Corporate Governance

Fort Worth, Texas – RadioShack Corp. is scaling back its plans to close 1,100 stores. In a regulatory filing with the Securities and Exchange Commission (SEC), the retailer said its lenders are offering unacceptable terms for RadioShack to proceed with that many store closures. However, the company will still shutter a number of locations as part of its turnaround plan.
 

At an event with President Barack Obama, Walmart said that it will double the number of on-site solar energy projects at its U.S. stores, Sam’s Clubs and distribution centers by 2020. The commitment is part of Walmart’s global initiative to drive the production or procurement of 7 billion kWh of renewable energy by the end of 2020.

Woodland Hills, Calif. — NewMark Merrill Companies has announced that Heather Danko and Danielle Bovard have received the Certified Marketing Director designation from the International Council of Shopping Centers.

The CMD designation is awarded for expertise in multiple disciplines including marketing management, research, marketing plan implementation, public and community relations, advertising, and media buying.

Coca-Cola Bottling Co., the nation’s largest independent Coca-Cola bottler, has signed a definitive agreement with The Coca-Cola Company to expand the bottler’s franchise territory to include the Morristown and Johnson City, Tenn., territories currently served by Coca-Cola Refreshments USA, Inc. (CCR), a wholly owned subsidiary of The Coca-Cola Company.

Milford, Ohio — Slate Properties has acquired Mulberry Square in Milford, Ohio, part of the greater Cincinnati metropolitan area. Slate paid $15.6 million for the 146,730-sq.-ft. community center, which is anchored by Kroger, Petco and Planet Fitness. Inline tenants include Steak and Shake, Hallmark, H&R Block, GNC and The UPS Store.

Mid-America Real Estate Corp. in cooperation with NAI Bergman represented the seller, a private real estate investment firm, in the transaction.

McCormick & Company has named Brendan Foley as president of U.S. consumer effective June 2. Foley will lead the largest business unit for McCormick and will report directly to president of global consumer and CAO Lawrence Kurzius.

Walmart has gotten the green light to build its drive-in grocery center in Bentonville, Ark., near the intersection of S. Walton Blvd. and J St., according to an article in The City Wire.

The article reported that Bentonville’s Planning Commission approved Walmart’s request “to approve slight variations in its parking stall depths, number of curb cuts and the building materials . . . with no discussion.”

Interactions, a leading global integrated sales and marketing programs developer, has appointed David Zierman as director of insights.
 
Based in San Diego, Zierman will lead the company’s market research efforts including managing primary data collected via Mystery Shopping, Customer Intercept Surveys, Web Based Surveys, electronic customer satisfaction surveys (bottom of the receipt surveys) and Retail Audits. He will be responsible for the organization’s P&L as well as business development and operations.