Appointments and Executive Changes

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      Peloton CEO Barry McCarthy Steps Down as Company Cuts 15% of Workers

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      Barry McCarthy took over as C.E.O. in February 2022 to revive Peloton from its late-pandemic slump, but the company has struggled to become profitable.Peloton said on Thursday that its chief executive, Barry McCarthy, was stepping down and it would lay off more workers, as it continued to struggle in the fitness market.The connected-fitness company announced disappointing quarterly earnings on Thursday, with revenue down 4 percent from last year. The company, which has not turned a profit since December 2020, is also looking to refinance more than $1 billion in debt.Peloton had a spectacular rise at the start of the pandemic, when gyms and fitness centers closed and consumers were hungry for at-home workout options. But after gyms reopened, Peloton began to face stiffer competition from companies like Bowflex and Lululemon.Barry McCarthy, a former Spotify and Netflix executive, joined Peloton in 2022.Kevin Dietsch/Getty ImagesIt is reducing its head count by 15 percent, or 400 workers, in an effort to cut its costs this year by $200 million. Peloton has had several other rounds of job cuts in the past couple of years, most recently in October 2022, when it laid off about 12 percent of employees, or about 500 people.“Hard as the decision has been to make additional head count cuts, Peloton simply had no other way to bring its spending in line with its revenue,” Mr. McCarthy said in a statement.Investors appeared optimistic about the news; Peloton’s stock price rose about 9 percent in premarket trading.The company said it was looking to reduce its retail footprint and instead invest in “software, hardware and content portfolio and in improvements” for paying subscribers. Mr. McCarthy, a former Spotify and Netflix executive, joined Peloton in February 2022, taking over from the company’s founder, John Foley. Two board members, Karen Boone and Chris Bruzzo, will serve as interim co-chief executives. More

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      Humza Yousaf Resigns as Scotland’s First Minister

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      Mr. Yousaf, the leader of the Scottish National Party, announced that he was stepping down, days after the collapse of his coalition government.Scotland’s first minister, Humza Yousaf, resigned on Monday in the latest setback for his Scottish National Party, which has been engulfed in a slow-burn crisis over a funding scandal that erupted after its popular leader Nicola Sturgeon stepped down last year.Mr. Yousaf’s departure had looked increasingly inevitable after he gambled last week by ending a power sharing deal with the Scottish Green Party, angering its leaders and leaving him at the head of a minority government without obvious allies. His opponents then pressed for two motions of no confidence, which were expected to take place later this week.Having explored his options over several fraught days, Mr. Yousaf, who was Scotland’s first Muslim leader, said that he would quit in a speech on Monday at Bute House in Edinburgh, the official residence of the Scottish first minister.“After spending the weekend reflecting on what is best for my party, for the government and for the country I lead, I have concluded that repairing our relationship across the political divide can only be done with someone else at the helm,” Mr. Yousaf said in a short and at times emotional statement.He added, “It is my intention to continue as first minister until my successor is elected.”His resignation came after little more than a year as leader of the S.N.P., which has dominated the country’s politics for more than a decade and which campaigns for Scottish independence.Mr. Yousaf took over after the surprise resignation of Ms. Sturgeon, a prominent figure in Britain’s politics, who announced her departure in February last year. At the time Mr. Yousaf was seen as the continuity candidate.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Paramount Chief Executive Bob Bakish Could Be Out Next Week

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      He was once a staunch ally of the company’s biggest owner, Shari Redstone, but the relationship soured in recent months.Paramount is preparing to announce the departure of its chief executive, Bob Bakish, as soon as next week, according to three people with knowledge of the matter, a sudden development even as the company is exploring a merger.The impending move is a result of Mr. Bakish’s worsening relationship with Shari Redstone, the company’s controlling shareholder, the people said, asking not to be identified discussing a delicate matter. Ms. Redstone grew frustrated with what she saw as his inability to get important deals across the finish line, including a sale of the Showtime and BET cable channels, the people said.Two people familiar with the matter said several of Paramount’s senior executives had expressed reservations about the direction of the company to a representative of the board of directors in recent weeks, further eroding Mr. Bakish’s standing with Ms. Redstone.The company is in talks to merge with Skydance, a media company controlled by David Ellison, the tech scion and Hollywood producer. It is also negotiating a lucrative deal to keep channels like Nickelodeon and MTV on the Charter cable system.National Amusements, Paramount’s owner, is contemplating various options to replace Mr. Bakish, 60, who has led Paramount and its predecessor company, Viacom, since 2016 and has worked at the company since 1997. In one possibility, Paramount would be run by an “office of the C.E.O.” led by division chiefs like Brian Robbins, the head of the Paramount movie studio; George Cheeks, the top executive of CBS; and Chris McCarthy, president of Paramount’s entertainment and youth brands. The company could also choose to put an acting chief executive in place.Paramount declined to comment. The Wall Street Journal earlier reported that Paramount’s board was considering replacing Mr. Bakish.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Mayor Adams Pushes Out Chairwoman of Police Oversight Board

