Fair is Disrupting the Car Buying Model by Offering an Alternative to Leasing and Buying
Fair is a FinTech company that empowers customers to shop, get approved, and pay for the exact car they want—all on their phone. By simply scanning their driver’s license, linking a bank account, and signing in to the app, Fair customers can order a ready-to-pick-up car from anywhere in minutes.
Alyssa Julya Smith sits down with CEO Scott Painter in Los Angeles to discuss the company's latest round of funding, and how it plans to use the money to expand all over the USA. Fair just announced the close of a strategic funding round last week that was led by BMW i Ventures, alongside the Penske Automotive Group, among others.
Painter explains that since starting in September, the company has already seen huge interest and impact in the market. He also says that what works with Fair is that customers have the freedom to drive their car for as long as they want, and turn it in with just five days’ notice.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
