Labor & Employment

New York — Cushman & Wakefield Inc. has appointed Edward C. Forst president and CEO, effective January 6, 2014.

Forst, 53, comes to Cushman & Wakefield from Goldman, Sachs & Co. where he served as global co-head of the Investment Management Division, as a member of the firms management committee and previously as the firm’s chief administrative officer.

He has more than 30 years of experience working in international asset management, capital markets and operational leadership.
 

Washington, D.C. – The Washington, D.C., city council has reportedly unanimously approved an increase in the city’s minimum wage to $11.50 per hour in 2016, up from the current hourly rate of $8.25. According to Reuters, after being raised to $11.50 the minimum wage would then be indexed to inflation.

Boca Raton, Fla. – Office Depot has formed its executive committee and leadership team.

The Retail Industry Leaders Association (RILA) has added Ajani Stewart to its sustainability team within the RILA legal department.

Stewart will be leading the development of RILA’s Center for Retail Compliance (CRC). RILA recently received funding to develop the CRC, a Web-based resource for retailers and stakeholders in the industry to access solutions and information for maintaining and achieving environmental compliance. Stewart is responsible for the development of the center.

A search is underway for a new CEO to lead Dorel Industries recreational and leisure products segment following the departure of Robert Baird.

Until a replacement for Baird is named, Peter Woods, CFO of the recreational and leisure segment, will serve as CEO. Baird joined Dorel as president of the recreation and leisure segment in 2008 as part of a reorganization after previously serving in a senior leadership role at Philips Electronics. He also held key roles as companies such as Samsonite, Scott Paper, Bristol Myers and Procter & Gamble before arriving at Dorel.

Alco is developing a strategy to improve profitability and deliver shareholder value, following a growing net loss during the third quarter of fiscal 2014, compared to the same period in the prior year.

Net loss totaled $16.4 million, compared to $1.4 million. Results in the third quarter of fiscal 2014 included a non-cash charge of $9.8 million related to a valuation allowance on the company's cumulative deferred tax asset, and $1.1 million of non-recurring expenses attributable to merger activity.

The flurry of activity continued at Office Depot as the company which resulted from the merger of Office Depot and OfficeMax laid groundwork for growth in 2014 by identifying some key leaders.

A little more than one month after Roland Smith was named chairman and CEO of Office Depot and one week after choosing Boca Raton, Fla., as the merged company’s headquarters, Smith announced a slate of senior executive positions that touch every aspect of the company along with several roles that are yet to be filled.

Cincinnati – Kroger has promoted Mark Tuffin to senior VP of retail divisions. He succeeds Michael Ellis, who will become Kroger's president and COO on Jan. 1, 2014.

Akron, Ohio -- Jared The Galleria Of Jewelry officially opened its 200th location in Carle Place, N.Y., at the Carle Place Commons Center. The store includes a complementary refreshment area, a children’s play area and a full-service custom jewelry design and repair center, which will custom mount, clean and repair most jewelry.

Hudson’s Bay Company has named Donald Watros, currently the company’s COO, as president of HBC, a newly expanded role. The appointment is effective Feb. 1, 2014.

The move comes as the company restructures its leadership so it can focus on managing and growing HBC’s presence in North America, as well as its expanding portfolio of brands.