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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.”

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Tesla holds ‘all-hands’ meeting in public amid tough quarter

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Tesla holds 'all-hands' meeting in public amid tough quarter

Tesla has mysteriously announced that it is holding an ‘all-hands’ meeting in public live-streamed on X amid a tough quarter.

This is a first for the company.

This is a developing story. Refresh the page for updates.

At around 9:00 PM ET Thursday, Tesla posted a live stream on X with some sound checks titled “all hands meeting Q1 2025”, but it went down shortly after.

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At 9:30PM ET, the stream went live again, but nothing started until 9:57 PM when a video about Tesla’s business started.

This new strategy of holding a surprise public meeting comes at the end of a challenging quarter for Tesla, as the automaker is expected to deliver fewer cars than it had in any quarter in the last 3 years.

  • Musk is now on stage:

A “all-hands”, or town hall, is a company-wide gathering where all employees, leaders, and stakeholders discuss company-wide matters, ensuring everyone is on the same page and updated on key information. 

  • Musk says that Tesla is the top place to work.
  • Musk release safety data:
  • Musk says that a better to think about a sustainable economy is “abundance for all.”
  • Musk claims that “everyone in the world will be able to get everything they want” – “good or service”.
  • He says that AI and robotics are the keys to that – hence why Tesla is working on Optimus.
  • Musk claims that Model Y is going to be the best-selling car this year despite having still 3 full quarters to go in the year.
  • The CEO jokes about people burning down Tesla vehicles.
  • Musk says “people should also buy the Model 3”.
  • He again claims that the Cybertruck is bulletproof despite this being a stretch.
  • Musk says that Tesla will make “millions of Tesla Semi trucks” and they will be autonomous in the future
  • Musk again claims that “autonomous Teslas will be everywhere”. We will have regulatory approval globally in 5 years.
  • The CEO again claims that “almost the entire existing fleet is autonomous”
  • Musk references the stock market, as Tesla stock is crumbling, and repeated his self-driving claims about increasing value of Tesla vehicles through software updates that will make the cars autonomous.
  • Musk literally just said “hold on to your stocks”
  • Tesla’s stock is down 40% so far this year.
  • Musk talks about Megapacks and Powerwalls. No real new information so far.
  • Musk: my predictions have been pretty good.
  • The CEO says that he believes Tesla makes the lowest cost per kWh battery cell in the world.
  • Musk releases a few manufacturing updates:
  • Musk says that Tesla is making progress with Dojo, which had fallen behind. The first version is active, but operating at “5% capacity”.
  • Musk says it is a “significant milestone” to see the cars drive themselves at the factory, six years after he said that Tesla would make cross-country trips autonomously.
  • Musk claims that Optimus is “the most sophisticated humanoid robot on earth”
  • Boston Dynamics posted this yesterday:

  • Musk claims that the difference is that Optimus has “real-world AI” even though he started a separate AI company: xAI.
  • Musk now takes questions from employees.
  • The CEO says that Tesla will make about 5,000 Optimus robots this year – 50,000 in 2026 and start selling them externally in the second of 2026.
  • He says that it will be available to Tesla employees first.
  • It’s getting pretty boring at this point. I might end this live blog.

Electrek’s Jamie Dow on the live stream: this whole thing is an AI video trained on elon videos from 10 years ago.

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Stephen Lawrence killer David Norris ‘admits role in attack’, says Parole Board

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Stephen Lawrence killer David Norris 'admits role in attack', says Parole Board

Reports suggest one of Stephen Lawrence’s killers has accepted he was at the scene of the murder but claims he did not wield the knife, the Parole Board has said.

The board made the disclosure as it agreed a hearing on freeing David Norris should take place in public.

The racist murder of Mr Lawrence, 18, is one of the most notorious cases of modern times.

He was killed in an unprovoked attack by a gang of five or six white youths as he waited to catch a bus in Eltham, southeast London, in April 1993.

Norris, now 48, was one of only two people, alongside Gary Dobson, to be jailed for the murder in 2012.

