Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Aïda Amer/Axios

When a CEO is forced out of a company, a lot of people hope and expect big changes. Much like Inigo Montoya in "The Princess Bride," those people are going to have to get used to disappointment.

Why it matters: It's big news when names like Dennis Muilenburg of Boeing and Travis Kalanick of Uber are forced out of their jobs. But that doesn't mean the company is going to change. The reality is that corporate cultures change slowly if at all.

  • How it works: Managers tend to like, hire and promote people with personalities similar to their own. Corporations therefore have a natural tendency towards monoculture.

The mystery of how and why Muilenburg held on to his job for as long as he did can be explained in large part by seeing him less as the cause of the problems at Boeing, and more as a symptom of a bottom-line-oriented corporate culture that dates back to the early 2000s.

  • Jerry Useem has an excellent explanation in The Atlantic of how Boeing's engineering-led culture was supplanted by McDonnell Douglas' finance-led culture after the companies merged in 1997. "The present 737 Max disaster can be traced back two decades," he writes.
  • When the Boeing board fired Muilenburg they replaced him with David Calhoun, a Blackstone financier who "studied accounting at Virginia Tech and began his career in GE’s corporate audit team," per the FT. He is very unlikely to change Boeing's cost-cutting culture, or even move its headquarters back to Seattle, where the company's planes are built.

Travis Kalanick has now fully severed his ties with Uber, selling all his stock in the company and stepping down from its board — but his influence in the company remains incredibly strong.

  • Kalanick's hand-picked board members, Ursula Burns and John Thain, remain on the company's board, while longtime Thain lieutenant Nelson Chai is CFO.
  • Change agent Bozoma Saint John, who was charged with reinventing the Uber brand, lasted only one year at the company.
  • CEO Dara Khosrowshahi was similarly tasked with rebooting the company. He has survived, partly because he is happy to make statements praising not only Kalanick but also Saudi Arabia's Yasir Al-Rumayyan, who's also on Uber's board. He also continues to claim with a straight face that Uber's drivers are not core to the company.

Adam Neumann hired almost everybody at WeWork on the basis that it was an exciting and fast-growing technology company rather than a fundamentally stodgy real-estate company. If it is now trying to concentrate on boring things like cash flows, it has a comically ill-suited employee base.

Roger Ailes, the founding CEO of Fox News, was fired in 2016 and died in 2017. Since then, the network has moved even further to the right, and plays a more important role than ever in Republican politics. The Ailes legacy, far from being repudiated, has been strengthened.

The bottom line: Most of the time, executive defenestrations are theatrical events designed to avoid true corporate accountability.

Go deeper: What to know about the Softbank fixers parachuting into WeWork

Go deeper

2 hours ago - World

U.S. and NATO answer Putin in writing while bracing for Ukraine invasion

NATO Secretary-General Jens Stoltenberg. Photo: Dursun Aydemir/Anadolu Agency via Getty

The U.S. and NATO provided Russia with written proposals on Wednesday to advance a "diplomatic path forward," even as they warned that Russia could invade Ukraine within days.

Why it matters: This is a delicate diplomatic balancing act. The U.S. and NATO want to show they're serious about diplomacy but unwilling to compromise on "core principles" — all without providing Vladimir Putin with an additional pretext for escalation.

The political leanings of the Supreme Court justices

Data: Martin-Quinn scores; Chart: Axios Visuals

The Supreme Court will continue to have a solid conservative majority even with Justice Stephen Breyer's retirement.

How to read the chart: An analysis by political scientists Andrew Martin and Kevin Quinn, known as the Martin-Quinn Score, places judges on an ideological spectrum. A lower score indicates a more liberal justice, whereas a higher score indicates a more conservative justice.

The front-runners for Biden's Supreme Court pick

Judge Kentaji Brown Jackson (left) and Justice Leondra Kruger (right) Tom Williams-Pool/Getty Images and Lonnie Tague, US Department of Justice

Two highly accomplished Black female judges — Ketanji Brown Jackson, a judge on the D.C. Circuit Court of Appeals; and Leondra Kruger, a justice on the California Supreme Court — are seen as the early front-runners to replace retiring Supreme Court Justice Stephen Breyer.

The big picture: Jackson is a powerful federal judge with a record that progressives feel they can trust. Kruger was a highly regarded litigator and has carved out a reputation for working well with conservative judges.