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Unilever surprised investors on Tuesday by ousting chief executive Hein Schumacher and replacing him with finance chief Fernando Fernandez, who will focus on speeding up the execution of the consumer group’s turnaround strategy. Unilever’s board, which includes billionaire activist investor Nelson Peltz, was unified in its decision to oust CEO Schumacher, a source familiar with the board’s thinking told Reuters. Schumacher was surprised by the move, but the decision involved “nothing untoward”, the person said. In an email to associates, Schumacher defended his approach and record as CEO and said he regretted leaving the company earlier than anticipated. “…

Denny’s is the latest restaurant chain to add a temporary egg surcharge due to the rising cost of eggs caused by a nationwide shortage and the current bird flu outbreak. Last month, Waffle House added an upcharge of 50 cents per egg. Meanwhile, many supermarket chains, including Trader Joe’s, Market Basket, and big-box retailers including Walmart, Costco, and Sam’s Club, have raised prices and limited the number of cartons shoppers can buy. “This pricing decision is market-by-market, and restaurant-by-restaurant due to the regional impacts of the egg shortage,” Denny’s told Fast Company in a statement. “We will continue to look for ways to provide options on our m…

CAVA hopes to expand its physical footprint after a year of financial success, CEO Brett Schulman announced in the company’s fourth quarter earnings call Tuesday. Over the 2024 fiscal year—CAVA’s first full calendar year as a public company—the Mediterranean fast-casual restaurant chain saw a revenue growth of 28.3% and delivered four straight quarters of free cash flow. And after opening 58 new restaurants this past year, the company anticipates new market openings in Detroit, South Florida, Pittsburgh, and Indianapolis. “We’re very excited to continue to grow those markets and build upon the presence we have in existing regions,” Schulman tells Fast Company. …

The eyes might be the window to the soul, but how their overall health impacts our own souls is rarely discussed. VSP Vision Care, an eye insurance company, partnered with Workplace Intelligence to survey 800 HR leaders and 800 full-time employees in the United States about the state of their eye health. Here are the key findings: We live on our screens: In a typical week, employees report spending 97 hours on screens, which translates to 210 days a year. Thirty-four of these hours are on a computer for work, 17 on a computer for personal use, 23 hours watching TV, and 23 hours on a cellphone. The majority of people have at least one eye problem: 63% of respo…

Scientists have finally given the all-clear to Earth from a newly discovered asteroid. After two months of observations, scientists have almost fully ruled out any threat from the asteroid 2024 YR4, NASA and the European Space Agency said Tuesday. At one point, the odds of a strike in 2032 were as high as about 3% and topped the world’s asteroid-risk lists. ESA has since lowered the odds to 0.001%. NASA has it down to 0.0017% — meaning the asteroid will safely pass Earth in 2032 and there’s no threat of impact for the next century. Paul Chodas, who heads NASA’s Center for Near Earth Objects Studies, said there is no chance the odds will rise at this point …

There’s a new entrant in the scam hall of fame. The Chengdu Snow Village—a newly opened destination in the suburban Chengdu, Sichuan province—advertised a picturesque snow landscape for guests to enjoy during the Lunar New Year celebrations last month. Photos of the event resembled scenes from a Christmas card, featuring thick layers of snow blanketing log cabin roofs. However, unseasonably warm weather meant the main feature was a no-show. Rather than canceling the events, organizers got creative. White sheets were stapled to cabin roofs, white sand and large cotton wool sheets were scattered across the grounds, and soapy foam drifted through the air in a feeble …

Pop quiz: Which two Super Bowl ads were created by Artists Equity Advertising, the commercial creative arm of Ben Affleck and Matt Damon’s studio Artists Equity? Hint: It was the two starring… Ben Affleck and Matt Damon. The big game ads for both Stella Artois and Dunkin were excellent vehicles for both actors. But they’re also the rare occurrence of major advertising investment—which goes well beyond the $8 million just for Super Bowl airtime—going to a boutique creative shop run by Hollywood A-listers. However, this is not a story about Super Bowl ads. It’s about Artists Equity’s approach to capitalizing on the increasingly aligned interests of Hollywood a…