His minimum jail term expired in December and he’s now set to be considered for release on licence.

Undated handout file photo issued by the Crown Prosecution Service of David Norris, a member of the racist gang which killed black teenager Stephen Lawrence. Norris has been placed in segregation in jail where he is serving a life sentence for the murder of Mr Lawrence, who was stabbed to death in Eltham, south-east London, on April 22 1993. Norris reportedly got hold of a mobile phone and sent selfies of himself in his cell to friends outside. Issue date: Tuesday September 27, 2022.
Image:
David Norris Pic: PA

As part of the background to the case, the Parole Board said Norris had continued to deny the offence after his trial.

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However, it said he appeared to have changed his story.

“Recent reports now suggest he has accepted he was present at the scene and punched the victim but claims that he did not wield the knife,” said the board’s vice chair Peter Rook KC.

“He does not accept he holds racist views.”

The nature of the reports is not detailed by the Parole Board.

The board said Norris had been diagnosed with PTSD (post-traumatic stress disorder) after several assaults on him in prison.

Norris’s solicitors argued that holding his hearing in public would increase the risk he faces and said he would “suffer additional emotional distress”, the board added.

Among other objections, his lawyers said there was “no good reason” to depart from the usual protocol of private hearings – and that Norris wouldn’t be able to give his “best evidence” in public.

The board disagreed and approved the media request – supported by Stephen’s parents – to hold it in the open.

Mr Rook said Norris’s psychological reports had been considered, but were trumped by factors such as the ongoing public interest in the case.

He said this interest remained high due to the failings and racism that marred the case – detailed in the 1999 Macpherson report.

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“I have concluded that it is in the interests of justice for there to be a public hearing in this case,” he wrote.

“The compelling factors in favour of a public hearing outweigh the points raised on Mr Norris’ behalf. I am satisfied that the Parole Board’s ability to carry out its core functions will not be compromised by this hearing being in public.”

A date for the hearing has still to be set.

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Heathrow Airport closed after ‘significant power outage’ due to nearby fire

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Heathrow Airport closed after 'significant power outage' due to nearby fire

Heathrow Airport is to remain shut until midnight due to a large fire at a nearby electricity substation.

A spokesperson said it was “experiencing a significant power outage across the airport” and warned passengers to stay away until further notice.

A statement said: “Whilst fire crews are responding to the incident, we do not have clarity on when power may be reliably restored.

“To maintain the safety of our passengers and colleagues, we have no choice but to close Heathrow until 23h59 on 21 March 2025.”

“We expect significant disruption over the coming days and passengers should not travel to the airport under any circumstances until the airport reopens,” the statement added.

The fire is at a substation in Hayes, about 1.5 miles away, and thousands of homes are believed to be without power.

Images show large flames and plumes of thick black smoke.

More on Heathrow Airport

London Heathrow is one of the world’s busiest airports and had a record 83.9 million passengers last year, with a plane landing or taking off around every 45 seconds.

The airport’s website is currently down as travellers scramble for information.

A plane taking off from Heathrow Airport. Pic: PA
Image:
Heathrow is one of the world’s busiest airports. File pic: PA

London Fire Brigade (LFB) said overnight that 10 engines and around 70 firefighters were at the scene on Nestles Avenue.

It said a transformer within the substation is alight, but the cause is so far unknown.

Around 150 people have been evacuated and a 200-metre cordon is in place.

LFB said it had received more than 190 calls over the incident – with the first received at 11.23pm.

Residents have been urged to keep windows and doors closed due to the “significant amount of smoke”.

Scottish and Southern Electricity Networks said at 12.23am on X that a “widespread power cut” was affecting Hayes, Hounslow and surrounding areas.

However, it estimated it would be “resolved by 3am”

A graphic on the company’s website suggested around 16,000 homes were affected.

Firefighters from Heathrow, Hayes, Hillingdon, Southall and other stations are all involved in the response.

This breaking news story is being updated and more details will be published shortly.

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