Corporate Responsibility

New York -- Toms and Whole Foods Market grabbed the top spots in a survey of the most socially responsible companies by marketing consultancy Good Must Grow. Rounding out the top five: Microsoft, Starbucks and the Red Cross.

The survey asked consumers to name one company or organization that is socially responsible. Seventy-nine percent of the respondents said they were familiar with the term “socially responsible,” and of those, 77% said it was an important factor in their shopping behaviors.

Leading department store retailer Nordstrom has developed a unique approach to community giving by returning 1% of gift card sales to local nonprofit groups.

Nordstrom will use funds from gift card sales to support two giving programs: Nordstrom-directed corporate contributions and a newly-launched Employee Charitable Match program. For more than 40 years, Nordstrom selects hundreds of organizations to receive cash grants.

Kohl’s is moving toward a $300 million threshold in its long-running Kohl’s Cares cause merchandise program with the latest iteration of the program involving products from the author and illustrator team of Philip and Erin Stead.

From now through June 27, Kohl’s customers who purchase books or plush items for $5 will see the entire net profit of their purchase used to support children’s health and education initiatives nationwide.

Minneapolis – Best Buy president and CEO Hubert Joly now has something in common with Frank Sinatra — you can call him “Chairman of the Board.” Joly will succeed current chairman Hatim Tyabji, who is retiring from the board effective June 9, 2015, as board chairman.

Russell P. Fradin, president and CEO of SunGard and a Best Buy Board member since April 2013, will serve as lead independent director. Tyajbi, CEO of mobile data/video company Bytemobile Inc., has served on the Best Buy board since 2008 and as chairman since 2012.

Lowe's outlined its progress in meeting its sustainability objectives in its 2014 Social Responsibility Report.

Bentonville, Ark. – Walton Enterprises LLC, the corporation which holds Wal-Mart stock for the Walton family, plans to sell off some of its ownership stake in the discount giant. In a brief statement on the Wal-Mart investors webpage, Walton Enterprises said its stake in Wal-Mart has risen to about 50% as a result of stock buyback programs.

Best Buy President and Chief Executive Officer Hubert Joly has added the title of Chairman to his responsibilities at the retailer after long time board member Hatim Tyabji and several others decided to step down.

Secaucus, N.J. - The Children's Place Inc. has rejected three board of directors nominees from shareholders Barington Capital Group L.P. and Macellum Advisors GP LLC. The two investment firms, which collectively own less than 2% of the company’s shares, sent a letter expressing concern about The Children’s Place financial performance and recommending new nominees in March 2015.