Trading Partners

Washington, D.C. -- The National Retail Federation on Monday told the U.S. Supreme Court that the debate over debit card swipe fees is “of staggering importance” and asked the justices to review a ruling that left the Federal Reserve’s cap on the billions of transactions conducted each year at 21 cents rather than reducing it to a lower level.


The Coca-Cola Company plans to acquire a 16.7% interest in Monster Beverage Corporation in an unconventional partnership arrangement involving brands, global distribution and $2.15 billion in cash.

The companies entered into a long-term strategic partnership designed to leverage their respective strengths — Coke’s worldwide bottling system and Monster’s expertise in the energy segment of the beverage category — to accelerate growth globally.

Orlando, Fla. - Darden Restaurants Inc. has retained global executive search firm Russell Reynolds Associates to assist the company with the recruitment of its next CEO. As previously announced, Clarence Otis is stepping down as chairman and CEO of Darden.  

To ensure a smooth transition, Charles A. Ledsinger Jr. has been appointed independent non-executive chairman of the board, and Mr. Otis has agreed to continue serving as CEO of Darden until the earlier of the appointment of his successor or Dec. 31, 2014.

Newell Rubbermaid’s EVP and CFO Doug Martin has resigned from the company effective August 31, to be EVP and CFO at Spectrum Brands, effective September 1.

Newell Rubbermaid has retained Spencer Stuart to help the company search for a new CFO. While that search is underway, John Stipancich, the company's EVP, general counsel, corporate secretary and EMEA leader, has been tapped as interim financial chief.

Oak Brook, Ill. - Hub Group, a provider of intermodal, truck brokerage and logistics services, has received the 2014 Partners in Transformation Award from Sears Holdings.

Sears Holdings' Partners in Transformation Award is presented to supplier companies that excel in supporting Sears Holdings through innovation around integrated retail and the Shop Your Way program. Less than one half of 1% of more than 30,000 suppliers that work with Sears Holdings received this award.

Dr Pepper Snapple Group met or exceeded several of its corporate social responsibility goals over the past year, according to the 2014 report the company released Friday.
 
One of the goals it reports meeting was reducing its use of PET, a polymer used in beverage bottles. DPS conserved about 60.7 million pounds since 2007 by redesigning packaging and upgrading almost 70,000 older-model coolers and vending machines.

Brampton, Canada – Loblaw Companies Ltd. has named Pavi Binning as a director to its board. Binning currently serves as the president of food processing company George Weston Ltd. and has been a director of George Weston Ltd. since 2012.

Loblaw has appointed Pavi Binning, George Weston Limited president, as a director on the company’s board.

Binning has been a director of George Weston Limited since 2012. He joined the company in 2010 as CFO after spending a year as a director of Loblaw Companies Limited. Prior to joining Weston, Binning was at Nortel Networks Corporation, where he held the role of CFO and subsequently chief restructuring officer. Prior to that, Binning held CFO positions at both Hanson plc and Marconi Corporation plc, as well as executive positions at Diageo plc.