Finance & Capital Management

Bentonville, Ark. -- Wal-Mart Stores  held its annual shareholders meeting on Friday morning and the most noteworthy development at the event — aside from a $15 billion share repurchase authorization — was a surprise appearance and glowing comments by Hollywood heavyweight Tom Cruise.

CHESAPEAKE, Va. — Dollar Tree has promoted Gary Philbin to president and COO. He has served as COO since 2007. Bob Sasser continues to lead the company as its CEO.

HOUSTON — One World Holdings has appointed Wilma Delaney, former VP of federal, state and provincial governmental and regulatory affairs for Dow Chemical, to its board of directors.

"We are very pleased to welcome Wilma to the One World board," said Joanne Melton, CEO of One World Holdings. "Wilma brings deep expertise in corporate governance and global market expansion that will prove invaluable as One World continues its growth trajectory."

ORRVILLE, Ohio — The J. M. Smucker Company's board has announced that a new director nominee will be included in the company's proxy statement for election at the next annual shareholders meeting to be held Wednesday, Aug. 14.

The nominee is Robert B. Heisler Jr., the now-retired dean of the college of business administration and graduate school of management at Kent State University, former CEO of McDonald Financial Group and retired chairman and CEO of KeyBank, N.A.  

PARSIPPANY, N.J. — B&G Foods has acquired Robert’s American Gourmet Food, doing business as Pirate Brands — an all-natural snack foods category — from VMG Partners, Driven Capital Management, founder Robert Ehrlich and other entities and individuals.

B&G will pay approximately $195 million in cash.

PARSIPPANY, N.J. — B&G Foods has acquired Robert’s American Gourmet Food, doing business as Pirate Brands — an all-natural snack foods category — from VMG Partners, Driven Capital Management, founder Robert Ehrlich and other entities and individuals.

B&G will pay approximately $195 million in cash.

MATTHEWS, N.C. — Family Dollar has named Brad Rogers as the company's SVP of real estate. Rogers replaces Keith Gehl, who announced his retirement from the company at the end of June. Rogers will report to chairman and CEO Howard R. Levine.

INDIANAPOLIS — Kroger central division employees working at Kroger stores in the Indianapolis area have ratified a new four-year labor agreement with UFCW Local 700.

FOOTHILL RANCH, Calif. — The Wet Seal has appointed retail veteran Lesli Gilbert to the position of EVP, stores and operations. She replaces Barbara Cook, who resigned as the company's SVP of store operations in February.

VANCOUVER, British Columbia — Lululemon reported results for the first quarter ended May 5, but the news of the day was CEO Christine Day's resignation after five and a half years.

Day will officially step down once the board names a successor. The board has formed a search committee and enacted its CEO succession plan.