US stocks are set to head higher at the open, with General Electric Company (NYSE:GE) leading the charge.
Its shares are up 15% in Monday pre-market at $13.00 as the conglomerate dumped John Flannery as its chief executive, after just over a year in the job.
He is replaced by Lawrence Culp as the new chief and chairman.
The group, also listed in London, also told investors it would take a $23 billion non-cash charge for its power business, and its EPS (earnings per share) for 2018 would fall short of its previous guidance.
The firm reported one of its worst weeks of 2018 last week, down 7%, and the share price hit a new 9-year low.
Culp was formerly chief executive of the manufacturing group Danaher and was appointed GE’s lead independent director in June this year.
In other boardroom news Monday, drugs behemoth Pfizer Inc (NYSE:PFE) saw its shares lose 0.18% to stand at $43.99 before the New York bell.
It came as the group told investors that chief executive Ian Read would step down at the start of next year, but become the executive chairman as at January 1.
He will be replaced by chief operating officer Albert Bourla.
Bourla, 56, has led Pfizer's Innovative Health business, which recorded revenue of $31.4 billion last year.
Electric car giant Tesla Inc (NASDAQ:TSLA) was also in the news at the weekend due to a change in the management structure.
Entrepreneur Elon Musk will have to step down as chairman but can remain as chief executive after the firm reached a settlement with the regulator - the Securities and Exchange Commission (SEC) over Musk's tweets in August, in which he suggested Tesla could be taken private.
Tesla is also required by the regulator to bring in two independent directors.
Shares in the firm rocketed 17.65% to $312 before the bell and if this continues into the regular session, shares could be on track for the best day since August 2 this year when they jumped 15.7%.
Tesla's SEC deal gives ammunition to short-sellers pursing separate cases and to a probe by the Justice Department https://t.co/btwNMNrPok by @CarMcWilliams $TSLA pic.twitter.com/YbmegIs0uF
— Reuters Top News (@Reuters) 1 October 2018