Labor & Employment

Electrolux has entered into an agreement to acquire the appliances business of General Electric, one of the leading manufacturers of kitchen and laundry products in the United States, for a cash consideration of $3.3 billion.

Atlanta - S. Truett Cathy, founder and chairman emeritus of Chick-fil-A Inc., died at the age of 93 on Sept. 8.

Cathy got his start in 1946, when he opened a diner in a suburb of Atlanta. He invented the Chick-fil-A sandwich in 1964 and opened the company's first restaurant in Atlanta in 1967. Under his leadership, the quick-serve eatery grew into one of the nation’s largest family-owned companies, with annual sales of $5 billion in 2013. Currently, there are more than 1,800 Chick-fil-A restaurants operating in 40 states and Washington, D.C.

Lakewood, Colo. -- Einstein Noah Restaurant Group announced the appointment of Frank G. Paci as president and CEO, effective Sept. 15. Paci succeeds Michael Arthur who has filled the position on an interim basis since February 2014. Arthur will continue to serve as a board director.

Coppell, Texas – Alco Stores Inc. has named director Stanley B. Latacha as Interim CEO, effective immediately. Richard Wilson, who served as CEO for the past four years, has left Alco by mutual agreement with the board of directors.

Latacha has more than 30 years of retail experience, including overseeing turnarounds at Richman Gordman, Goody's, and more recently Pamida.

New York -- Sycamore Partners announced that it has reorganized its Nine West Footwear Group into four separate businesses, each with its own leadership team. The top leadership has changed as well, as the company announced Nine West Footwear Group CEO Kathy Nedorostek has stepped down. She will be replaced in the interim by Andrew Hede, a turnaround specialist and managing director with Alvarez & Marsal in New York.

Matthews, N.C. — Family Dollar Stores on Friday rejected the sweetened, $9.1 billion take-over bid made by Dollar General on Sept.

Dollar Tree and Family Dollar have amended their merger agreement to include a commitment by Dollar Tree to divest as many stores as necessary or advisable to obtain antitrust clearance for the previously announced cash and stock transaction.

All other terms and conditions of the merger agreement remain the same as announced on July 28, 2014. The two companies also said that their expectations for a closing date for the transaction have accelerated to as early as the end of November 2014.

New York - Tiffany & Co. has named Jill Beraud as an executive VP, effective Oct. 13. Beraud will have responsibility for global retail operations including all sales channels in every region, as well as oversight of strategic store development and real estate.

Beraud, 54, joins Tiffany from salon product manufacturer Living Proof where she has been CEO since 2011. Prior to that, her experience includes senior-level executive and marketing roles at PepsiCo Inc., L Brands, Inc. and The Procter & Gamble Co., among others.