Labor & Employment

J.C. Penney said activist investor Bill Ackman resigned from the company’s board and was replaced by former Federated Department Stores executive Ron Tysoe.

New York -- Jos. A. Bank Clothiers on Tuesday came under criticism from BeaconLight Capital LLC, which owns more than 1% of the men’s apparel chain. In an open letter to the company’s board, the investment manager called for a reorganization of the retailer's board and return of cash to shareholders, preferably through buy-backs.

New York -- Activist investor Bill Ackman of Pershing Square Capital Management plans to abandon his push for a quick replacement to J. C. Penney CEO Mike Ullman, according to the New York Post. The report says that it now appears that Penney will proceed with a more deliberately paced search for a replacement for Myron Ullman, who assumed the role of interim CEO in April in the wake of Ron Johnson's firing.   

CITY OF COMMERCE, Calif. — Stéphane Gonthier, chief operating officer at Dollarama since September 2007, will be leaving the company to become president and CEO of 99 Cents Only Stores, as well as a member of its board. 

Gonthier’s appointment is expected to become effective in the next 60 days. Interim CEO Richard Anicetti, a successful food retailing executive, will return to his role solely as a member of the board.

New York -- Brooks Brothers has named Vivien Kronengold as the company’s executive VP and chief marketing officer, a newly created position. The company also appointed Mauro Calderan as COO. Calderon previously served as senior VP, distribution and logistics.

The appointments come less than a week after Brooks Brothers president and COO Diane Ellis was named CEO at the Limited.

CAMDEN, N.J. — Campbell Soup Company announced that it is in final and exclusive negotiations for the potential sale of its business in Europe to CVC Capital Partners, a leading global private equity firm. 

Boca Raton, Fla. – Office Depot and OfficeMax have identified the top five candidates for the role of CEO in the new company that their proposed merger will form. In a joint press release, the office supply retailers said that after reviewing and vetting more than 100 candidates and interviewing eight, the CEO Selection Committee has narrowed the selection process to five candidates it believes can lead the combined business forward following the merger, with the goal of having a permanent CEO in place by September.

The field of candidates to serve as CEO of the merged Office Depot and OfficeMax has been narrowed to five with September set as the goal to have an executive in place to lead the $18 billion combined company.