International Business

A search is underway for a new CEO to lead Dorel Industries recreational and leisure products segment following the departure of Robert Baird.

Until a replacement for Baird is named, Peter Woods, CFO of the recreational and leisure segment, will serve as CEO. Baird joined Dorel as president of the recreation and leisure segment in 2008 as part of a reorganization after previously serving in a senior leadership role at Philips Electronics. He also held key roles as companies such as Samsonite, Scott Paper, Bristol Myers and Procter & Gamble before arriving at Dorel.

3M wowed investors on Tuesday by sharing aggressive organic growth plans, doubling a share repurchase program, raising the prospect of billion dollar acquisitions and increasing its dividend by 35%.

The $30 billion company offered the details during a meeting with investors to update a five-year growth plan that extends through 2017. The plan envisions 9% to 11% growth in earnings per share, 4% to 6% organic revenue growth and approximately a 20% return on invested capital.

Austin, Texas -- Merchandise optimization solution-provider Revionics said that it has entered into a multi-year agreement with DIXY Group, one of Russia’s largest national retail operators in the food retail market, to provide Revionics price optimization solution to the company’s DIXY Neighborhood Stores, which includes 1,580 retail stores.

The Hershey Company is working with its suppliers to achieve 100% traceable and sustainably sourced palm oil by the end of 2014.

The company has also achieved its commitment to source 100% mass balanced Roundtable on Sustainable Palm Oil-certified palm oil more than a year ahead of its original 2015 commitment.

Hudson’s Bay Company has named Donald Watros, currently the company’s COO, as president of HBC, a newly expanded role. The appointment is effective Feb. 1, 2014.

The move comes as the company restructures its leadership so it can focus on managing and growing HBC’s presence in North America, as well as its expanding portfolio of brands.

Bentonville, Ark. – Wal-Mart India is laying off roughly 100-150 senior to mid-level employees. The Financial Press quotes anonymous executives as saying Wal-Mart India, which currently employs about 1,100 workers, beefed up staffing in anticipation of an expansion that has now been put on hold.

Wal-Mart runs 20 wholesale stores in India. The retailer previously ran them in a joint venture with Indian company Bharti Enterprises, but since that partnership was dissolved in October 2013 Wal-Mart India has been taking on Bharti employees.

The race to improve customer convenience by leveraging smart e-commerce logistics in the supply chain is heating up in the U.S. and internationally. So far, the U.S. is ahead of the pack in e-commerce sales, raking in $351.8 billion during 2012, a full 33.7% of all e-commerce purchases worldwide, according to the new Jones Lang LaSalle Global E-Commerce Report.

Paris -- French retailing giant Carrefour has joined an investment group aiming to acquire more than a 100 shopping malls in France, Spain, and Italy.

According to a New York Times report, the $2.7 billion deal will add 127 malls to Carrefour’s current 45-mall portfolio. The plan is to create a new, separate property company in which Carrefour would hold a 42% stake. Institutional investors would hold the rest.