Honda has appointed a woman to its board for the first time and given a major promotion to a foreigner in a sign the automaker wants to change perceptions of a hidebound corporate culture. Technology expert Hideko Kunii, 66, will join the board, and Issao Mizoguchi, a Brazilian of Japanese ancestry, who has worked with Honda's South American operations for nearly 30 years, has been appointed operating officer, Honda Motor Co. said Monday. The appointments need shareholder approval at a June meeting. Companies have come under fire within Japan for not promoting anyone other than Japanese males.
EBay says it's sticking with PayPal, whether minority shareholder Carl Icahn likes it or not. The online auction site said Monday that it continues to believe stockholders are best served by keeping PayPal as part of the company. EBay was responding to a blistering letter from Icahn that pressed for the San Jose, Calif., company to shed the payments business.
Netflix has reached a deal with Comcast to ensure that its TV shows and movies are streamed smoothly to households, the first deal the online video streaming service has reached with an Internet service provider. The two companies said in a joint statement Sunday they're establishing a more direct connection to provide a better service to customers that will also allow for future growth in Netflix traffic. The companies say the arrangement is already giving customers a better experience.
Men's Wearhouse is stepping up its pursuit of Jos. A. Bank Clothiers Inc., boosting the takeover offer for its rival by 10 percent to about $1.78 billion. The move comes 10 days after Jos. A Bank announced that it was planning to buy the parent company of Eddie Bauer in a cash-and-stock deal valued at $825 million. But at the time Jos. A. Bank left the door open: saying that it may end the Eddie Bauer deal if it receives an acquisition offer that is superior. Men's Wearhouse Inc. said Monday it's now offering $63.50 per share for Jos. A. Bank, up from its prior $57.50 per share bid. The new offer, set to expire on March 12, is conditioned on Jos. A. Bank ending its deal for Eddie Bauer.