Week in review
This week, we continue to see companies in hard-hit industry sectors, such as Expedia and Casper, take actions to restructure their executive leadership, conserve cash, and position their businesses to weather the turmoil amid the coronavirus outbreak.
While startups have been pummeled with over 20K layoffs, some companies that have seen increased demand during the crisis, such as TikTok and Twitch, hired new executives. Read more about this and other notable executive changes.
Expedia Names New CEO and CFO, Raises $3 Billion Financing Package
Expedia Group named its vice chairman, Peter Kern, as its new CEO, and company veteran Eric Hart as its new CFO, four months after the travel booking site’s previous CEO and CFO departed. Read more here.
Hulu’s Nick Tran is Leaving to Join TikTok as Head of Marketing for North America
Nick Tran, VP of brand marketing and culture, at Disney-owned streaming service Hulu, is leaving to join popular Chinese social networking video app TikTok as head of marketing for North America. Read more here.
Casper Lays Off 21% of Corporate Workforce, Including COO and CFO
PG&E Chief Executive Bill Johnson to Retire at End of June
PG&E chief executive Bill Johnson will retire at the end of June, when the company is expected to emerge from its bankruptcy case stemming from its role in a series of deadly California wildfires. Read more here.
Spotify’s Tracy Chan Moves to Twitch to Lead Product and Engineering for Music
Twitch has hired Spotify’s director of product administration, Tracy Chan, as its new head of product and engineering for music - a move that further establishes its move into live music streaming. Read more here.