Corporate Governance

Green Bay, Wis. -- Shopko on Monday named Peter McMahon, most recently COO of Loblaws, as its new CEO. Loblaws is Canada’s largest food retailer with over $30 billion in sales.

At Loblaws, McMahon was responsible for supply chain, IT, HR, labor relations, merchandising, store operations and loss prevention functions. Prior to Loblaws, McMahon held various senior level positions with some of the world’s largest retailers, including Wal-Mart in Germany and Japan and Tesco in central Europe.
 

Plano, Texas – J.C. Penney will no longer be included on the Standard & Poor’s 500 Index.  

Dow Jones Indices, which manages the S&P 500 as well as many other financial indices, said on Nov. 22 that Allegion, an Ireland-based provider of mechanical and electronic security products, will replace Penney on the S&P 500. Penney will join the S&P MidCap 400. The change will become effective after the stock market closes on Nov. 29.

Hoffman Estates, Ill. - Sears Holdings chairman Eddie Lampert is reportedly considering selling the company’s Sears Canada stores. According to the New York Post, Lampert has been quietly consulting banks including Goldman Sachs and reaching out to prospective buyers.

New York – More than half of consumers plan to shop on Black Friday this year, although the number has decreased since last year. According to the Deloitte Pre-Thanksgiving Survey, 53% of 1,000 consumers polled will shop on Black Friday, compared to 63% in 2012.

Younger consumers are more likely to shop Black Friday, with 68% of weekend shoppers age 18-29 planning to shop that day and 44% of Black Friday shoppers in this age group planning to hit the stores between midnight and 5 a.m., compared to 30% of those 30 and older.

Framingham, Mass. – Staples has launched an online ink and toner recycling program. The online program is an expansion of the existing, in-store Staples Rewards ink and toner recycling program.

The online program enables Staples Rewards members to recycle empty ink and toner cartridges by printing a pre-paid shipping label to send their cartridges in for recycling and receive $2 back in Staples Rewards for each one

Fort Worth, Texas – RadioShack has named Mark A. Boerio to the newly created position of senior VP, inventory planning and allocation, effective Dec. 3. He is the latest addition to the new leadership team being assembled by CEO Joseph C. Magnacca as the company executes its strategic plan to reposition the brand, revamp the product assortment, reinvigorate the stores, increase its operational efficiency and enhance financial flexibility.

Woonsocket, R.I. - Mark Cosby will step down as president of CVS/pharmacy effective Dec. 31. As retail president, he has led the company since October 2011 with responsibility for all aspects of the company's retail business including its more than 7,600 retail stores, 19 distribution centers and retail merchandising, supply chain, marketing, real estate, front store and pharmacy operations.

Brooklyn, N.Y. – 3-D printer manufacturer MakerBot has reportedly opened its first Boston retail store, and third store overall. According to the Boston Globe, MakerBot opened the store, located on Newbury Street, Nov. 21.

Glendenning, New South Wales, Australia – McAlpine Hussmann Pty. Ltd., a wholly owned subsidiary of Hussmann Corporation, has acquired the assets of the former Austral Refrigeration case equipment manufacturing and distribution operations from Retail FM (a wholly owned subsidiary of Woolworths Limited). At the same time, McAlpine Hussmann Australia Pty. Ltd. has acquired the Suzhou China case equipment manufacturing and distribution business from Retail FM.
 

Bentonville, Ark. – Wal-Mart Stores said Mike Duke will retire as president and CEO, effective Feb. 1, 2014, and will be replaced by veteran company executive Doug McMillon. McMillon, 47, president and CEO of Walmart International, was also named to Wal-Mart’s board, effective immediately.