Actionable news
0
All posts from Actionable news
Actionable news in GOOG: Google Inc.,

9 Times Executives Were Poached

AAL, Apple Inc. NASDAQ:AAPL - 9 Times Executives Were Poached

United Continental Holdings Inc UAL 0.39% has stepped in and snatched up former American Airlines Group Inc AAL 0.8% president Scott Kirby.

Luring talent from the workforce of competitors is known as “poaching,” and it’s certainly nothing new on Wall Street, especially in the tech world. Here’s a look at some other companies that have made poaching news in recent years.

Tesla Motors Inc TSLA 1.49% poached an entire team of chip makers and executives from Advanced Micro Devices, Inc. AMD 2.18% earlier this year to help work on the next-generation autopilot feature.

Last year, Apple Inc. AAPL 0.94%, Google, Intel Corporation INTC 0.17% and Adobe Systems Incorporated ADBE 0.65% had to pay a $415 million settlement regarding an illegal anti-poaching pact that the companies had entered into to suppress executive pay levels.

When Apple wanted to focus on repackaging its retail stores, the company reached outside of the tech world to poach Burberry CEO Angela Ahrendts.

Earlier this year, Apple hired former Tesla VP of vehicle engineering Chris Porritt to work on “special projects.”

In 2014, Samsung SSNLF subsidiary Joyent poached Cisco Systems, Inc. CSCO 0.79% executive Scott Hammond to be the company’s new CEO.

In April, Nestle named former head of German healthcare group Fresenius, Ulf Mark Scheider, the new CEO of Nestle.

In December 2015, Sothebys BID 1.67% announced it had poached auction rival Christies’ chairman and president of the Americas Marc Porter.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.