Labor & Employment

Top Dick’s Sporting Goods executives Joe Schmidt and John Duken have announced plans to leave the retailer before the end of the fiscal year.

Schmidt has served as Dick’s president and COO since 2009. He joined the company in 1990 and has served in key leadership roles with the retailer during his 24 year tenure. Schmidt will remain with the company until the end of the fiscal year, but could leave sooner once a successor is named.

New York - India, China, and Malaysia are the top-ranked offshoring destinations. According to the 2014 Global Services Location Index (GSLI) from A.T. Kearney, India, China, and Malaysia remain the top three offshoring destinations, and Asia continues to dominate, with six of its countries among the top 10.

Cambridge, Mass. -- Highland Consumer Partners, a growth-stage venture capital firm focused on the consumer sector, announced that retail executive Marty Hanaka joined the firm in August of this year as an operating partner.

Hanaka most recently was the interim CEO of Guitar Center, from January 2013 to April 2013.  

Previously, he served as the chairman of Golfsmith International Holdings, from April 2007 to November 2012, and was CEO from June 2008 to November 2012.   

New York -- Sears Holdings Corp. said in regulatory filing that it would borrow $400 million from the hedge fund of its CEO, Edward Lampert, who is also the company’s largest shareholder.  

Sears received the first $200 million of the loan from Lampert's ESL Investments on Monday, and expects to receive the remaining amount on Sept. 30.

The company said it would use the money for “general corporate purposes.

Fort Worth, Texas – John Feray, who had served as CFO of RadioShack for less than a year, has resigned from the company, citing personal reasons. Holly F. Etlin, managing director of AlixPartners and longtime RadioShack advisor, has been named interim CFO of the struggling retailer. She previously served as RadioShack's interim CFO from July 2013 to February 2014.

Wolverine Worldwide is looking to bolster its brand leadership and management team. To that end, the company has promoted Rick Blackshaw to president, Sperry Top-Sider, and Chris Lindner to president, Keds.

Blackshaw served most recently as president of Keds, where he is credited with leading the brand to a global resurgence with a focused consumer-centric business strategy, outstanding product and compelling marketing. Blackshaw came to Keds from Converse, where he was the VP and GM of the Chuck Taylor footwear business.    

York, Pa. - The Bon-Ton Stores, Inc. will close its Carson’s Fox Valley Furniture Gallery in the Heritage Square Shopping Center in Naperville, Illinois. The company will not renew its lease, which terminates Jan. 31, 2015.

Leading shopping center owner and operator DDR Corp. announced that CEO Daniel B. Hurwitz and the board of directors have decided not to renew his employment agreement, which expires December 31, 2015. It is anticipated that Hurwitz will remain CEO through 2015 to ensure a smooth leadership transition.