Corporate Governance

Longtime Kroger executive and current chairman David Dillon is retiring Dec. 31 after 38 years with the company. Dillon, 63, will be replaced as chairman by Rodney McMullen, who also succeeded Dillon as CEO at the start of 2014, the company said. McMullen has served on the board since 2003.

The globalization of Walmart’s domestic operations continued this week with the appointment of Judith McKenna to the role of chief operating office for Walmart U.S.

Walmart’s integrity suffered a blow this week in a Bloomberg piece with the inflammatory headline, “How Walmart made its crumbling China business look so good for so long.”

Timing is everything. The Bentonville Bella Vista Chamber of Commerce had already secured Judith McKenna as a speaker for an upcoming event when she was given a major promotion this week.

University of Arkansas alumni Ann and Gene Bordelon have contributed $100,000 to establish the Faculty Innovation Endowed Fund for the benefit of the Sam M. Walton College of Business.

Wet Seal may file for bankruptcy protection if it fails to immediately resolve its liquidity issues, the company said.

Expense control and a more rational promotional environment helped Toys “R” Us reduce the size of its third quarter operating loss but the company had little to say about its outlook for Christmas sales and profits.

The paint competition will heat up in March as Lowe’s rolls out HGTV HOME by Sherwin-Williams.

The HGTV HOME by Sherwin-Williams product line will feature what both companies describe as “a new and improved interior and exterior paint program.” The line will be available at both Sherwin-Williams' company stores and Lowe's stores nationwide, as well as exclusive line extensions available at Lowe's.

Kroger announced that Nora A. Aufreter has been elected to the company's board of directors.

DEERFIELD, Ill. - Walgreens president and CEO Greg Wasson informed the company’s board of directors that he will retire shortly after the completion of the merger between Walgreens and Alliance Boots, of which shareholders are scheduled to vote on Dec. 29, 2014.