Trading Partners

Dallas -- SRS Real Estate Partners announced the hiring of Scott Landgraf as senior VP in the company’s Newport Beach, Calif., office.

Prior to joining SRS, Landgraf was senior VP at Colliers International.

Landgraf specializes in retail tenant representation and investment sales throughout southern California and the Inland Empire.
 

ATLANTA — Coca-Cola on Thursday announced that Geoffrey Kelly will be retiring from his post as SVP and general counsel.

Kelly, who joined the company in 1970, will retire in February 2012. He has served in the role of SVP and general counsel since 2005.

Succeeding Kelly is Bernhard Goepelt, who will take on the role of SVP general counsel and chief legal counsel, effective immediately. Kelly will remain SVP during a transition period, Coca-Cola noted.

Los Angeles -- CBRE said Friday that Michael F. Smith has been promoted to president of the company’s Western Division. Smith, who has led CBRE’s San Francisco Bay area operations since 2002, succeeds Steven Swerdlow, who has been appointed COO of the Americas.

In his new role, Smith will direct CBRE’s operations in more than 46 offices in nine states, with responsibility for all lines of business. He will continue in his role as Bay Area market leader until a successor is named.
 

Beachwood, Ohio -- DDR Corp. announced the appointment of Luke Petherbridge as senior VP capital markets. In this role, Petherbridge will be primarily responsible for capital raising, actively managing the balance sheet and maintaining strong lender relationships.

New York City -- The board of Sears Holdings Corp has approved the spinoff of Sears’ Orchard Supply Hardware Stores Corp.

Sears announced its intention to spin off the 89-store hardware store chain in June, saying both companies could better focus on their goals as separate firms.

Chicago -- Illinois House leaders have agreed to pass tax breaks in order to keep Sears Holdings Corp. from abandoning its Hoffman Estates, Ill., headquarters in search of a new out-of-state home, according to Reuters.

The deal is also designed to keep Ill.-based securities and commodities trading company CME Group in-state as well.

The House had previously shot down the tax package. 

Bentonville, Ark. -- Wal-Mart Stores Inc. revealed Thursday it has launched an internal investigation into whether its overseas operations complied with the U.S. Foreign Corrupt Practices Act in matters including permitting, licensing and inspections. 

Few details about the internal probe have been released, but the retailer revealed the investigation in a quarterly report filed Thursday with the Securities and Exchange Commission. The law in question deals with bribery and accounting rules when companies are doing business overseas. 

Bentonville, Ark. -- A Friday report by Reuters said that Wal-Mart Stores Inc. disclosed an agreement Thursday to sell more than 70 million shares by a firm controlled by members of the founding Walton family.

Walton Enterprises LLC, controlled by S. Robson Walton, Alice L. Walton, Jim C. Walton and the John T. Walton Estate Trust, registered for sale 70,615,608 shares of company stock. That represents about 2% of Wal-Mart's outstanding shares.