Mergers & Acquisitions

By now it’s old news that Apple plans to disrupt retail payment with its Apple Pay platform. However, lost in the hoopla surrounding Apple Pay was an interesting announcement that Apple is also working on a new interactive, piracy-proof digital music service that it hopes will bring consumers back to purchasing whole albums, as well as individual songs.

Los Angeles -- In its latest management shakeup, American Apparel has named Scott Brubaker as interim CEO, effective immediately. He replaces John Luttrell, who is resigning. Luttrell took the reins of the troubled company in June after the board removed controversial founder Dov Charney from the top spot for alleged misconduct. He also served as CFO.

Brubaker, 43, is a managing director at consulting/turnaround firm Alvarez & Marsal, and has handled interim leadership jobs for specialty retailers, including Eddie Bauer, in the past.

New York -- Standard General LP is in talks to improve RadioShack’s cash position in advance of the holiday season, Reuters reported. The hedge fund said it was in talks with the struggling retailer to buy the company's loans and other commitments under its asset-backed credit facility.

Standard General has also raised its stake in RadioShack to 9.8% from 7.08%. It is now the retailer’s largest shareholder.

Alpharetta, Ga. - McAlister's Deli has signed an agreement with new franchise group MidSouth Hospitality Inc. to open 10 locations in Middle Tennessee. Led by McAlister's veteran Charles Corley, MidSouth Hospitality will be opening its first McAlister's in early 2015.

The newly formed company plans to open a total of 10 new restaurants during the next seven years.

Lakewood, Colo. -- Einstein Noah Restaurant Group, whose banners include Einstein Bros., Bagels, Noah's New York Bagels, and Manhattan Bagel brands, has agreed to be acquired by JAB Holding Company for approximately $374 million.

The agreement, unanimously approved by Einstein Noah Restaurant Group’s directors, represents a premium of approximately 47% over Einstein Noah’s 30-day average trading price.

Coach has announced that executive chairman Lew Frankfort plans to retire upon his term’s expiration. He will not stand for re-election to the board at the company’s annual meeting of stockholders in November.

The company intends to bestow upon him the honorary title of chairman emeritus at that time.

Strategist, adviser, communicator, futurist: Retail chief financial officers have seen their role broaden so much in recent years that, in some cases, they have become virtual partners with the CEO. Once responsible primarily for financial stewardship, the CFO is embracing a growing number of additional roles encompassing strategic planning, technology and perhaps even a bit of crystal ball gazing.

As the traditional CFO role expands beyond accounting and compliance to a more strategic role and partner to the CEO, the capabilities that future CFOs will need to bring to the table are also evolving.