Corporate Governance

HOFFMAN ESTATES, Ill. — Select Sears hometown dealer stores and Sears Hardware stores were the latest to hit the chopping block at Sears Holdings, as the company continues to implement plans to reduce expenses. The company revealed in a Wednesday document that it will close 43 Sears hometown dealer stores and 10 Sears Hardware stores over the first half of 2012.

NORTHFIELD, Ill. — Kraft Foods has nominated two candidates to serve on the company's board of directors.

CHICAGO — While consumers will continue to define value based on price, other key trends, including new product development, technology, store layouts and shopping patterns will drive the market in 2012, according to SymphonyIRI research.

In its latest Times & Trends report, "CPG 2011 Year in Review: The Search for Footing in an Evolving Marketplace," SymphonyIRI said that in order to effectively compete in the market, consumer packaged goods manufacturers and retailers should take note of the following predictions:

MENOMONEE FALLS, Wis. — Kohl’s Department Stores was honored with the Environmental Protection Agency’s 2012 Energy Star Award for Sustained Excellence at a ceremony in Washington, D.C. The award recognizes Kohl’s long-term commitment to protecting the environment through energy efficiency initiatives. Kohl’s was recognized by EPA in 2010 and 2011 as an Energy Star Partner of the Year, and in 2011 also became the first retailer to be named an EPA Green Power Partner of the Year for three consecutive years.

Austin, Texas -- Target Corp., Costco Wholesale Corp., Safeway, Gap Inc. and Whole Foods Market are among 15 retailers recognized on the Ethisphere Institute's 2012 "World's Most Ethical Companies" list. The other retailers honored were Starbucks Coffee Co., Patagonia, Wegmans, Marks and Spencer, Best Buy, eBay, Timberland, Office Max, Petco, and Ten Thousand Villages.

New York -- The Kroger Co. appointed Suzanne Lindsay as its first director of sustainability. Prior to Kroger, Lindsay led sustainability initiatives at PetSmart.

“We have made substantial progress in sustainability in the past five years through energy savings, waste reduction, transportation efficiency and by reducing the use of plastic bags,” said Lynn Marmer, group VP, corporate affairs at Kroger. “Suzanne will help us accelerate our progress and identify new opportunities to improve our environmental stewardship.”

New Canaan Conn. -- Gridiron Capital, LLC, in partnership with the founder and existing  management team of Quality Sollutions Inc. announced the acquisition of QSI.

St. Louis -- Panera Bread Co. announced that founder and executive chairman, Ron Shaich, and president and CEO, Bill Moreton, will become co-CEOs, effective immediately.

The announcement formalizes a relationship that has evolved over the last year and is a reflection of the way in which Shaich and Moreton have been operating as partners, the company said.

Each individual's formal title will be as follows: Ron Shaich, chairman of the board and co-CEO; Bill Moreton, president and co-CEO.

New York -- The average gift card dollar volume growth on a year-over-year basis increased 10% during the last six months of 2011, with consumers shopping earlier in the holiday season for prepaid cards and adding more value to their purchases than in 2010, according to a study by First Data Corp.

Norwell, Mass. -- An energy project undertaken for The Stop & Shop Supermarket Co. by Bluestone Energy Services has been recognized as the Best Multi-Site Retail Energy Program in New England by the Association of Energy Engineers New England (AEENE).