Week in review: Grubhub, Facebook, Lime and more

This week, the U.S. unemployment rate jumped to 14.7% in April, the highest rate since the Great Depression. This is in stark contrast to the stock market, which rallied this week buoyed by the tech giants. Unsurprisingly, we continue to see a slowdown in new executive hires amid the economic uncertainty.

Week in review
Week in review
By Anne Chou
2 minute read

This week, the U.S. saw the unemployment rate jump to 14.7% in April, the highest level since the Great Depression, as a staggering 20.5 million people lost their jobs. The continued job loss affects all industry sectors, with companies from General Electric and United Airlines to Uber and Airbnb, announcing that they would lay off thousands of workers.

Unsurprisingly, we continue to see a slowdown in new executive hires with most changes occurring in C-suite roles with departures and vacancies being filled. Check out this week's most important executive changes:

Grubhub CTO Maria Belousova Steps Down

Grubhub’s CTO since 2016, Maria Belousova, left the company to start her own business outside of the online food delivery space. Read more here.

Facebook’s Libra Appoints New CEO to Spearhead Roll Out

The Libra Association, a Facebook-led effort to create a digital currency, has named HSBC executive, Stuart Levey, as its first-ever CEO. Read more here.

Lime Gains New CEO As Uber Injects More Funding

Scooter-rental startup Lime announced that Wayne Ting will serve as its new CEO, together with a new funding round led by Uber. Read more here.

Nokia Announces New President of Nokia Enterprise

Nokia announced that Kathrin Buvac, the president of the company’s B2B unit, Nokia Enterprise, will step down at the end of the month. Read more here.

Wall Street Publisher Dow Jones Names Almar Latour as New CEO

News Corp named Almar Latour, the publisher for the Barron’s Group, as the new CEO of Dow Jones and publisher of The Wall Street Journal. Read more here.


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