Mergers & Acquisitions

With the retail environment changing so rapidly today, and technology impacting everything a store does, the role of the chief financial officer has become more important than ever.

When I started recruiting in 1990, the business was much simpler — we hired retail executives based on a linear skillset, and departments operated in individual silos. Today, it is much more complex, as the C-suite works in collaboration to keep up with an increasingly savvy consumer.

So, what then do you look for in a CFO today?

Editor’s Note: The 27th annual survey of Fastest-Growing Managers tallies new domestic and international third-party management and leasing contracts obtained during the 2015 calendar year and ranks the top performers. As always, the measuring stick is square footage.

This year’s fastest-growing third-party managers are taking many roads to growth, from acquisition to a multidisciplinary focus.

One of the nation’s largest franchisees will soon also be operating GNC stores.

Moving ahead with its plan to reduce its corporate-owned store footprint, GNC announced plans to sell 84 company-owned locations to Dallas-based Sun Holdings for about $17 million. The retailer revealed the sale amid disappointing first quarter results.

Retail Properties of America named Paula Maggio to the role of executive VP, general counsel and secretary, effective May 2.

Maggio joins Retail Properties of America following a 16 year career with Strategic Hotels & Resorts where she most recently served as executive VP, general counsel and secretary. Prior to that she practiced law with Altheimer & Gray, where she focused primarily on real estate and hospitality law.

Academy Sports + Outdoors has opened a 1.6 million square foot distribution center that dramatically increases the company’s ability to support store expansion and omnichannel initiatives.

The man who turned a single struggling bookstore he bought in 1965 into a retail empire is retiring from active duty.

Leonard Riggio, founder and executive chairman of Barnes & Noble Inc., announced that he will retire as chairman in September, following the chain’s annual shareholder meeting.

“I’ve done everything I have wanted to do in business and now it is time for me to pursue the many other endeavors related to my philanthropic and social interests,” said Riggio.

May 20 is shaping up as a momentous day at Brixmor Property Group with newly appointed CFO Angela Aman slated to begin work the same day as recently appointed CEO Jim Taylor.

Aman’s appointment as CFO was announced in conjunction with the release of Brixmor’s first quarter financial results on April 26 and follows the April 12 announcement that James Taylor had joined the company as CEO.

It’s closing time for Sports Authority, which is giving up on reorganization.

An attorney for the sporting goods retailer told the judge in bankruptcy court on Tuesday that the company is no longer pursuing reorganization and exiting Chapter 11. Instead, it will look for buyers to purchase some or all of its remaining stores.

“It has become apparent that the debtors will not reorganize under a plan but instead will pursue a sale,” company attorney Robert Klyman said in court.