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      Arva Rice was asked to resign after she criticized police handling of a fatal shooting investigation and requested more money and power to investigate misconduct.The interim chairwoman of an independent police oversight panel who had fiercely criticized the Police Department will step down at the request of Mayor Eric Adams, according to three people familiar with the matter.The official, Arva Rice, has chaired the panel, the Civilian Complaint Review Board, since Mr. Adams installed her in February 2022, calling her “a champion for equity and justice.”But she has drawn the anger of police officials for criticizing delays in handing over evidence in the fatal shooting of a Bronx man in his home five years ago — and for requesting a larger budget and more power to investigate complaints against police officers.Ms. Rice was appointed interim chairwoman of the oversight panel in February 2022.Johnny Nunez/Getty Images for NYULThe resignation request was delivered by Mr. Adams’s deputy mayor for public safety, Philip Banks III, who served as the Police Department’s top uniformed officer before resigning under the cloud of a federal corruption investigation in 2014, according to two of the people, who spoke on condition of anonymity to discuss internal City Hall personnel matters. Mr. Banks was never charged.Ms. Rice, who also serves as president and chief executive of the New York Urban League, is expected to comply with the request in coming weeks, the people said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      A Steadying Force for The Africa Center is Stepping Down

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      Uzodinma Iweala, chief executive of the Harlem institution, will leave at the end of 2024 after guiding it through pandemic years and securing funds.After guiding The Africa Center through rocky pandemic years and securing a huge chunk of funding for a major construction project, the leader of the Harlem institution is stepping down.Uzodinma Iweala, who is in his seventh year as chief executive of the Africa Center, will depart at the end of 2024.Iweala’s leadership helped to settle an institution with a tumultuous past of various mandates, locations and even names. It was formerly known as the Museum for African Art, which The New York Times’s co-chief art critic, Holland Cotter, called the “source of some of the most conceptually daring exhibitions of its era,” and before that, the Center for African Art. Faced with a delayed opening date during the pandemic, Iweala expanded its programming to include lectures and visits from heads of state, outdoor dance parties, films and author talks. All of it was aimed at connecting with the African diaspora and changing the way Americans interact with the African continent.Iweala, who as a writer and medical doctor has a nontraditional background for an arts institution leader, said he planned to focus on new creative projects including finishing a book. His multifaceted background and personal history — he is Nigerian-American and has lived in Nigeria — were regarded by many in the arts community as a good fit for an institution trying to transform itself into more than a museum or gallery. In an interview last year, the Studio Museum in Harlem’s Thelma Golden called him “visionary.”“I’m really proud of what we’ve been able to build over the past few years, especially in a challenging environment,” Iweala said. “It’s the right time to leave for me and for the institution.”Under Iweala, the Center has partnered with the Museum of Food and Drink on an exhibition as well as independent curators to offer “States of Becoming,” a 2022-23 exhibition that featured 17 African artists from the continent and diaspora. He partnered with the University of Cape Town to help organize a media index to track how Africa is covered in the media and created the Future Africa Forum that offered discussions with presidents, philanthropists and other leaders during the U.N. General Assembly meetings in New York.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Stanford’s New President Is Jonathan Levin, Dean of Business School

