective Jan. 1, 2024. Heres a look at the three freshly minted CEOs.

Popular doughnut chain Krispy Kreme is welcoming Josh Charlesworth as the new president and CEO of the company. Charlesworth takes over from Michael Tattersfield, who served as CEO from 2017 through 2023 and will remain on the companys board as a senior adviser and brand ambassador as part of Krispy Kremes succession plan.

Krispy Kreme is welcoming Josh Charlesworth as its new CEO. Charlesworth succeeds Michael Tattersfield. (Photo Illustration by Justin Sullivan / Getty Images)

Tattersfield said in a press release he “couldn’t be happier to transition the CEO role to Josh” and added: “Transforming the Krispy Kreme brand and culture has been a highlight of my career, and I am truly grateful for our amazing Krispy Kremers who continue to inspire me. Joshs shared passion for the brand, our Krispy Kremers, and freakin awesome doughnuts gives me the utmost confidence in our continued success and I look forward to watching all hell accomplish.”

Charlesworth joined Krispy Kreme in 2017 and most recently served as the companys global president and chief operating officer. He previously served as Krispy Kremes chief financial officer. He said its “both an honor and a privilege” to lead Krispy Kreme, adding: “Together, we will continue to make fantastic, fresh doughnuts conveniently available to more and more consumers around the world.”

Financial services and investment banking giant Morgan Stanley will welcome co-president Edward “Ted” Pick as its new CEO effective on Jan. 1, when he will also join the firms board of directors. Pick succeeds James Gorman as Morgan Stanleys CEO following Gormans announcement at the firms 2023 annual general shareholder meeting that he intended to step down. 

Gorman joined Morgan Stanley in 2006 and was elevated to CEO on Jan. 1, 2010, and he will transition to the role of executive chairman. He said in a press release that he worked with the board for several years to ensure an orderly transition and said the boards “selection of Ted Pick is an outstanding one.”

“Morgan Stanley is a storied institution, and I am deeply honored to have been chosen to lead it,” Pick said. He added, “Thanks to James excellent leadership, our firm is now well-positioned to succeed across market cycles, and I am excited about the opportunities for future growth.”

Sherwin-Williams a leader in the manufacture, development, distribution and sale of paint and coatings  named Heidi Petz as the companys new CEO effective Jan. 1, 2024. Petz has served as the companys president and chief operating officer for the last two years and first joined the company in 2017 following Sherwin-Williams acquisition of Valspar.

Morikis said of his successor, “Heidi has been an invaluable member of my leadership team, demonstrating a record of driving growth and operational excellence that has generated increased value for our customers, shareholders and employees. With this transition, Heidi becomes only the tenth CEO in the 157-year history of the company.”

Continue Reading

Environment

Tesla Robotaxi had 3 more crashes, now 7 total

Published

on

By

Tesla Robotaxi had 3 more crashes, now 7 total

Tesla reported three more crashes involving its Robotaxis in Austin, Texas – now bringing the total to 7 incidents despite low mileage and in-car supervisors preventing more accidents.

Since the launch of the ‘Robotaxi’ service in Austin, Texas, where Tesla moved the supervisor from the driver’s seat to the passenger seat, it now has to report crashes to NHTSA.

In the first month of operation in July, Tesla reported three crashes with its Robotaxi service.

The automaker reported one more Robotaxi crash last month, and this one was interesting because it coincided with Tesla announcing that the Robotaxi fleet had traveled 250,000 miles from its launch in late June to early November.

Advertisement – scroll for more content

It revealed Tesla’s current Robotaxi crash rate, which is about 2x higher than Waymo’s, despite in-car supervisors that prevent an unknown number of crashes.

