Corporate Governance

Hudson, Ohio – Travis Smith has resigned as president and CEO of Jo-Ann Fabric and Craft Stores. Until a replacement has been identified, Jim Kerr, executive VP and CFO, will serve as Interim CEO of the company, while continuing in his current role as CFO.

The board of directors is undertaking a comprehensive search to identify a replacement. In his role as interim CEO, Kerr will partner with Riddi Kline, executive VP of marketing and merchandising, and Tom Williams, executive VP of operations and HR, to manage the business.

Profitero, a leading global provider of online insights and e-commerce intelligence for retailers and brands, has appointed Raj Khathuria as VP of sales for North America.

Khathuria has more than 17 years of sales management experience. He previously led the North American sales operation for MarkMonitor, a global leader in online brand protection (acquired by Thomson Reuters in 2012), where he was responsible for growth in key vertical markets including consumer goods, luxury apparel and electronics.

Deerfield, Ill. - Walgreens is expanding its healthcare clinic retail locations with entry into the Dallas-Fort Worth market. The company plans to bring 13 healthcare clinics at select Walgreens locations to the Dallas Metroplex by the end of 2014.

San Antonio – Motor fuel and convenience store operator CST Brands Inc. reported net income of $32 million in the second quarter of fiscal 2014, down 22% from $41 million in the second quarter of the prior fiscal year. Until May 1, 2013, CST was still a wholly owned subsidiary of Valero and, as such, second quarter 2013 results do not include all of the expenses associated with being a public company.

A new partnership with Hendrick Motorsports has 3M off to the races. The company has signed a three-year contract to become the primary sponsor of NASCASR driver Jeff Gordon’s No. 24 car, starting in 2015.
 
The brand will use its sponsorship — which includes 11 Sprint Cup races every year — in product launches and promotions.
 

Woonsocket, R.I. – CVS/pharmacy launched its entrance into the Seattle market with the grand opening of a new location in the city of Renton, the first CVS/pharmacy in the state of Washington. In addition to the new store in Renton, the company will open two more Seattle-area stores in 2014 and will open its first store in the city of Seattle next summer.

With its entrance into Seattle, CVS/pharmacy now has a presence in all 20 top drugstore markets in the U.S. The Renton store is one of the first tobacco-free CVS locations in the U.S.

Outdoor equipment and apparel company Black Diamond named former Sony and Gap executive Zeena Freeman as president and eventual CEO.

The Salt Lake City-based manufacturer of outdoor performance equipment and apparel said Freeman would join the company as president, reporting to co-founder and CEO Peter Metcalf, who she will succeed in that role next June.

Farmingdale, N.Y. - Ferrandino & Son Inc., a provider of exterior maintenance, facility services, HVAC, lighting and electrical services, painting and general contracting, has hired Tom Panek as VP operations. Panek will be responsible for the day to day operations across all of Ferrandino & Son programs.