Kevin Hart has become CEO of his entertainment company, Hartbeat Productions. Two CEOs left the company within 15 months, while nearly 20 employees were dismissed during the same period. The CEO’s exits were due to differences of opinion over the company’s strategic direction. However, they left the company on good terms, according to Bloomberg. Layoffs in Hollywood These layoffs speak to the challenges all independent production companies are experiencing during Hollywood’s time of austerity. Production companies struggle to sell many shows, forcing major studios and networks to limit their output
After 20 years, Mellody Hobson will leave her board role at Starbucks. Hobson’s career at Starbucks began after she was recruited to serve on the Board by Howard Schultz in 2005; she became vice chair, chair, and independent director. “On behalf of everybody at Starbucks — and every partner who has gone before — thank you, Melody, for your leadership, your tremendous care, your passionate support, and for being a loyal shareholder,” Chairman and Chief Executive Officer Brian Niccol said in a statement to partners. Hobson at Starbucks Hobson spent
Lidiane Jones will step down from her role as CEO of Bumble Inc. and Founder and Executive Chair; Whitney Wolfe Herd will step in Jones’ place. Herd will transition to Chief Executive Officer, effective mid-March 2025. Jones said she is leaving her role due to personal reasons, according to a press release. “Bumble has made tremendous progress over the past year in building a platform for renewed, sustainable growth, and I will be forever proud of the work we’ve done for this beloved global brand,” Jones said. Whitney Wolfe Herd
John Hope Bryant, CEO of Bryant Ventures and Operation HOPE, has donated $1.8 million to support the entrepreneurial ambitions of 70 Albany State University (ASU) graduates. Each recipient will receive $25,000 and extensive business resources to launch their ventures. $1.8M Grant to Boost Black Entrepreneurship The selected graduates will receive financial backing and also a “special forces team” offering tools like free domain names, Shopify accounts, and access to legal and financial experts. ““They get a free domain name that they own, a free website that they own, a free
Three former Duolingo executives have secured $13 million in seed funding to launch a startup aimed at making college more accessible, as first reported by TechCrunch. The funding round, led by Khosla Ventures, also saw participation from Karman Ventures, Latitud Ventures, Lightspeed Ventures, and several angel investors. The funds will be directed toward hiring and product development for the initiative, which remains in stealth mode. A Mission Rooted in Personal Experience The team, which includes Jorge Mazal (CEO), Daniel Falabella (Chief Product Officer), and Gina Gotthilf (Chief Marketing Officer), is
Dean Forbes, CEO of software company Forterro, has claimed the top spot on the UK’s Powerlist 2025, recognizing him as the most influential Black individual in Britain. Known for his rise from homelessness to the helm of a €2 billion software company, Forbes’ journey has been seen as one of remarkable perseverance, entrepreneurial spirit, and philanthropy. Transforming Challenges into Career Milestones Forbes born in southeast London in 1978, recalls a challenging upbringing with financial hardships and a mother battling muscular dystrophy. As a teenager, he navigated periods of homelessness but maintained
Two of the most influential Black business leaders in the US are calling on companies to rethink scaling back their diversity, equity, and inclusion (DEI) efforts, according to CNN. Ken Frazier, who served as CEO of Merck from 2011 to 2021, was the first Black CEO of a major pharmaceutical company. Ken Chenault, CEO of American Express from 2001 to 2018, was only the third Black CEO of a Fortune 500 company. The leaders warned that reducing DEI efforts could limit opportunities for future generations of leaders facing racial and
Carver Bancorp, one of the nation’s oldest and largest Black-owned banks, has announced Donald Felix as its new president and CEO, effective November 1, 2024. Felix, a 25-year veteran of the banking industry, steps into this leadership role following a challenging year for the institution, which included a hostile takeover attempt. The announcement, made September 16, 2024, comes as Carver looks to stabilize and grow under Felix’s guidance. A New Chapter in Leadership Donald Felix succeeds Craig MacKay, who served as interim CEO since October 2023 following the departure of
Red Lobster, the iconic seafood chain, has officially exited Chapter 11 bankruptcy following its acquisition by RL Investor Holdings LLC, a group backed by Fortress Investment Group. The company has named 35-year-old Damola Adamolekun as its new CEO, marking a milestone in both the restaurant’s history and the career of this rising Black business leader. New Leadership Ushers in a Fresh Chapter for Red Lobster With a new ownership structure in place and fresh leadership at the helm, Red Lobster is positioning itself for a comeback. Adamolekun, who previously served
Beautiful Curly Me, an Atlanta-based toy, media and STEM company founded by 12-year-old Zoe Oli, is expanding with the launch of a new line of plush dolls in Target stores nationwide. This expansion makes Zoe the youngest CEO to introduce a toy brand at Target. The new line, called The Curly and Confident Crew, features unique dolls with natural curly hair that can be styled. Promoting STEM and Empowerment In addition to their design, the Curly and Confident Crew dolls comes with a message that encourages girls to explore their
