Longtime ConocoPhillips CEO Ryan Lance will step down in September, remaining in the executive chairman role, and opening the door for chief financial officer Andy O’Brien to take over as CEO. bit.ly/4c6BJmJ
Fortune 500
@Fortune500
Explore the top companies in America with the FORTUNE 500, a name synonymous with business success.
- McDonald’s has named a new president, Skye Anderson, to lead its mammoth but sluggish U.S. business after its bet on cheaper items enticed fewer cash-strapped Americans than expected, even as consumers grapple with an affordability crisis. bit.ly/4geGdKw
- Amazon CEO Andy Jassy told investors during Thursday’s earnings call that Amazon now expects to spend $220 billion in capital expenditures in 2026. Even at the elevated level, however, Jassy said Amazon still won’t “have enough capacity to meet all the demand we have in 2026.”
- Amazon is now the world’s biggest company, but its founder Jeff Bezos once doubted the business would survive. bit.ly/4h7Cf7x
- Apple said it is facing severe supply constraints that will affect sales of iPhones and Macs in the months ahead, underscoring the challenges looming over the company as Tim Cook prepares to hand over the CEO reins. bit.ly/3RMEPWb
Get the full app experience
Unlock more features and see what people are talking about right now.