Labor & Employment

Fort Worth, Texas – Struggling consumer electronics retailer RadioShack Corp. has named Carlin Adrianopoli, a consultant with strategic advisory and interim management services firm FTI Consulting, as its new interim CFO. Adrianopoli replaces Alix Partners managing director Holly Etlin, who was named interim CFO in September 2014 to replace previous CFO John Feray after he resigned.  

New York - Wal-Mart Stores on Tuesday said that it might appeal the decision of the Pennsylvania Supreme Court, which ordered the discounter to pay $188 million to settle a class-action suit over worker pay.       The Pennsylvania Supreme Court upheld a 2007 lower court ruling in favor of  workers  who said Wal-Mart failed to pay them for all hours worked and prevented them from taking full meal and rest breaks.   

Brisbane, Calif. - bebe stores announded that Jim Wiggett has been named CEO and appointed to the company’s board of directors, effective immediately. He has been serving as interim chief executive since June 2014.  

Struggling consumer electronics retailer RadioShack Corp. has named Carlin Adrianopoli, a consultant with strategic advisory and interim management services firm FTI Consulting, as its new interim CFO.

Adrianopoli replaces Alix Partners managing director Holly Etlin, who was named interim CFO in September to replace previous CFO John Feray after he resigned.

Adrianopoli, 39, has been a senior managing director in the FTI Consulting Corporate Finance/Restructuring practice since 2010 and joined FTI in 2002.

Seattle – Top executives of Starbucks Corp., including chairman, president and CEO Howard Schultz, reportedly sold a combined total of 448,320 company shares for about $37.54 million, an average of $83.74 each, on Dec. 9 and 10, 2014. According to Barrons.com, Schultz exercised options and sold shares for a total of $28.95 million, and also gifted 175,000 shares, leaving him holding about 16.78 million shares.  

New York - In a long-awaited decision handed down late Monday, Dov Charney, the controversial founder of American Apparel, has been fired "for cause" as CEO. He was suspended as president and CEO of the hipster apparel chain in June for alleged misconduct and violations of company policy, American Apparel said in a statement. The decision was made by the board’s “suitability committee,” which was formed in the wake of Charney’s suspension to oversee an internal investigation.

Cincinnati – Retail real estate services provider Phillips Edison & Company has named Thomas L. Drake, CPA to the role of VP of tax. In his new role, Drake will be responsible for leading all aspects of the tax functions for the organization.  

After weeks of exploring “strategic alternatives,” PetSmart has agreed to be acquired for about $8.7 billion by a consortium led by London-based BC Partners.

"We are pleased to have reached this agreement with BC Partners, which maximizes value for all of our shareholders and best positions PetSmart to continue to meet the needs of pet parents," said Gregory Josefowicz, chairman of PetSmart. "This transaction represents the successful conclusion of our extensive review of strategic alternatives."