Corporate Governance

CIT Group Inc., a leading provider of financing and advisory services to small businesses and middle market companies, has appointed Randall Chesler as president of CIT Bank, its U.S. commercial bank subsidiary.

He will be based in Salt Lake City, Utah, and report to CIT Bank’s board of directors. Chesler is currently vice chairman of CIT Bank and previously served as president of consumer finance and small business lending at CIT. He succeeds John Taylor who is leaving the company to pursue other opportunities and will assist in the transition.

Back-to-school shoppers get a free three day pass at Sam’s Club beginning August 2, as part of an initiative to increase membership at the warehouse club.

Sam’s is inviting shoppers to visit its more than 600 clubs beginning Friday, August 2, without paying any type of membership fee or non-member surcharge. The retailer has conducted similar open house events in the past as a means to expose shoppers to the Sam’s Club experience and hopefully convert a meaningful number to dues-paying members, at either the $45 base membership level or $100 Plus member level.

ATLANTA — PepsiCo and Feed the Children have teamed up with Compassion Atlanta and Walmart to distribute two tractor trailers full of food and essentials to 800 Atlanta-area children and families in need.  

Driven by strength in its baby and parenting and tools business units, Newell-Rubbermaid grew second quarter sales 3.5% to $1.47 billion, but profits fell slightly to $109.8 million, or 37 cents a share, compared with $111.8 million, or 38 cents a share, the prior year.

Earnings per share surged to 50 cents a share if restructuring and restructuring related costs and discontinued operations are removed from the profit picture.

The state of gender equality among senior executive and in boardrooms is abysmal and “leaning in” isn’t enough to fix it, HSN CEO Mindy Grossman told a group of 300 retail and CPG executives recently.

Grossman was a featured speaker at the annual Network of Executive Women (NEW) Executive Leaders Forum in Rancho Palos Verdes, Calif., last week. According to Grossman, woman “can lean in for the next 30 years and it will not be enough unless we hold boards and CEOs accountable."

Alameda, Calif. -- MBH Architects has appointed Klas Eklof and Oliver Mellows as principals for the 170-person firm.

Eklof and Mellows, each both employees of MBH for more than a decade, are looking forward to expanding their leadership roles during a time of exciting growth with increasing portfolios and branded projects, expanding opportunities for the firm.

MBH specializes in retail, residential, hospitality, mixed-use, workspace, and healthcare architecture and design. Their portfolio includes many well-known global clients and projects. 

Warren, Mich. -- Art Van Furniture plans to convert 31 Mattress World locations in Michigan and Indianapolis to its signature Art Van PureSleep brand, which is known its diagnostic system that determines the exact mattress and pillow best suited for each individual's comfort. 

The conversion, which will begin August 1st, will be completed by the end of 2013, and will result in a total of 76 Art Van PureSleep stores.

Pittsburgh -- GNC Holdings Inc.'s second-quarter net income rose nearly 8% amid strong sales. 

During the three months that ended June 30, GNC's income rose to $71.7 million, from $66.7 in the year-ago period. Its results beat expectations. 

Revenue increased 9.2% to $676.3 million from $619.1 million a year ago. Same-store sales rose 6.8% at company-owned stores and 5.2% at franchise locations.

Canton, Mass. -- Dunkin’ Donuts announced  that it has signed its first Southern California multi-unit store development agreements,  with four franchise groups for a total commitment of 45 locations. 

The first restaurants are expected to open in 2015 in Orange and Los Angeles counties. Some non-traditional Dunkin' Donuts locations may open over the next several months. 

New York -- Five individuals have been charged with running a sophisticated, worldwide hacking organization that the U.S. Department of Justice called the largest hacking and data breach scheme ever prosecuted in the United States. The victims in the scheme included such retailers as J.C. Penney, 7-Eleven Inc., Carrefour and Hannaford Brothers Co.