Corporate Governance

Brooklyn, N.Y. – Etsy Inc., the online marketplace for handmade arts, crafts and clothing, has gone public with a bang. Shares opened on Thursday at $31 a share, almost twice their initial public offering price. As of April 16, Etsy is trading on the NASDAQ stock exchange under the ticker symbol “ETSY.”

After the offering, the total number of shares outstanding will be 110.9 million. Based on the opening price, Etsy is valued at over $3.7 billion.

Deerfield, Ill. - Walgreens Boots Alliance is ahead of schedule in its synergy efforts since Walgreens and Boots officially merged in December 2014. At its 2015 Analyst Day in New York City, the retailer’s leadership team outlined plans to support the customer experience in its Retail Pharmacy USA division with investments in key operational efficiencies such as IT systems, modernizing pharmacies and investing in customer care.

Minneapolis – Target Corp. has entered into a settlement agreement with MasterCard International Inc.to resolve losses from the data breach that Target experienced during the fourth quarter of 2013. Under the agreement, alternative recovery offers will be made by MasterCard to eligible MasterCard issuers worldwide that claimed to have been affected by the data breach. 
 

Mooresville, N.C. – Reduced stock awards and incentives resulted in a roughly 24% pay cut for Robert Niblock, president, chairman and CEO of Lowe’s Companies Inc., in 2014. In an SEC filing, Lowe’s reported that Niblock’s total compensation in 2014 came to $14.3 million, compared to $18.7 million in 2013.
  Niblock’s base salary grew 5% to $1.3 million from $1.2 million. However, Niblock’s stock awards fell to $5.8 million from $9.8 million, and other incentives decreased, as well.

Vancouver, Wash. – Papa Murphy’s Holdings Inc. has appointed Jean M. Birch, Rob Weisberg and Jeffrey B. Welch as independent members of its board of directors, effective April 15, 2015. The appointments replace both Thomas H. Lee and Achi Yaffe, who have resigned from the board, as well as increase the board size by one seat.

A record number of openings in 2014 pushed 99 Cents Only close to the 400 unit mark, but the rapid pace of expansion did not translate to profitability during what the company called a transformative year.

Arlington, Va. – The Retail Industry Leaders Association has released the 2015 Retail Sustainability Management Maturity Matrix, a tool for retail sustainability executives to identify possible pathways to strong environmental sustainability programs. The Matrix, co-developed by RILA and Deloitte Consulting LLP, represents the collective knowledge of many industry experts as to leading sustainability management practices.

Beijing, China – Chinese direct sales company JD.com Inc. is launching JD Worldwide, its new cross-border e-commerce platform that directly challenges Alibaba. JD Worldwide provides Chinese consumers with authentic imported products.

In a coup over Alibaba, JD.com is also launching of "Best of EBay Deals," a pilot program on the new platform in partnership with EBay. EBay’s channel on JD Worldwide will showcase a variety of merchandise from select EBay sellers in the U.S.