Strategy

The Global Food Safety Initiative has named three new members to its board of directors. The appointments were effective as of January 2013.

Joining the board are:

John Carter, senior director own brand and product quality assurance, Metro Cash & Carry, Germany

Anthony C. Huggett, VP quality management, Nestlé, Switzerland

Jian Xu, VP China Resources Vanguard Corporation, China

NEW YORK — Iconix Brand Group has gained a controlling stake of the apparel brand, Buffalo David Bitton from Buffalo International.

Iconix now owns 51% of the brand and as part of the deal, formed a new joint venture company with Buffalo International. Iconix will control this joint venture and consolidate its results.  Buffalo International will be the core licensee for the new joint venture.

ATLANTA — Newell Rubbermaid reported that net sales in the fourth quarter were $1.52 billion, an increase of 1.6% compared with the prior year. Sales growth was largely attributable to the tools, baby and parenting and writing segments and to robust growth in Latin America, the company said.

Foothills Ranch, Calif. -- The Wet Seal Inc. on Friday announced that its COO is resigning as the struggling retailer initiates a corporate workforce reduction as part of a broader cost-saving initiative. In other moves, it will shutter two poor-performing Arden B stores.

The struggling chain, which also authorized a $25 million stock buyback program, said president and COO Ken Seipel resigned effective immediately. His position will not be filled. Instead, Seipel's duties will be shared between CEO John Goodman and CFO Steve Benrubi.

New York -- The Jones Group Inc. said Monday it has appointed Joseph Stafiniak to the newly created position of SVP merchandising of Nine West, effective immediately.

Stafiniak will operate as the lead merchant for Nine West, overseeing merchandising strategies and the execution of product to meet the expanding needs of the brand's global business.

Stafiniak comes to Jones Group from Coach, where he most recently served as SVP licensed categories.

FOOTHILLS RANCH, Calif.  —  The Wet Seal Inc. on Friday announced that its COO is resigning as the struggling retailer initiates a corporate workforce reduction as part of a broader cost-saving initiative. In other moves, it will shutter two poor-performing Arden B stores.

The struggling chain, which also authorized a $25 million stock buyback program, said president and COO Ken Seipel resigned effective immediately. His position will not be filled. Instead, Seipel's duties will be shared between CEO John Goodman and CFO Steve Benrubi.

MINNEAPOLIS — Supervalu has named Sam Duncan president and CEO.

HAMILTON, Bermuda — Bacardi Limited has named Andy Gibson chief marketing officer of Bacardi and president of Bacardi Global Brands.

In these roles, Gibson will be responsible for the overall leadership and strategic direction of the company’s internationally known portfolio of premium spirits brands. He also will serve as a member of the Bacardi Leadership Team and report to Bacardi Limited president and CEO Ed Shirley. Gibson joins Bacardi in late April and will be based at the Bacardi Global Brands headquarters in London.