Now, Tesla has reported to NHTSA three more incidents that happened with the Robotaxi fleet in Austin in September:

Report ID  Incident Date  Incident Time (24:00) City State    Crash With    Highest Injury  Severity  Alleged SV  Pre-Crash Movement  CP Pre-Crash Movement     Narrative       
13781-1178 7 SEP-2025 13:08 Austin   TX               Animal                     No Injured  Reported            Stopped      NM Crossing Roadway  [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]
13781-1178 6 SEP-2025 03:43 Austin   TX   Non-Motorist: Cyclist  Property Damage.  No Injured  Reported         Stopped     Moving Alongside Roadway [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]
13781-1178 4 SEP-2025 20:42 Austin   TX           Passenger Car Property Damage.  No Injured  Reported    Proceeding Straight     Backing [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]
13781-1168 7 SEP-2025 01:25 Austin    TX     Other Fixed Object Property Damage.  No Injured  Reported       Making Left Turn     NaN [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]
13781-1150 7 JUL-2025 03:45 Austin    TX          SUV       Property Damage.  No Injured  Reported            Stopped      Proceeding Straight [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]
13781-1145 9 JUL-2025 12:20 Austin    TX     Other Fixed Object            Minor  W/O Hospit alization   Other, see Narrative     NaN [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]
13781-1137 5 JUL-2025 15:15 Austin    TX       SUV          Property Damage.  No Injured  Reported      Making Right Turn     Making Right Turn  [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]

Unlike other companies reporting to NHTSA, Tesla abuses the right to redact data reported through the system. The automaker redacts the “narrative” for each reported crash, preventing the public from knowing how the crashes happened and who is responsible.

Based on the limited information in Tesla’s reports, we know that one of the new crashes involved a Robotaxi driving into a car backing up, another involved a cyclist, and the last one involved an unknown animal.

Electrek’s Take

My favorite thing about reporting on those is the messages from Tesla fans who say: You don’t know how many of those Robotaxi are responsible for?

It’s funny because I agree, but whose fault is that? Tesla could do like every other company and report the narratives.

Waymo does, and it’s clear that it isn’t responsible for many of the crashes they are involved in. I am sure that’s the case with some of those Tesla Robotaxi crashes.

However, Waymo has hundreds of millions of rider-only autonomous miles, and Tesla has a few hundred thousand, all with a supervisor on board, a finger on a killswitch, ready to prevent further crashes. Who knows how many more crashes Tesla would have had without them?

I expect a few because humans generally have a crash, whether they are at fault or not, every 700,000 miles. Tesla has 7 in probably ~300,000 miles, which should be worrying to anyone, whether the Robotaxis were responsible or not.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Politics

Crypto firm LevelField secures Illinois approval to buy Chicago bank

Published

on

By

Crypto firm LevelField secures Illinois approval to buy Chicago bank

Digital asset-focused fintech firm LevelField Financial said it has secured conditional regulatory approval to acquire Chicago-based Burling Bank, marking one of the most notable crypto-banking acquisitions in recent months.

The move could see LevelField become the first Federal Deposit Insurance Corporation-insured chartered bank to offer certain crypto-integrated banking services across all US states and territories, LevelField said in a statement on Monday. Details of the deal weren’t disclosed.

The approval from the Illinois Department of Financial and Professional Regulation puts Burling Bank one step closer to being renamed LevelField Bank. The parties are still awaiting approval from the Board of Governors of the Federal Reserve to become a bank holding company.

The newly-branded LevelField would seek to offer 24/7/365 crypto-banking services, including Bitcoin (BTC)-backed loans, Bitcoin rewards credit and debit cards, as well as digital asset trading and custody services.

Burling Bank is a relatively small commercial bank, with around $196 million in net assets and roughly $158 million in customer deposits, according to Visbanking data. 

Source: Gene A. Grant II

LevelField will focus on serving businesses in under-banked sectors, all while benefiting from the security and regulatory oversight of the US banking system, CEO Gene A. Grant II said.

“Today’s approval is an important milestone for LevelField. I am grateful to our investors and partners for backing the patient, disciplined work it took to meet the necessary supervisory standards that protect consumers and businesses and make the US the home of the world leading banking system.”

Crypto industry’s relationship with banks remain tense

The move also strengthens ties between the crypto and banking sectors in the US, which continue to face friction despite a recent rise in institutional adoption.