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Apple to cut hiring for some divisions; CBS names head of China operations

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Apple to cut hiring for some divisions; CBS names head of China operations

S&P Global Market Intelligence presents a weekly rundown of executive changes in the U.S. technology, media and telecommunications industries.

* Apple Inc. will reduce hiring for some divisions amid weaker-than-expected iPhone sales and reduced revenue forecast for the fiscal 2019 first-quarter revenue, Bloomberg News reported Jan. 16, citing sources familiar with the details. The announcement was made at a company meeting earlier this month by Apple CEO Tim Cook, the sources said.

* Nexstar Media Group Inc.'s board extended the employment agreement of President and CEO Perry Sook through Feb. 28, 2023. Sook has also served as chairman since he founded the company in 1996.

* Jon Biro is stepping down as CFO of Harte Hanks Inc. Biro will remain with the company through Feb. 28 to help facilitate a smooth transition, according to a Jan. 16 news release.

* AutoWeb Inc. appointed Dan Ingle to the newly created position of COO. Ingle was most recently vice president of international business development at Cox Automotive Inc., according to a Jan. 16 news release.

* Snap Inc. CFO Tim Stone is leaving the company to pursue other opportunities. Stone's last day in office is yet to be determined, and he will continue to serve as CFO at Snap to assist in the search for a replacement and the transition of his duties.

* Zaheed Kajani joined Evercore Inc.'s investment banking business as a senior managing director. In this role, Kajani will work to advise clients in the internet and digital media sector, according to a Jan. 15 news release.

* Lazard Ltd. named Jason Hutchinson managing director in its middle-market telecommunications, media and technology group. Hutchinson is based in San Francisco. He previously worked at Oppenheimer & Co. Inc. as managing director and head of global technology M&A and at Houlihan Lokey Inc. as head of technology M&A.

* Film company Lions Gate Entertainment Corp. is laying off staff and shuttering Codeblack Films, a unit that makes movies geared toward African-American audiences, Variety reported Jan. 11. According to the report, all 26 jobs at Codeblack Films will be eliminated. Some of the Lions Gate cuts will come from the New York office, as the company focuses on its Santa Monica, Calif., headquarters.

* Envestnet Inc. has consolidated its operations into two business units: Envestnet Wealth Solutions and Envestnet Data & Analytics. Bill Crager, who currently leads the enterprise business, will lead the wealth solutions group as CEO. Stuart DePina will serve as CEO of the data and analytics group after having led Envestnet's Tamarac business.

* Meredith Corp. promoted Michael Korr to vice president and general manager of FOX5 Las Vegas (KVVU-TV). He will replace Todd Brown, who was promoted to local media group senior vice president and chief revenue officer in October 2018, according to a Jan. 11 news release. Korr most recently served as general sales manager.

* CBS Corp. appointed Lawrence Liding to a newly created position as head of its China operations, effective Feb. 20. Liding will work closely with CBS President and acting CEO Joseph Ianniello, Chief Creative Officer David Nevins and head of CBS global distribution, Armando Nuñez, to extend the CBS brands and grow the company's business in China, while also creating new opportunities for the company's U.S.-based businesses, according to a Jan. 10 SEC filing. Meanwhile, David Byrnes will replace Liding as controller and chief accounting officer of CBS. Byrnes was most recently the company's senior vice president of internal audit.

* Bruce Kiddoo will retire as Maxim Integrated Products Inc.'s CFO and senior vice president in the second half of 2019 to support nonprofit causes. Kiddoo's departure will be effective after the close of the current fiscal year, with the exact date dependent on the company's transition to a new CFO. Maxim said it is starting a search for Kiddoo's successor.

* Growth-oriented investment firm Carrick Capital Management Co., which backs technology-enabled businesses, promoted Chris Wenner to managing director. Wenner is involved in the firm's investment activities, with a focus on healthcare, cybersecurity and enterprise software.