Biden Hopes More Testing Will Avert Omicron Locdowns


Vlad Tenev of Robinhood: Few companies and C.E.O.s have disrupted Wall Street like Robinhood and Tenev, particularly in 2021. First there was the meme stock rally. Later, a nearly $32 billion I.P.O., in which Robinhood sold as much as a third of the shares directly to its customers through its app. Not everyone is a fan: Tenev was memorably grilled by Congress, and in June, Robinhood was fined $70 million by FINRA — the largest imposed penalty in the regulator’s history — over accusations that it misled customers and the authorities. After its rocky I.P.O., the company’s shares have sunk to $18 each, or less than half of their offering price.

Mark Zuckerberg of Meta: Zuckerberg transformed the social media giant this year in more than one way — including literally, when he changed its name to Meta from Facebook to allude to the “metaverse,” the virtual world that he has called the future of the internet. He also pushed Meta to be more aggressive in responding to controversies, including a trove of leaked internal documents that outlined how much the company knew about harmful effects of its products, questions about its role in spreading misinformation that contributed to the Jan. 6 Capitol riot, and an antitrust lawsuit filed by the Federal Trade Commission.

Jane Fraser of Citigroup: Fraser took the helm of the banking giant in March. She shook up its culture, instating “Zoom-free Fridays” and promising that most employees would be able to work from home two days a week on a permanent basis. But Citi’s shares are still underperforming those of its competitors, and most of Fraser’s enormous turnaround job still lies ahead.

The pandemic stock leaders: If 2022 turns out to be a return to normal, the C.E.O.s of the companies that saw the biggest boost from the pandemic might be the ones trying to figure out how to stay afloat. Shares of Peloton have fallen 61 percent over the past three months, while those in Moderna and Zoom have sunk about 30 percent each in the same period. Peloton’s chief, John Foley, must reverse a sales slump driven by gym reopenings. Zoom’s C.E.O., Eric Yuan, must convince investors that its core video-conferencing software can adapt to a new era of hybrid work. And while the spread of the Omicron variant of the coronavirus may amplify demand for boosters, Moderna’s leader, Stéphane Bancel, must prove that his company has more than one viable vaccine.

New on the job: Two Black women took over Fortune 500 companies: Rosalind Brewer was picked to run Walgreens in March — and has moved the pharmacy chain further into health care and away from retail, while Thasunda Brown Duckett, a top JPMorgan Chase executive, began leading the finance giant TIAA in May. Andy Jassy replaced Jeff Bezos as Amazon’s chief in July, and must now fend off fierce scrutiny from regulators on everything from antitrust to workplace safety. And Parag Agrawal, who became Twitter’s C.E.O. in November, will have to prove that he can deliver on the social network’s ambitious growth targets.

R.J. Scaringe of Rivian: After nearly 10 years in stealth mode and holding one of the biggest I.P.O.s of this year, Scaringe’s vehicle maker is under pressure to deliver on its promise of doing for electric trucks what Tesla did for electric cars. Despite having sold just 386 vehicles as of last week, Rivian’s market cap is now bigger than that of Ford (an investor) and on par with that of General Motors. Scaringe has big expansion plans next year, including breaking ground on a $5 billion factory in Georgia and producing 100,000 delivery vehicles for Amazon, another investor.



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