Labor & Employment

Oakbrook, Ill. -- Ace Hardware said Wednesday it has named John Venhuizen COO, effective Jan. 1, 2012.

Venhuizen has spent nearly two decades with Ace and most recently served as executive VP supply chain, information technology and international. In this position, he helped grow the number of Ace stores around the world, as well as create a variety of successful support and incentive programs for retailers.

Venhuizen will report to Ray Griffith, president and CEO.

Apparel retailers know success hinges on finding the right fit for their core customer — and that “fit” encompasses all aspects of the shopping experience from merchandise selection to customer service. The challenge is even greater for Casual Male Retail Group (CMRG), the nation’s largest retailer of big and tall men’s apparel and accessories.

Jacksonville, Fla. -- Stein Mart announced that D. Hunt Hawkins, previously the company's executive VP and chief administrative officer, has been named COO.

"Hunt has been an important part of Stein Mart since 1994 and has had a key role in our significant operational improvements over the last several years," commented Jay Stein, interim CEO of Stein Mart. "This is a great reward for his many years of quality service."

New York City -- Talbots Inc. has rejected a buyout offer from private-equity firm Sycamore Partners its biggest shareholder, saying the bid “substantially” undervalues the company. The bid was valued at approximately at $205.2 million.

Sycamore is Talbots biggest shareholder, with a 9.9% in the company. In a statement, Talbots called the proposal inadequate and said it will explore its strategic options to help maximize value for its shareholders. The retailer did not set a deadline for when its review will end.

New York City -- Borders Group Inc. won court approval of the final details of its plans to dissolve, according to Bloomberg.

The bankruptcy judge finalized terms of creditor repayments Tuesday after five remaining objections were resolved, the report said. Unsecured creditors with $812 million to $850 million in claims will recover from 4% to 10%, probably “at the higher end of the range,” according to court papers.
 

New York City -- Wal-Mart Stores on Friday will appoint Sylvia Mathews Burwell, a former senior executive of the Bill & Melinda Gates Foundation, to head its corporate foundation, according to the New York Times. She also will oversee the retail giant’s social, environmental and economic development programs in Africa.

Burwell replaces Margaret A. McKenna, who became the company foundation’s president in 2007.

JACKSONVILLE, Fla. — Discount retailer Stein Mart named Hunt Hawkins COO and expanded his responsibilities to include store operations and e-commerce at the 263-unit chain. Hawkins previously served as EVP and chief administrative officer with responsibility for information technology, supply chain and human resources, responsibilities he will retain in his new role.

Springfield, Ill. -- Illinois Gov. Pat Quinn signed legislation Friday that grants hundreds of millions of dollars in tax breaks and incentives aimed at keeping Sears Holdings Corp., along with CME Group Inc., which operates the Chicago Mercantile Exchange, headquartered in Illinois.

Lawmakers approved the business tax breaks earlier this month, but Quinn had not yet signed the bill. Both companies had openly threatened to leave the state without some kind of significant aid package.