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Elliott Investment Management filed a lawsuit against Phillips 66 and its board of directors to require four seats be up for election this year.

Elliott Investment Management is heading toward a proxy battle with Phillips 66 after failing to reach an agreement with the energy group’s leadership on a path to improving performance.

The board of directors said it was made aware on Feb. 21 of “certain personal conduct by McMullen and immediately retained outside independent counsel to conduct an investigation.”

González will be replaced April 1 by Jaime Muguiro, who is the current head of Cemex’s U.S. operations, the company said in a statement.

Joe Beacom will become president of Landstar System Holdings. Matt Miller will succeed Beacom as vice president and chief safety and operations officer.

Cruise LLC, the autonomous vehicle unit owned by General Motors Co., is cutting 24% of its workforce, extending a sweeping overhaul of the business after dismissing nine top executives.

FedEx Corp. is cutting global officer and director jobs by more than 10%, the courier’s latest cost-saving measure as economic concerns and waning e-commerce weigh on demand for package delivery.

TOKYO — Toyota set up a new leadership team Jan. 26 in what the Japanese automaker said was a move to stay abreast of social changes like electrification and becoming a wider “mobility company.”

Daimler AG’s supervisory board picked Bernd Pischetsrieder to be its next chairman and help navigate the maker of Mercedes-Benz luxury cars through a seismic industry transformation.

RALEIGH, N.C. — The generation gap between trucking industry leaders is getting wider, as younger millennials enter the freight workforce with different understandings of the world around them.