Corporate Responsibility

All board members were re-elected by an overwhelmingly large margin, however some shareholders expressed a dislike for Anne Mulcahy as she drew the largest number of negative votes by a wide margin.

Mulcahy is probably best known as CEO of Xerox from 2001 to 2009, and she also served as chairman of the company’s board from 2002 to 2010. She currently chairs the board of trustees of the Save The Children Foundation and serves as a director of The Washington Post Company and Johnson & Johnson. She is a past director of Citigroup.

New York City -- Kroger Co. appointed Reuben Shaffer as its chief diversity officer, effective immediately. 

Shaffer has been the company’s VP of retail operations for the Cincinnati/Dayton division since 2001. In his new position, he will oversee Kroger’s diversity initiatives, including supplier diversity and integrating the company’s ongoing commitment to create an inclusive culture into business and organization initiatives.
 

New York City -- Apparel giant VF Corp., whose brands include Wrangler, The North Face, and Nautica, said it has agreed to buy Timberland Co. for approximately $2 billion. The deal, expected to close in the third quarter, values Timberland at $43 a share, a 43% premium to Friday's closing price of $29.99 on the New York Stock Exchange.

New York City -- Wal-Mart Stores will donate as much as $5 million to New York City’s cash-strapped Summer Youth Employment Program, Crain’s New York Business reported. The donation will reportedly save 3,400 jobs.

Columbia, S.C. -- Edens & Avant announced Friday that its CEO Terry S. Brown has been named the Ernst & Young Entrepreneur of the Year 2011 Carolinas Award winner.

The awards program recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Brown was selected as the winner in the real estate category from nearly 100 nominations across the Carolinas.

Toronto -- Sears Canada has replaced more than 130,000 inefficient incandescent spotlights with energy-saving LED lighting in all Sears Home and full-line stores across Canada. The retrofit will reduce the company's electricity use by more than 16 million kilowatt hours (kWh) per year.

The latest installment in the dramatic collaboration between Procter & Gamble and Walmart is set to air this Saturday on NBC at 8 p.m. EST. The made-for-TV family movie called “Field of Vision” involves the topical subject of bullying, and in keeping with prior films offer viewers a heavy dose of morality.

Austin, Texas -- Whole Foods Market announced the addition of Blake W. Nordstrom to the company's board of directors, increasing the size of the board to 12 members. He will serve on the audit committee.

Nordstrom, 50, has been president of Nordstrom since 2000 and has served as a member of the company's board of directors since 2005.