Labor & Employment

NAPLES, Fla. — ACI Worldwide, an international provider of payment systems, has named Daniel Frate as EVP global markets and product management.

Frate most recently served as EVP and head of products and pricing at PNC Bank. Building on ACI's product leadership position, Frate will be charged with delivering customer satisfaction through tight alignment of product roadmaps with market needs. He will be based out of the company's Naples, Florida headquarters.

DALLAS and ATLANTA — The Home Depot bolstered its home improvement selection with the acquisition of U.S. Home Systems, a manufacturer of kitchen, bathroom and other remodeling products, as well as storage organization systems for closets and garages. Currently, USHS serves as the exclusive provider of kitchen and bath refacing products and services as well as closet and garage organizational systems to The Home Depot.

Hingham, Mass. -- Private equity firm Sycamore Partners, which has wrapped up its $391 million acquisition of The Talbots, appointed Michael Archbold, formerly president and COO of Vitamin Shoppe, as CEO and CFO of Talbots. Archbold, who also served as executive VP and CFO of Saks Fifth Avenue, replaces Trudy Sullivan, who resigned from the CEO’s job after Sycamore completed its acquisition of Talbots late last week.

Gouverneur, N.Y. -- Kinney Drugs Inc. said Tuesday it has promoted Jim Spencer from his current position as VP retail operations to COO, effective immediately.

Spencer, who joined Kinney Drugs in 2010, will oversee retail and pharmacy store operations and the retail merchandising department.

BENTONVILLE, Ark. — Wal-Mart Stores Inc. will adjust its future financial reports to add more detail on legal proceedings and cyber security after U.S. regulators asked the retailer to better explain certain matters in its latest quarterly and annual filings, Reuters reported.
  
Wal-Mart's correspondence with the U.S. Securities and Exchange Commission took place in June and July and was made public on Monday.

CAMDEN, N.J. — Campbell Soup Company has completed the acquisition of Bolthouse Farms from a fund managed by Madison Dearborn Partners LLC, a private equity firm, for $1.55 billion in cash. Campbell funded the acquisition through a combination of short- and long-term borrowings.

Bentonville, Ark. -- The Walmart Foundation announced Tuesday the launch of its Partnership for Women’s Prosperity, a move to help economically vulnerable women gain financial and economic security through education, job training and employment opportunities.

BENTONVILLE, Ark. — The Walmart Foundation alongside six women’s foundations – The Washington Area Women’s Foundation, The New York Women’s Foundation, Women’s Fund of Mississippi, Women’s Foundation of Minnesota, Women’s Foundation for a Greater Memphis and Women’s Funding Network – has launched the Partnership for Women’s Prosperity. The new national partnership intends to help economically vulnerable women gain financial and economic security through education, job training and employment opportunities.