Corporate Governance

A little over a year into his tenure as Target’s chairman and CEO, Brian Cornell has added new responsibilities as a member of the board of directors at KFC, Pizza Hut and Taco Bell parent company Yum! Brands.
 
Cornell’s appointment to the Yum board comes 13 months after he was named to the top job at Target and just three months after Target sold its pharmacy business to CVS Health for $1.9 billion. The latter is noteworthy because two executives with strong ties to CVS Health serve on Yum’s Nominating and Governance Committee.
 

A leading pizza chain is testing beacon technology – in stores in China.

Yum Brands subsidiary Pizza Hut is using devices from global beacon technology provider Sensoro at all 1,471 locations in mainland China through Sept. 23.

Fayetteville, N.C. -- GBT Realty Corporation announced that it has closed on The Shoppes of Fayetteville, a 15-acre site, located in Fayetteville, North Carolina, for $5 million. The 126,500-sq.-ft. center is in the midst of a $25 million redevelopment scheduled to be completed in summer 2016.

In the two months since the Department of Labor announced its proposed new overtime standards, much has been written about what it may mean for employers both big and small.

For business operators, the ramifications are still being assessed and significant impacts will be felt not only in labor costs but also in how their businesses will operate moving forward. There’s a larger and more important effort underway, however, and the overtime regulations are just one piece of the puzzle.

Lessons in Leadership is the name of a new documentary film profiling the life and contributions of Food Lion co-founder Ralph Ketner who turned 95 this month.

Don’t assume that the layoff of 275 IT employees in August 2015 by Target Corp. means the retailer is reducing its focus on in-house technology operations. According to the Wall Street Journal, the layoffs actually set the stage for a big push away from IT outsourcing and toward hiring 1,000 new global technology workers.

Costco Wholesale Corp. is getting down to business on processing payments from small-to-mid-sized business (SMB) customers.

The wholesale chain is extending an existing relationship with payment processing solutions provider Elavon aimed at improving service and security for SMB members.

The payment processing program for Costco’s SMB members includes POS, mobile and e-commerce solutions, all of which adhere to EMV and PCI compliance requirements. Costco members can obtain program services online and in-store.

In a retail world focused on omnichannel strategies, product and service innovations, IT investments and technology-enabled stores of the future, winning retailers are taking a new look at their store labor models and budgets. Store associates represent one of the biggest contributors to the success or failure of brick-and-mortar stores. In many ways, they are a retailer’s most powerful asset.