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Starbucks in settlement on overtime pay
Seattle -- Starbucks Corp. agreed to pay nearly $1.6 million to cafe managers and their lawyers to settle a dispute concerning overtime pay, the Associated Press reported.
The lawsuit was filed in 2009 in U.S. District Court in South Florida by a former Starbucks employee and covered roughly 550 managers.
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Macy’s executive moving to CVS
New York City -- CVS Caremark announced that Mark Cosby has been appointed president of CVS/pharmacy, effective Oct. 1. He formerly served as president of stores for Macy’s.
“We’re delighted that Mark is joining our team,” Larry Merlo, CEO of CVS Caremark (NYSE: CVS) said in a news release. “His valuable experience at major retailers in operations and strategic planning makes him an excellent choice to lead our retail business going forward.”