Boeing CEO Dave Calhoun to Step Down Amid Safety Crisis
Dave Calhoun, the CEO of Boeing, has announced his resignation, marking the end of his tenure at the helm of the aerospace giant by the year's end
Herbert Stepic, CEO of Raiffeisen Bank International, one of the largest banks operating in Eastern Europe, has offered to resign after his personal investments in Asian real estate came under increasing scrutiny.
He said in a statement, he made the decision because inquiries into his investments and recent news reports about them threatened to damage Raiffeisen's reputation.
Earlier this week, an Austrian magazine reported that Stepic used companies in the British Virgin Islands - Yatsenko Int, and Hong Kong - Takego Holdings, to buy property offshore without informing his employer.
The information stems from the journalists' investigation known as Offshore Leaks.
In the statement, Stepic explained that the companies mentioned by the reports were not "offshore constructions" and all the investments were made with income that had already been taxed in Austria.
"Secondly, these are actual real estate investments that were processed through investment companies. I have no reservations in disclosing these facts to the relevant authorities," he said.
Stepic built his reputation in Austria's banking sector when he started Raiffeisen's expansion into Eastern Europe, a step that turned a local Austrian lender into one of the biggest banks in the region. Raiffeisen opened its first business in Eastern Europe in 1987, in Hungary, years before the collapse of Communism in 1989.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
CIA Director William Burns has issued a stark warning, asserting that Ukraine may face defeat in its war against Russia by the end of this year if the United States does not step up its military assistance
EU Commissioner for Home Affairs Ylva Johansson conducted an inspection of border control measures at Sofia Airport, marking a significant step in Bulgaria's accession to the Schengen Area by air
Romania is making strides toward joining the Visa Waiver Program, a significant milestone that would enable its citizens to travel to the United States visa-free for up to 90 days
More than 100 pro-Palestinian demonstrators were arrested Thursday night at Columbia University in New York City
A Russian airstrike on the city of Dnipro in central Ukraine has resulted in the loss of at least eight lives and left 21 individuals wounded
Ukraine's military announced the destruction of a Russian Tu-22 strategic bomber, allegedly involved in nighttime airstrikes targeting Ukrainian cities
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022