First Pass

5 stories from 4 sources

Leadership reshapes succession and efficiency at major companies

Day’s Recap

Supporting Articles

12:00 AMFinancial Times

How Jamie Dimon’s long succession race claimed another victim

Summary

JPMorgan removed Marianne Lake from contention to succeed Jamie Dimon after years of positioning her as a leading internal candidate. The move narrows the bank’s visible succession bench and resets internal expectations about who will run the firm next.

Why it matters

Succession at the largest U.S. bank is a governance and valuation issue, and thinning the bench raises execution risk at the moment of leadership change.

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12:00 AMFinancial Times

How Darren Woods brought Exxon back

Summary

Darren Woods has consolidated control at Exxon and turned the company into the oil sector’s dominant power center by aggressively reshaping strategy, capital allocation, and internal discipline. He has pushed corporate authority further than peers to restore performance and influence across the industry.

Why it matters

A stronger Exxon resets competitive expectations in oil and gas and increases the company’s leverage over energy policy, supply growth, and shareholder returns.

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8:30 AMFinextra

Starling to axe 130 jobs as part of automation drive

Summary

Starling Bank plans to cut around 130 roles as it increases automation and pushes an efficiency program. The reductions target areas where software can replace manual processes as the bank tightens its cost base.

Why it matters

Digital banks are moving from growth-at-all-costs to margin discipline, and automation is becoming the primary lever.

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Other Developments

A curated list of other prominent stories from this day.

2:15 PMVariety

Strictly Business From Cannes Lions: NBCUniversal, IBM, State Farm, Autodesk and Coinbase Leaders on Marketplace Trends, AI and Reaching Consumers

Summary

Leaders from NBCUniversal, IBM, State Farm, Autodesk, and Coinbase compare notes on how they are adjusting marketing and product strategy to shifting consumer behavior and rapid AI adoption. The conversations, recorded at Cannes Lions, focus on marketplace volatility, new tech tooling, and tactics to reach and keep customers.

Why it matters

The companies that pair fast AI deployment with credible trust and measurement will take share as advertising and consumer engagement become more automated and more contested.

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6:24 AMThe Property Times

Beyond Squarefeet Strengthens Leasing Leadership with CA Himesh Vasani’s Appointment Mumbai, July 03, 2026: Beyond Squarefeet, one of India’s leading shopping mall advisory & Management firm, today announced the appointment of CA Himesh Vasani as Assistant Vice President – Leasing, reinforcing its commitment to strengthening its leadership team as it continues to expand its Mall advisory and leasing portfolio across the country. A qualified Chartered Accountant, Himesh brings over 28 years of professional experience, including an illustrious 19-year tenure with Reliance Retail, where he played a pivotal role in one of India’s largest retail expansion journeys. During his tenure, he contributed to scaling the retail network to more than 18,000 stores across multiple formats while leading key real estate acquisition, commercial, and process optimisation initiatives. Himesh is recognised for combining commercial insight with strategic execution across complex real estate projects. Throughout his career, he has led large-scale acquisition initiatives, negotiated high-value commercial transactions, and worked closely with developers, retailers, and cross-functional teams to support the expansion of retail infrastructure across India. His expertise in commercial strategy, stakeholder management, and operational excellence has consistently enabled the successful execution of complex real estate and expansion projects. In his new role at Beyond Squarefeet, Himesh will add to the leasing strategies across the company’s growing portfolio, working closely with retailers & developers to accelerate expansion goals and create long-term value for clients. His expertise in commercial negotiations, market assessment, financial evaluation, due diligence, and relationship management will further enhance Beyond Squarefeet’s ability to deliver strategic, value-driven leasing solutions. Commenting on the appointment, Susil S. Dungarwal, Chief Mall Mechanic®, Beyond Squarefeet, said: “We are delighted to welcome Himesh to Beyond Squarefeet. His extensive experience in real estate acquisitions, commercial negotiations, and retail expansion makes him a valuable addition to our team. His ability to combine commercial expertise with strategic thinking will be instrumental as we continue to build future-ready Shopping Malls and create long-term value for our developer and retail partners. We are confident that his leadership will further strengthen our leasing capabilities and support the next phase of our growth journey.” Expressing his enthusiasm on joining the Shopping Mall Specialists, CA Himesh Vasani said: “Beyond Squarefeet has built a strong reputation for delivering innovative retail-realestate solutions and creating value for developers and brands alike. I am excited to join the organisation at such an exciting phase of growth and look forward to working with the talented team to deliver impactful leasing solutions, build lasting client relationships, and contribute meaningfully to the company’s long-term vision.” The appointment reflects Beyond Squarefeet’s continued investment in experienced leadership as the company expands its presence across India’s evolving retail real estate landscape. With increasing demand for organised retail, mixed-use developments, and experiential shopping destinations, Beyond Squarefeet remains committed to delivering strategic advisory and leasing solutions that create sustainable value for developers, investors, and retail brands.

Summary

Beyond Squarefeet appointed CA Himesh Vasani as Assistant Vice President, Leasing, tapping his 28 years of experience including 19 years at Reliance Retail focused on acquisitions, commercial negotiations, and network expansion. He will lead leasing strategy and execution across the firm’s growing mall advisory and leasing portfolio, working with retailers and developers.

Why it matters

As India’s mall and mixed-use pipeline grows, advisory firms that can execute leasing at scale become a critical gatekeeper for project viability and retailer expansion.

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