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      Dr. Levin faces the challenge of guiding the university through politically fraught times.Stanford University’s next president will be Jonathan Levin, an economist who currently serves as dean of the graduate business school and whose association with the university dates back to his undergraduate days in the 1990s.Dr. Levin’s selection, announced on Thursday, was based partly on his deep understanding of the university’s culture, the school said.His appointment is also viewed as a stabilizing force, as Stanford faces turmoil stemming from protests over the Israel-Hamas war, as well as controversy over a predecessor, Marc Tessier-Lavigne, who resigned as president last summer amid questions about the quality of scientific research that was conducted in labs he supervised.Jerry Yang, the technology entrepreneur who is the chair of Stanford’s board of trustees, said that the selection committee chose Dr. Levin, 51, as someone who could chart a course for the university during these politically fraught times.The trustees held dozens of listening sessions, Mr. Yang said. “People wanted someone with a very distinguished academic record, somebody who has a deep familiarity with Stanford, understanding our spirit and culture,” he said on Thursday. “And they wanted someone with deep integrity.”In choosing Dr. Levin, who serves on a White House advisory panel on science and technology, Stanford’s 20-member search committee also picked someone steeped in the world of academia.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Whitney Museum Names Chief Curator

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      Kim Conaty will steer exhibitions and the permanent collection, saying she will pay close attention to work by Latino and Indigenous artists.When Scott Rothkopf, the former deputy director and chief curator of the Whitney Museum of American Art, stepped up as director of the New York institution last fall, he knew he would have to hire his replacement in the curatorial area. That role — one of the most influential in the contemporary art world — will be filled, effective next week, by Kim Conaty, the museum’s curator of drawings and prints since 2017. In her new position she will steer the institution’s permanent collection and acquisitions, as well as its exhibitions and conservation activities.Conaty has a reputation for creating shows that please critics and crowds alike. Her celebrated 2022-2023 exhibition “Edward Hopper’s New York” was among the best-attended in the museum’s history, while the 2023-2024 exhibition of drawings by Ruth Asawa that she organized with another curator was lauded as “revelatory” by The New York Times. As the chief curator, Conaty said she plans to focus on Latino and Indigenous artists, who remain underrepresented in the Whitney’s collection, and invest in emerging talent. But she also intends to slow down the pace of collecting. “Gifts are not free,” she said, referring to the cost of storing and preserving artworks. “We’re being extremely intentional about how we’re building the collection.”The Whitney has seen significant turnover in recent years. In addition to the departure of its longtime director, Adam D. Weinberg, two high-profile curators — David Breslin and Jane Panetta — decamped for roles at the Metropolitan Museum of Art, while its chief advancement officer, Pamela Besnard, retired last year. Rothkopf has made several new appointments, including promoting the curator Adrienne Edwards to a newly created leadership role as senior curator and associate director of curatorial programs. The chief financial officer I.D. Aruede was promoted to deputy director.A few weeks ago, Rothkopf had his first taste of controversy as director when the museum was seemingly caught unaware that the artist Demian DinéYazhi’ had slipped a “Free Palestine” message into a flickering neon sign in the Whitney Biennial, which opened on March 20.Asked about how he and Conaty plan to navigate such bumps in the future, he said, “In appointing Kim, it was important to think about someone who had the sensitivity interpersonally and the intellectual sophistication to help navigate the times that we’re in — I’m not going to be coy about that. These are key attributes for someone at a museum like the Whitney, which is so committed to the art and the ideas of our moment.” More

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      Klaus Mäkelä to Lead Chicago Symphony Orchestra

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      He will be the youngest music director in the orchestra’s 133-year history, and one of the youngest ever to lead a top American ensemble.The Chicago Symphony Orchestra, which has been led for decades by conducting titans including Georg Solti, Daniel Barenboim and Riccardo Muti, announced Tuesday that its next music director would be Klaus Mäkelä, a 28-year-old Finnish conductor whose charisma and clarity have fueled his rapid rise in classical music.When he begins a five-year contract in 2027 at 31, Mäkelä will be the youngest maestro in the ensemble’s 133-year history, and one of the youngest ever to lead a top orchestra in the United States.Mäkelä, who will become music director designate immediately, said in an interview that he did not think his age was relevant, noting that he had been conducting for more than half his life, beginning when he was 12.“I don’t think about it,” he said. “Music doesn’t really have any age.”Mäkelä, who will also take over as chief conductor of the Royal Concertgebouw Orchestra in Amsterdam in 2027, said he was joining the Chicago Symphony because it has “that intensity — that same sound from the past.”“You felt as if anything you would ask, they could actually improve and do more,” he said, recalling his recent guest appearances there. “For a conductor, that is a very, very special feeling because you see that there really are no limits to what you can achieve.”Mäkelä making his debut conducting the New York Philharmonic in December 2022.Chris LeeWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More