Business

Polestar Appoints Former Stellantis Finance Executive As CFO

Published

6 months ago

September 3, 2024

Polestar firm an Electric vehicle maker said on Tuesday it has appointed former Stellantis finance executive Jean-Francois Mady as its CFO, days after replacing long-time CEO Thomas Ingenlath.

This marks the fourth executive change at the Geely-backed EV maker in the past few months as it looks to battle fresh tariffs in the European Union and rising competition from U.S.-based Tesla and legacy automakers.

Last week, in a surprise move, Ingenlath, who headed Polestar since its inception in 2017, was replaced with Michael Lohscheller — the former top boss at Opel and Vietnamese EV maker VinFast.

Mady would assume responsibilities from Per Ansgar, effective Oct. 21, Polestar said. Ansgar, who joined the EV maker on an interim basis, would return to his position as CFO at Geely’s Swedish unit.

Mady brings more than two decades of experience in the automotive industry as senior finance executive at Peugeot and Fiat-parent Stellantis.

The appointment comes after Polestar last week announced a $300 million loan it had secured, adding to the previous $950 million credit it received from a bank syndicate. That took the EV maker to its target of about $1.3 billion in external funding.

Polestar’s need for finance became acute in February when co-founder, Volvo Cars, said it would stop further funding. Majority shareholder Geely, however, said it intends to continue supporting the firm.

The company also targets double-digit gross margin by the year-end after it took actions such as supplier negotiations to reduce the cost of manufacturing across its product lines.

Ansgar said last week Polestar was in talks with the European Commission regarding punitive tariffs on vehicles made in China and was considering actions such as exporting some models from its factories outside China to avoid tariffs.

Business

CTV Nigeria Debuts on GOtv

Published

2 days ago

March 13, 2025

Samson Adeyanju

By Emmanuel Ogbodo

Catholic Television, Nigeria (CTV), has officially launched on the GOtv platform, expanding its reach to millions of viewers across the country.

According to a communication from MultiChoice, the channel went live today, March 13, 2025, at 10 a.m. (WAT) on GOtv channel 115.

It is available on all GOtv packages, from GOtv Lite to GOtv Supa Plus.

This milestone marks a significant step in bringing faith-based content to a wider audience, providing Catholic programming, religious teachings, and wholesome entertainment to subscribers.

With this launch, Catholic TV Nigeria strengthens its presence in the digital space, offering spiritual nourishment to viewers seeking faith-inspired content.

Business

Darasimi Denies Cheating, Speaks on Baba Tee’s Controversy

Published

5 days ago

March 10, 2025

Samson Adeyanju

By Abaire Olanlesi

Darasimi, the estranged wife of comedian Ganiu Morufu, popularly known as Ijoba Lande, has dismissed allegations of infidelity, insisting that her controversial encounter with Yoruba Nollywood actor Babatunde Tayo (Baba Tee) was misinterpreted.

Addressing the claims in an interview on Sunday, Darasimi explained that the incident occurred during a “Truth or Dare” game organized by her friend Marygold, where she briefly sat on Baba Tee’s lap but maintained that no sexual activity took place.

She challenged her ex-husband to produce evidence of her alleged affairs, maintaining that their marriage did not collapse due to infidelity.

However, Baba Tee admitted to a brief sexual encounter with Darasimi, blaming it on intoxication during the game.

He publicly apologized to Ijoba Lande, expressing regret for his actions.

While Darasimi chose to withhold details about the real reason for her failed marriage, she insisted that cheating was not a factor.

Business

Mr Macaroni Stands Firm, Refuses to Greet Sanwo-Olu

Published

5 days ago

March 10, 2025

Samson Adeyanju

By Abaire Olanlesi

Popular comedian and activist Adebowale Adedayo, known as Mr Macaroni, has doubled down on his decision to snub Lagos State Governor Babajide Sanwo-Olu, insisting he has no regrets.

In a series of posts on X (formerly Twitter) on Monday, Mr Macaroni dismissed criticisms over his stance, stating that even if given another chance, he would not acknowledge the governor.

“This is the last time I will address this matter. It is not worth my peace of mind,” he wrote, slamming Nigerians who defend politicians yet suffer under poor governance.

He accused some critics of hypocrisy, claiming they secretly take bribes while publicly condemning leaders.

Reaffirming his commitment to holding leaders accountable, Mr Macaroni rejected pressure to conform, declaring that he would never betray his conscience.

He also urged Nigerians to rise above tribalism and work towards national unity and justice.