Finance & Capital Management

DEERFIELD, Ill. — Walgreens on Tuesday evening elected Jan Babiak, a retired managing partner for Ernst & Young, to its board of directors. Babiak, who joins the board as an independent director, becomes the board’s 12th member.

Minneapolis -- Best Buy’s announcement on Tuesday morning that its CEO Brian Dunn had resigned the company by mutual agreement has been updated with information that a review is being conducted concerning the former chief executive’s personal conduct.

Best Buy initially said that there were no disagreements or specific problems related to the retailer’s operations, financial controls or procedures. But later in the day on Tuesday it said the company was conducting an internal investigation into his “personal conduct.”

Bentonville, Ark. -- Walmart announced six SolarCity projects on stores in Colorado, marking the company's 100th solar power installation in the United States and moving it closer to its long-term goal of using 100% renewable energy for all its retail and distribution facilities.

Washington, D.C. -- Import cargo volume at the nation’s major retail container ports is expected to increase 3.2% in April compared with the same month last year, and year-over-year gains should continue through the end of summer, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.

“Retailers are continuing to watch rising gas prices, but job gains and other indicators show the economy is strengthening,” NRF VP for supply chain and customs policy Jonathan Gold said.

MOORESVILLE, N.C. — Michael Brown, EVP and CIO of Lowe's is retiring after nearly 28 years with the company and has announced plans to accept the company’s voluntary separation program.

MINNEAPOLIS — Best Buy’s announcement on Tuesday morning that its CEO Brian Dunn had resigned the company by mutual agreement has been updated with information that a review is being conducted concerning the former chief executive’s personal conduct.

Best Buy initially said that there were no disagreements or specific problems related to the retailer’s operations, financial controls or procedures. But later in the day on Tuesday it said the company was conducting an internal investigation into his “personal conduct.”

MONTREAL — Dollar stores in the United States have seen much success in recent years (check out Retailing Today's report on Dollar General here) and they appear to be doing just as well north of the border.

MATTHEWS, N.C. — Family Dollar Stores has named Mary Winston to the position of EVP and CFO. Winston will report to Howard Levine, chairman and CEO, and will have executive responsibility for Family Dollar’s financial operations, including accounting, treasury, tax, financial planning, investor relations, and internal audit.