While Pittsburgh International Airport is getting ready to break ground on a $1.1 billion modernization plan for its passenger terminal, the airport's CEO says the future is in cargo.
While public [spending on American infrastructure fell by $9.4 billion from 2007 and 2017, Pittsburgh has decided to take the opposite approach. "With our [airline] partners, we have determined that we need to make this infrastructure investment," CEO Christina Cassotis told Cheddar Thursday.
She said she hopes, through modernizing the airport, passengers will see it "as more than just a facility … to get on and off the plane to get to your Uber or your taxi." She also noted that sustainability will be a "huge factor" in the new terminal, scheduled to open in 2023.
"We are redefining what it means to be an airport in the United States," Cassotis said.
While the investment in a new passenger terminal is underway, the airport is also trying to increase its cargo business, which Cassotis called "a huge deal for us." Amazon is currently not using its airport to transport packages, but she said, "We would love to welcome them."
"We believe that we've got the facilities and the geography for a logistics play. We're going after cargo," she said.
Cassotis noted that the $19 million federal grant was awarded for a cargo terminal last month was the first of its kind. The new terminal will help Pittsburgh attract attention far beyond the Pennsylvania border, and show potential new cargo partners "we are national critical infrastructure."
In October, Pittsburgh International Airport also announced it is investing in a microgrid to become 100 percent self-reliant on its own electricity generation. The project is slated to be completed by 2021. It's predicted by Peoples Gas utility and the airport authority it will save the airport about $500,000 a year, or about 7 percent of the airport's annual electric bill.
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.
