Finance & Capital Management

Bentonville, Ark. -- Walmart on Tuesday joined with CEOs from more than a dozen global companies to sign new commitments that accelerate innovation in sustainable agriculture and recycling. The pledges kicked off Walmart’s first-ever Sustainable Product Expo, a three-day collaboration to expand the availability of products that sustain people and the environment. Together, the participating suppliers represent more than $100 billion in sales at Walmart.

Dallas - Tuesday Morning Corp. has named Sherry M. Smith, who most recently served as executive VP and CFO of SuperValu Inc., and Frank M. Hamlin, who currently serves as executive VP of marketing at Guitar Center, as independent members of the company's board of directors, effective immediately.  

Hamlin will serve on the Nominating and Governance Committee and Smith will serve on the Audit and Compensation Committee.

San Francisco - Consumers avoid doing business with a breached organization at a high rate. According to a new study conducted by Javelin Strategy & Research and commissioned by data management solution provider, Identity Finder, 33% of customers will shop elsewhere if their retailer of choice is breached.

Grapevine, Texas -- GameStop Corp. will close 120-130 of its 6,457 stores worldwide in 2014 and add 300 to 400 new tech stores under three different banners: Spring Mobile, Cricket and Simply Mac. The closures and openings are part of the company’s new “GameStop3.0” repositioning. The new strategy emphasizes mobile-gaming.

“The opportunities that have presented themselves we see as unique,” said GameStop CEO Paul Raines during an investor meeting last week.

Los Angeles – Peter J. Nolan, 55, one of three managing partners of private equity firm Leonard Green & Partners, is leaving his post. Leonard Green holds investment stakes in major retail chains including J. Crew, Petco, The Container Store, and Topshop/Topman.

Nolan will serve as a senior advisor to Leonard Green and also serve as a board member of several companies in its portfolio. He is leaving to devote more time to philanthropic activities.

Eastman Kodak Company has named Eric-Yves Mahe as SVP and director of sales strategy and operations. The board of directors also has elected Mahe a corporate officer of Kodak, making him a member of the company’s executive council.

In this newly created role, Mahe will be responsible for formulating a strategy to drive and measure sales of Kodak’s portfolio of hardware, consumables, software and services. Mahe also will advise Kodak’s senior management team on software, OEM partnerships and the sale of complex solutions.

By Amanda J. Podlucky, Marshall Dennehey Warner Coleman & Goggin

Stein Mart’s board of directors has appointed D. Hunt Hawkins and Brian R. Morrow to share the newly created office of the president. Both men will continue to report to CEO Jay Stein.

"Hunt and Brian have made significant contributions in the success of the company," said Stein. "Their promotions are a testament to their leadership that has built a team that has produced seven consecutive quarters of comp store gains, a dramatic departure from the achievements of past management, and reflect the confidence the board and I have in them."