Labor & Employment

MEMPHIS, Tenn. -- The nation’s largest automotive parts retailer announced another quarter of record results in which earnings per share advanced nearly 36% to $3.34 on same-store sales that grew 7.1% for the quarter ended Feb.12.

WOONSOCKET, R.I. — As previously announced and widely reported, March 1 marks the day that Larry Merlo officially assumes the role of CEO of CVS Caremark. Merlo, who now serves as president and CEO, succeeds Tom Ryan, who remains nonexecutive chairman until his retirement at the company's Annual Meeting of Shareholders in May.

SAN BERNARDINO, Calif. -- Stater Bros. chairman and CEO Jack Brown has joined the likes of Bob Hope, Will Rogers and Ronal Reagan as a recipient of the prestigious Patriot Award, the company announced. 

The Congressional Medal of Honor Society presented Brown with the award on Feb. 26 at the Ronald Reagan Presidential Library in Simi Valley, Calif., where 45 Medal of Honor recipients and other notable guests were gathered, the company reported.

New York City -- Shareholders of J.Crew Group have approved a $3 billion deal to be taken private by two investment firms.

The $43.50-per-share buyout by private-equity firms TPG Capital and Leonard Green & Partners is expected to close on or near next Monday. J. Crew CEO Millard (Mickey) Drexler will remain with the company.

New York City -- Forest City Enterprises announced Tuesday that, as part of the company’s succession planning process, current president and CEO Charles A. Ratner will become chairman of the board, and will be succeeded as president and CEO by David J. LaRue, currently executive VP and COO.

The changes will be effective following Forest City's annual meeting of shareholders on June 10.

Boca Raton, Fla. -- Woolbright Development announced that it has appointed Geoff Higginbotham as director of accounting.

Higginbotham is responsible for the monthly, quarterly and annual financial reporting for the company’s wholly owned assets and partnerships. He was previously corporate controller for Turnberry Associates in Aventura, Fla.

Woonsocket, R.I. -- CVS Caremark Corp. announced Tuesday that Larry J. Merlo has assumed the role of chief executive. Merlo, now president and CEO of CVS Caremark, succeeds Thomas M. Ryan who will remain non-executive chairman until his retirement at the company's annual meeting in May.

Merlo, a pharmacist by training with over 30 years in pharmacy health, joined CVS/pharmacy in 1990 through the company's acquisition of Peoples Drug.

BEAUMONT, Texas -- Conn’s announced that it has appointed Theodore Wright to the position of interim CEO and president, following the news that Timothy Frank will step down as president and CEO of the company and resign as a director to pursue other opportunities.Conn’s said it will immediately commence a formal search to identify a permanent CEO.

MIDDLEBURY, Conn. -- Timex Group announced that it has named Gary Cohen president and CEO of the company. Cohen will also join the company’s board of directors.

“I feel honored to lead one of the world’s largest and most iconic watch companies,” Cohen said. “I look forward to developing new business opportunities across our extensive portfolio of brands in both developed and emerging markets worldwide.”

NEW YORK -- Jill Granoff is stepping down as CEO of Kenneth Cole Productions. According to a company press release the decision was a mutual agreement between Granoff and the board of directors. Kenneth Cole, chairman and chief creative officer, will act as interim CEO. Paul Blum, who was with the company for 15 years and served as president from 2002 to 2006, has agreed to return to the company and assume the role of vice chairman.