Nike Innovates for Mothers with New Apparel and Footwear 
Vladimir Putin’s gold strategy explains why sanctions against Russia have failed 
Economists say Australia shouldn’t try to transition to net zero by aping the mammoth US Inflation Reduction Act 
Digital trade protocol for Africa: why it matters, what’s in it and what’s still missing 
Naver Pay, Billboard Ink MOU for Fintech-Entertainment Services; Billboard Korea to Launch in June 
PUMA and Mercedes-AMG PETRONAS F1 Team Launch Crews Go Summer Collection 
S. Korea's Beer Imports Dip Amid Tsingtao Urination Incident; Japanese Brands See Resurgence 
PepsiCo Issues Recall for Schweppes Ginger Ale Over Sugar Content 
Why China’s economy has hit a wall 
Kakao Games, SM Entertainment Sign Licensing Agreement for Games Featuring K-pop Idol Groups 
OpenAI Announces Opening of Its First Office in Asia, Rolls out GPT-4 Optimized for Japanese Users 
How cuts to marginal income tax could boost the UK’s stagnant economic growth 
Food prices will climb everywhere as temperatures rise due to climate change – new research 
Amazon Ditches Its ‘Just Walk Out’ Cashierless Shopping Tech, Decides to Offer the System to Other Stores 
Be wary of the ‘vibes’: positive investor sentiment doesn’t necessarily match the true value of stocks 
Following a tumultuous year marked by executive departures, record-low ratings, and layoffs, CNN announced today that its chairman and CEO, Chris Licht, has been ousted. Licht's removal comes after a series of leadership missteps, contributing significantly to the network's ongoing struggles.
CNN Business reported that while in the CEO role, Licht also had a series of serious missteps, which have greatly contributed to the turmoil that the company had to deal with to stay in good standing in the industry. The disorganization that summarized the unfortunate events at CNN last year spilled to this year as the company continues to face more issues.
The outgoing CNN chief was only appointed in May 2022, and he did not have it easy, as his leadership has been criticized throughout his tenure. Even if there were some successes under his wing, the criticisms did not stop because of the leaks coming from employees in the office who did not fully trust his leadership or believe his vision.
The last straw that led to his departure was the article that was published by The Atlantic magazine late last week. The author of the piece titled "Inside the Meltdown at CNN," Tim Alberta, interviewed more than 100 staff at the cable network who commented about Licht's ability to lead the company.
A number of feedbacks were not pleasant, and Licht tried to recover his footing after the article's publication. He issued an apology to the employees and vowed to do everything to win their trust. However, it became apparent that he could no longer continue, and the end of his service was at hand.
On Wednesday, June 7, Licht was told that he was terminated from his role as CNN's chairman and CEO. As he is being relieved from his duties, the cable network announced that Kris Coratti Kelly from the communications department, Matt Dornic, and Devan Cayea, who is Licht's chief of staff, are also leaving.
"For a number of reasons, things did not work out and that's unfortunate," David Zaslav, CEO of Warner Bros. Discovery, said during the company meeting on Wednesday regarding the executive departures. "Chris poured his heart and soul into this job and it is really unfortunate. And ultimately that is on me. And I take full responsibility for that."
Photo by: Rubaitul Azad/Unsplash
