Mergers & Acquisitions

Keith Sherwell, who served as CIO of Sears Holding Corp from March 2010 to June 2013, has been named CIO of the Office Depot international division, effective Sept. 15. Sherwell advised the board of OfficeMax during merger negotiations with Office Depot, and has served as a technology integration consultant to Office Depot since the completion of the merger in November 2013.

Fremont, Calif. - Jos. A. Bank has reached an early termination agreement with Jim's Formal Wear, effective Dec. 31. The company will record a one-time charge of $4.5 million in its fiscal 2014 third quarter in connection with early termination of this contract to supply tuxedo rental inventory and logistics.

New York -- Amazon said that senior VP and CFO Thomas J. Szkutak plans to retire in June 2015. Brian T. Olsavsky, VP finance for Amazon’s global consumer business, will succeed Szkutak. Szkutak and Olsavsky will work together during the next 10 months as part of the transition.

Szkutak joined Amazon in 2002 as CFO, and oversees the controller, treasury, investor relations, tax, internal audit and facilities functions as well as financial management of the company’s business units.

Columbus, Ohio -- Chute Gerdeman, a global design consultancy, announced an expanded executive team, including the appointment of Brian Shafley as CEO.

“We are in one of the most productive and innovative periods of Chute Gerdeman’s 25-year history,” said Chute Gerdeman Co-chairman Denny Gerdeman. “With these promotions, we have assembled a highly-talented leadership team that is building on the exciting opportunities at hand.”

Wet Seal CEO John D. Goodman has resigned from the role he took in January 2013. He was charged with turning things around for the struggling retailer and replaced Susan McGalla, who was herself ousted after 11 months amid declining sales.

Clearwater, Fla. - MarineMax Inc. has expanded its financing facility to provide for borrowings of up to $235 million. The expanded facility has a three-year term, expiring in August 2017, and it has two, one-year options to renew, subject to lender approval.

Boca Raton, Fla. – Keith Sherwell, who served as CIO of Sears Holding Corp from March 2010 to June 2013, has been named CIO of the Office Depot international division, effective Sept. 15. Sherwell advised the board of OfficeMax during merger negotiations with Office Depot, and has served as a technology integration consultant to Office Depot since the completion of the merger in November 2013.

Foothill Ranch, Calif. -- Wet Seal Chairperson Lynda Davey is resigning from her post, effective Oct. 1. The announcement of her resignation comes on the heels of the departure of the troubled teen retailer’s CEO. Davey will be replaced by Adam Rothstein.