Corporate Governance

PepsiCo has appointed Tony West EVP of government affairs, general counsel and corporate secretary, effective Nov. 24. He succeeds Larry Thompson, who is retiring after almost a decade of service.

Frankfort, Ill. – Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of Prairie Crossings Shopping Center in Frankfort, Illinois. The 109,079-square-foot center was purchased by Oak Brook, Illinois.-based Inland Real Estate Corporation for $24.66 million.

New York -- Wal-Mart Stores Inc. on Tuesday said it will no longer provide health benefits to part-time associates who work less than 30 hours a week in a move to control its rising healthcare costs. The chain, the nation’s largest private employer, said the decision will impact about 2% of its total U.S. work force.

The announcement follows similar decisions by Target, Home Depot, Walgreens and Trader Joe’s to cut health insurance benefits for part-time associates.  

Grapevine, Texas -- Grapevine Mills, the largest outlet and value retail shopping destination in North Texas, welcomed Torrid to its retail line-up of more than 180 stores, and will soon enhance its selection when Steve Madden opens in October.  

For the first time in its history, Amazon will feature top deals from sellers on holiday deal pages worldwide. The holiday deals from sellers will now appear on the Amazon Today’s Deals page, Black Friday Store, Cyber Monday Store and many other high customer traffic site features.

Burlington, N.J. - Affiliates of Bain Capital Partners LLC and certain other stockholders of Burlington Stores Inc. intend to offer eight million shares of the company’s common stock in an underwritten public offering. The offering consists entirely of secondary shares to be sold by the selling stockholders.

Burlington Stores will not sell any shares in the offering and will not receive any proceeds from the offering. J.P. Morgan is acting as sole book-running manager for the offering.

Wolverine Worldwide has appointed Melissa A. Howell SVP of global human resources. Howell will report directly to chairman, CEO and president Blake Krueger.

Howell has more than 24 years of experience in human resource management with General Motors, one of the world's largest automobile companies, with more than 200,000 employees in more than 150 countries. Howell most recently served as SVP of global human resources and also held numerous other human resource leadership roles during her time with the company.  

Springfield, N.J. – Store closing and pre-opening costs, as well as an unfavorable state tax ruling, reduced net income at Village Super Market Inc. 5% to $5.87 million in the fourth quarter of fiscal 2014, from $6.2 million in the same quarter the prior year. Two new store openings helped boost net sales 5.5% to $383.8 million, from $376.3 million.

Same-store sales rose 9%. For fiscal 2015, Village Super Market expects same-store sales to range from flat to slightly positive.