Labor & Employment

Woonsocket, R.I. -- CVS Caremark Corp. announced Tuesday that Larry J. Merlo has assumed the role of chief executive. Merlo, now president and CEO of CVS Caremark, succeeds Thomas M. Ryan who will remain non-executive chairman until his retirement at the company's annual meeting in May.

Merlo, a pharmacist by training with over 30 years in pharmacy health, joined CVS/pharmacy in 1990 through the company's acquisition of Peoples Drug.

New York City -- Shareholders of J.Crew Group have approved a $3 billion deal to be taken private by two investment firms.

The $43.50-per-share buyout by private-equity firms TPG Capital and Leonard Green & Partners is expected to close on or near next Monday. J. Crew CEO Millard (Mickey) Drexler will remain with the company.

WOONSOCKET, R.I. — As previously announced and widely reported, March 1 marks the day that Larry Merlo officially assumes the role of CEO of CVS Caremark. Merlo, who now serves as president and CEO, succeeds Tom Ryan, who remains nonexecutive chairman until his retirement at the company's Annual Meeting of Shareholders in May.

New York City -- Forest City Enterprises announced Tuesday that, as part of the company’s succession planning process, current president and CEO Charles A. Ratner will become chairman of the board, and will be succeeded as president and CEO by David J. LaRue, currently executive VP and COO.

The changes will be effective following Forest City's annual meeting of shareholders on June 10.

Beaumont, Texas -- Electronics and appliances retailer Conns announced Monday that its president and CEO Timothy L. Frank has resigned the company.

Conns named Theodore M. Wright as the interim CEO and president, and has launched a search for a permanent replacement.

Frank has led the company as president and CEO since June 2009; he has been president since April 2006, and previously served as COO and senior VP retail.

Frank left to pursue other opportunities, the company said.

Fort Myers, Fla. -- White House|Black Market, a division of Chico's FAS announced that Liz Edmiston has been named senior VP, general merchandise manager for White House|Black Market, effective Feb. 28.

Edmiston joins White House|Black Market from Tory Burch, where she served as VP merchandising. She has also served as VP merchandising for Victoria's Secret.
 

NEW YORK -- Jill Granoff is stepping down as CEO of Kenneth Cole Productions. According to a company press release the decision was a mutual agreement between Granoff and the board of directors. Kenneth Cole, chairman and chief creative officer, will act as interim CEO. Paul Blum, who was with the company for 15 years and served as president from 2002 to 2006, has agreed to return to the company and assume the role of vice chairman.

By Scott W. Bermack, [email protected]