Toyota announced plans to restructure its board on Tuesday in what it described as an attempt to bring in more diverse views and give a larger roles to auditors. Among six appointments is Christopher Reynolds, now an executive in the automaker’s North American operations. As a lawyer, and son of a Ford worker, he brings experience in human resources and risk management, according to Toyota. The number of women on the 10-person board will grow from one to two with the appointments of Kumi Fujisawa, an independent outsider and entrepreneur, and Hiromi Osada, previously a Toyota auditor. George Olcott, previously an auditor, will also join the board. The number of outside…

Many things remain uncertain about AI’s future impact on our lives. One that isn’t in doubt is that more and more of the world’s software will be written, at least in part, by software. Already, 25% of Google’s code is generated by AI, CEO Sundar Pichai said last October. By 2028, projects research firm Gartner, 75% of enterprise developers will use AI tools in their work. This trend is reflected in programmers’ embrace of products such as GitHub Copilot and Cursor, which let them call on generative AI to fill in some of the specific code as they tackle a project—essentially a fancy form of autocomplete for software engineering. The next step beyond that is AI coding …

A new album called “Is This What We Want?” features a stellar list of more than 1,000 musicians—and the sound of silence. With contributions from artists including Kate Bush, Annie Lennox, Cat Stevens, and Damon Albarn, the album was released Tuesday to protest proposed British changes to artificial intelligence laws that artists fear will erode their creative control. The U.K. government is consulting on whether to let tech firms use copyrighted material to help train AI models unless the creators explicitly opt out. Critics of the idea fear that will make it harder for artists to retain control of their work and will undermine Britain’s creative industries. Elton Joh…

Today, February 25, is a make-or-break day for Super Micro Computer (aka Supermicro) and its stock, which trades on the Nasdaq under the SMCI ticker. That’s because by the end of today, the beleaguered server company needs to file its delinquent Form 10-K with the U.S. Securities and Exchange Commission (SEC). If it fails to do so, the company’s shares may be delisted from the Nasdaq. Here’s what you need to know about its stock price ahead of the deadline and the possible outcomes should Super Micro Computer fail to meet its requirements. SMCI stock price sinks ahead of filing deadline As of the time of this writing, in early trading SMCI’s stock price is down…

Home Depot broke a two-year slump in same store sales during the fourth quarter as customer demand improved in a housing market that has been buffeted by soaring mortgage rates and a scarcity of homes up for sale. Revenue for the Atlanta company climbed to $39.7 billion from $34.79 billion. Analysts polled by FactSet were calling for $39.15 billion. Home Depot Inc. said Tuesday that the extra week in the quarter added approximately $2.5 billion in sales for the period. Sales at stores open at least a year, a key indicator of a retailer’s health, edged up 0.8%. In the U.S., comparable store sales rose 1.3%. It is the first quarterly increase since January 2023 and much …

The airline industry is notoriously hard to decarbonize: large jets traveling long distances can’t feasibly use batteries, and sustainable aviation fuel is still only produced in tiny volumes. As airlines explore a range of options, United Airlines Ventures’ Sustainable Flight Fund just invested in one possible solution—a system that uses crushed rocks to capture CO2 for use in fuel or to store underground. The fund announced today that it invested an unspecified amount in Heirloom, a company that uses a powder made from limestone to pull CO2 from the air, relying on the material’s natural ability to absorb the greenhouse gas. At a facility in California’s Central…

An annual United Nations conference on biodiversity that ran out of time last year will resume its work Tuesday in Rome with money at the top of the agenda. That is, how to spend what’s been pledged so far—and how to raise a lot more to help preserve plant and animal life on Earth. The talks in Colombia known as COP16 yielded some significant outcomes before they broke up in November, including an agreement that requires companies that benefit from genetic resources in nature—say, by developing medicines from rainforest plants—to share the benefits. And steps were taken to give Indigenous peoples and local communities a stronger voice in conservation matters. But two w…