Corporate Governance

Deerfield, Ill. - Walgreens has named Barry Rosenstein, founder and managing partner of New York City-based hedge fund Jana Partners LLC, to its board of directors. The company is expanding its board it continues moving forward to complete its merger with Alliance Boots GmbH.

Woonsocket, R.I. - CVS Health has completed the purchase of Miami-based Navarro Discount Pharmacy, the largest Hispanic-owned drugstore chain in the U.S. The acquisition includes Navarro's 33 retail drugstore locations and Navarro Health Services, a specialty pharmacy serving patients with complex or chronic diseases.

The retail drugstores will retain the Navarro Discount Pharmacy name.

Toronto - Staples Canada is expanding its Bullfrog Power partnership to support renewable energy in four additional stores. Through the partnership, Bullfrog Power injects clean, renewable electricity onto the grid to match the amount of energy the Staples facilities use.

Eden Prairie, Minn. - ShopHQ, a multichannel electronic retailer, has selected Manhattan’s Warehouse Management System (WMS) to help the company increase throughput and capacity of its distribution and fulfillment operations. The software deployment is part of an expansion of the company’s Bowling Green, Kentucky-based distribution center, which will more than double in size from 260,000 sq. ft. to 600,000 sq. ft. by the end of 2015.

Las Vegas - Cricket Wireless and GameStop Corp. are launching a new strategic retail relationship that will offer Cricket Wireless' no-annual contract service in more than 2,800 GameStop U.S. store locations. Starting in October after a successful trial in select markets, GameStop will begin selling Cricket Wireless no-annual contract service and smartphone devices and accessories.  

New York – Worthy, a secure online marketplace for pre-owned luxury goods, will be moving its global headquarters into New York City's jewelry district. The company will be moving into the 28th floor of the Fred F. French building located at 551 Fifth Avenue.

West Berlin, N.J. - E Z Pantry Inc. is expanding its grocery shopping and delivery service to senior citizens and the disabled community. With this grocery delivery service, customers in the South Jersey area including Camden, Burlington, and Gloucester counties can call in their orders and have their food delivered the next day.

Oak Brook, Ill. - Dollar Tree has signed a 12,767-sq.-ft. lease at Pelham Manor Shopping Plaza in Pelham, New York, bringing the center to 100% leased for the first time since it opened in 2008. The 228,000-sq.-ft. center caters to the surrounding neighborhoods of Pelham Manor, Mount Vernon, New Rochelle, and the north Bronx.

Acquired in 2013, the center features national retailers such as BJ's Wholesale Club, PetSmart, Michaels and more. Dollar Tree will be located next to Five Guys Burgers and Fries and is expected to open in early November.

New York – Chinese e-commerce giant Alibaba Group Holding Ltd. has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) that media reports indicate could be worth as much as $24.3 billion, making it the biggest U.S. initial public offering ever.

According to Bloomberg, Alibaba is seeking a valuation as high as $162.7 million, in the upper end of the proposed price range and higher than that of any other public Internet company in the U.S. except Google and Facebook.

Welch's has appointed Mari Rodriguez as the VP of R&D/corporate quality. Most recently, Rodriguez was the senior director of beverage R&D with Campbell’s, where she developed and helped launch numerous V-8 products.

“Welch’s is the leader in Concord grape research and product development,” said Rodriguez. “I’m thrilled to be joining their team of grape experts to help further expand the brand’s portfolio of delicious products and bring the benefits of the Concord grape to more families.”