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CEO shake-up at Hot Topic
City of Industry, Calif. -- Hot Topic announced Monday that CEO Betsy McLaughlin has resigned the company, effectively immediately, and will be replaced by current board member Lisa Harper.
The move came two weeks after the company announced a fourth-quarter net loss, reversing a profit from a year ago, as revenue slipped by 1%.
According to the retailer, McLaughlin will continue to assist in the transition over the next three months. -
Report: Wal-Mart antitrust hearings in South Africa delayed
Johannesburg, South Africa -- A Tuesday report by Bloomberg said that hearings on a Wal-Mart Stores bid to acquire control of Massmart Holdings Ltd. will be adjourned to May 9, following an earlier announcement on Tuesday that the hearings would proceed this week.
After announcing that it will hear evidence from labor unions and Wal-Mart and Massmart this week and from the government on May 9 and May 10, South Africa’s Competition Tribunal now say the hearing has been adjourned to May 9.