CBS chief Les Moonves has resigned amid new allegations of sexual harassment and assault. COO Joe Ianniello is serving as interim chief executive. The company confirmed Moonves’ resignation as it announced it is ceasing litigation against its majority shareholder for control of the company, according to Reuters.
Alibaba executive chairman Jack Ma said he will step down in one year, to be replaced by CEO Daniel Zhang, who has been credited with turning Singles Day into a global ecommerce extravaganza. Ma said he may return to teaching, according to The Wall Street Journal.
What boycotts? Online sales of Nike products were up 31% from last Sunday through Tuesday, according to Edison Trends. That’s up from a 17% jump in the prior year. The company’s share price has gained nearly 30% this year, according to MarketWatch.
Ford pushed out a statement on Sunday refuting a tweet from President Donald Trump that claimed a model the company decided to no longer import from China could instead be built in the U.S. "It would not be profitable to build the Focus Active in the U.S. given an expected annual sales volume of fewer than 50,000 units and its competitive segment," the automaker said. Ford said in late August that it would not import the model due to tariffs.
Elon Musk’s apparent smoking of marijuana on a live podcast could become an Air Force issue. SpaceX, which Musk also runs, is a government contractor, and marijuana is not legal federally. An Air Force official told The Verge that it isn’t sure how to handle the situation.