International Business

The California State Teachers’ Retirement System (CalSTRS) this week filed a lawsuit against current and former Walmart executives stemming from the April 22 New York Times article, which chronicled the company’s alleged use of bribes to accelerate expansion in Mexico and efforts by top executives to quash an investigation when the situation was called to their attention.

SOUTH DEERFIELD, Mass. — The Yankee Candle Company has announced that Gregory Hunt is resigning as EVP finance and CFO, effective as of May 15, 2012.  Hunt, who joined Yankee Candle in 2010, is leaving to join a leading New York based financial services firm.

Canton, Mass. -- Baskin-Robbins announced Friday a plan to nearly double its U.K. presence over the next three years, adding 80 freestanding units to the 100 stores currently operating in the region.

The announcement comes as the ice cream chain celebrates the official opening of three new shops in London, each featuring the brand’s new international design that includes lounge-style seating, interactive LCD menu displays and upgraded wallcoverings reminiscent of waffle cones.

New York -- The California State Teachers' Retirement System (CalSTSR), the second largest U.S. public pension fund, has filed a lawsuit against current and former Wal-Mart Stores’ executives and board members over mishandling of allegations that officials knew about a bribery campaign in Mexico and covered it up. The fund holds more than 5.3 million shares of Wal-Mart.

COLUMBUS, Ohio — Limited Brands has named Charlie McGuigan, CEO of Mast Global, the company's sourcing and production arm, as COO of Limited Brands. In addition to retaining his current responsibilities, he will assume leadership of enterprise operations.

Martyn Redgrave, Limited Brands chief administrative officer, will transition to the role of senior advisor for the company later this summer.

The seventh annual Best Companies for Leadership Study conducted by the global consulting firm the Hay Group ranked Walmart eighth.

Walmart’s eighth  place ranking on the top 20 list is one notch better than the prior year, but slightly below the company’s 6th place ranking in 2009 when it made the list for the first time.

New York -- Best Buy’s chief marketing officer, Barry Judge, has resigned. His resignation follows the departure last month of chief executive Brian Dunn.

Judge is “leaving the company to explore the next chapter in his career,” Greg Hitt, a spokesman for Best Buy, said by e-mail, in a Bloomberg report.

Columbus, Ohio -- Limited Brands announced that Charlie McGuigan, CEO of Mast Global, the company's sourcing and production arm, has been named Limited Brands COO. In addition to retaining his current responsibilities, he will assume leadership of enterprise operations.

Martyn Redgrave, Limited Brands chief administrative officer, will transition to the role of senior advisor for the company later this summer.
 

Target’s annual shareholders’ meeting will be held June 9 in downtown Chicago at the location of a soon-to-open CityTarget store on State Street. The venue is an interesting choice that speaks volumes about the potential for the new urban format.

Target has done quite well for itself in California, but that doesn’t mean it’s been easy. Ironically, the state with the most extensive network of Target stores also happens to be the one identified as the worst state in which to do business, according to a recent survey.