Labor & Employment

NEW YORK — Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately, replacing Ron Johnson, who is leaving the company. Ullman, who served as CEO of Penney until late 2011, has also been elected to the board of directors.

Johnson’s departure was not all that unexpected given the chain’s mounting losses and sales declines. But it was still a stunning reversal of fortune for the former golden boy of Apple, who left the tech giant amid great fanfare for the top job at Penney.

New York -- OfficeMax and Office Depot on Tuesday announced they have formed a search committee to select a CEO for the combined company. They also said they have received a request for more information from the Federal Trade Communication about their planned merger.

BENTONVILLE, Ark. — Walmart has announced a $1.6 million donation to the Institute for Sustainable Communities (ISC), a U.S. based NGO, to establish the Environmental Health and Safety (EHS) Academy in Bangladesh. Sida, the Swedish International Development Cooperation Agency, is also a partner in providing support for the new Academy.

ST. LOUIS — Post Holdings announced that after discussions with the union representing hourly employees at the Modesto, Calif. plant, the company's management has made a decision to close the Modesto plant.  The Modesto plant has approximately 140 employees. The transfer of production capabilities and closure of the plant is expected to be completed by September 2014. 

New York -- Macy’s and J.C. Penney are slated to be back in New York state court on Monday unless a last-minute settlement regarding Macy’s right – or not – to sell certain Martha Stewart products is reached.

The two retailers are coming out of a month-long mediation stint, but so far no settlement has been reached.

According to a Monday report by Reuters, witness are scheduled to be on the stand Monday and Tuesday, including J.C. Penney marketing executives.  

New York -- Ron Johnson is out as CEO of J.C. Penney. In making the announcement, the company also said that that Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately. Ullman, who served as CEO of Penney until late 2011, has also been elected to the board of directors.

Johnson’s departure was not all that unexpected given the chain’s mounting losses and sales declines. But it was still a stunning reversal of fortune for the former golden boy of Apple, who left the tech giant amid great fanfare for the top job at Penney.

NEW YORK — Cache Inc., a specialty chain of women’s apparel stores, announced that Michael Price, managing partner of MFP Partners, L.P., Cache’s largest shareholder, has joined the board of directors. In addition, Charles Hinkaty, formerpresident and CEO of Del Laboratories Inc., has been appointed to the board. In connection with their appointments, Michael Price and Charles Hinkaty have been appointed to the nominating and governance committee and the compensation and plan administration committee of the oard.

Washington, D.C. -- A report on Friday by the Labor Department showed that retail employment declined by 24,000 in March, the biggest slide since February 2012. The largest hiring slump occurred among clothing and accessories stores, which dropped 15,000, followed by a 10,000 decrease among building-material and garden suppliers.
 
Retailers have been slow to hire largely because of the concern over the 2% increase in payroll taxes and how the bump is impacting consumer spending.