Finance & Capital Management

Longtime Kroger executive and current chairman David Dillon is retiring Dec. 31 after 38 years with the company. Dillon, 63, will be replaced as chairman by Rodney McMullen, who also succeeded Dillon as CEO at the start of 2014, the company said. McMullen has served on the board since 2003.

CINCINNATI — David Dillon, who led Kroger's development of the company's successful Customer 1st Strategy, will retire as chairman of the board on Dec. 31 after 38 years of service.   As expected, the Kroger Board of Directors on Thursday elected Rodney McMullen, Kroger's CEO, to the additional post of chairman, commencing Jan. 1, 2015. McMullen has served on the board of directors since 2003.  

Lowe’s CEO Robert Niblock cited the recovering U.S. economy as among the reasons why the company plans to focus more on market differentiation and omnichannel retailing.

The company said it will outline these and other strategic priorities in a meeting with investors on Dec. 11 in North Carolina.

New York - Olshan Properties announced that Matthew B. Winn will join the firm effective January 2015 as COO.  Reporting directly to CEO Andrea Olshan and working closely with her executive team on the overall management of the company, Winn will be responsible for leading the firm’s daily operations and refining its operating policies, procedures, and processes. He will also focus on ensuring growth of the company’s platform as well as work to enhance its operational efficiency.   

Covington, Louisiana - Stirling Properties has named Michael Bucher as Development Director, charged with leading new and on-going development projects, including ground-up development, redevelopment and joint ventures.     Based in the Covington office, Bucher will plan, coordinate and direct personnel relating to development and redevelopment.   

New York - Back in the fall, reports were rampant that Amazon would open a physical store in mid-town Manhattan in time for the holiday rush. The online giant had rented space across from the Empire State Building,  according to reports, with plans to open a space that would double as a store and mini-depot where select orders could be picked up and returned.  But with the holiday season in full-swing, there is no Amazon storefront on West 34th Street—and it doesn’t appear any is likely in the near future.  

San Jose, Calif. – EBay Inc. is reportedly considering cutting up to 3,000 jobs early in 2015. According to the Wall Street Journal, the staff reductions would primarily occur in the EBay Marketplace unit as the company prepares to spin off its PayPal unit.   

Expense control and a more rational promotional environment helped Toys “R” Us reduce the size of its third quarter operating loss but the company had little to say about its outlook for Christmas sales and profits.