Corporate Governance

SAN BRUNO, Calif. — Wal-Mart Stores has named a replacement for Eduardo Castro-Wright, who announced his pending retirement in September. The company announced that Neil Ashe is the new president and CEO of the company's global e-commerce business, effective Jan. 16. Castro-Wright will assist in the transition.

Ashe is replacing Eduardo Castro-Wright who announced his pending retirement in September and will assist in the transition.

SAN FRANCISCO — In an effort to help the thousands of troops returning home from serving overseas, Banana Republic has announced “Our Duty to You,” a program created to help military personnel prepare for their next professional opportunities. 

NORTHFIELD, Ill. — Realigning U.S. sales, consolidating U.S. management centers and streamlining corporate and business unit organizations are on the to-do list of Kraft Foods as it prepares to spin off its business in two independent public companies before the end of the year.

New York City -- A report by Reuters on Tuesday revealed widespread Wall Street speculation that Sears Holdings Corp. may go private.

"There is a rumor that Bruce Berkowitz of Fairholme and Eddie Lampert could take Sears private," Jon Najarian, a co-founder of TradeMonster.com in Chicago, told Reuters.
 
Sears has not commented on the rumors, which come days after CIT Group halted loans that Sears' suppliers use to finance the goods they sell to the Sears and Kmart chains.

Pasadena, Calif. -- The Disney Store announced Tuesday that it will open new stores with its new design in Japan, China, Italy, North America and Canada by the end of 2012. According to the company, the store opening slate includes an inaugural location in Shanghai, China opening in the fall, making it the 12th country to receive the interactive retail model.

Thirteen new and remodeled Disney Store locations are scheduled to open in North America in 2012, include state concept debuts in Colorado, Connecticut, Delaware, Utah and Virginia.

San Francisco -- A Tuesday report by Reuters said that Wal-Mart filed a motion on Monday to dismiss a lawsuit filed last October by a regrouping of women whose earlier gender bias class action was ended by the U.S. Supreme Court.

Bentonville, Ark. -- Wal-Mart Stores announced that Neil Ashe, 44, is the new president and CEO of the company's global e-commerce business, effective Jan. 16.

Ashe was most recently president of CBS Interactive, where he led all online properties and also drove development of new ways to distribute programming produced by the media giant and its subsidiaries.

Ashe is replacing Eduardo Castro-Wright, who announced his retirement in September and will assist in the transition.

Minneapolis -- Best Buy announced that Shari Ballard and Mike Vitelli, who had both been president of Best Buy's domestic business, will take on separate jobs, effective immediately. The retailer, which posted disappointing holiday results, said it was undertaking the changes to accelerate its strategy by aligning the company's senior operating talent with its highest priorities.

Armonk, N.Y. -- IBM announced that Abercrombie & Fitch Co. is working with IBM software to help the company transform its online business to achieve greater speed and efficiency. The initiative is part of Abercombie's strategic goal to expand its direct-to-consumer capabilities and drive its e-commerce business to $1 billion.

Atlanta -- Aaron's announced that Jeannie M. Cave has been hired as the company's new VP real estate and construction. She will be responsible for a number of activities including the development of strategies that support Aaron's real estate goals and the management of the company's real estate portfolio for both company-operated and franchised stores.

Cave brings 10 years of leadership experience from Cox Enterprises.