Human Resources

Ascena Retail Group began a search for a new CFO after its current EVP and CFO, Dirk Montgomery, resigned this week. As the company reviews potential new CFOs, Ascena board member and audit committee chair Randy Pearce, will have more involvement with the company’s finances.

Montgomery is expected to stay in his position until the fall, when he will move on to a Florida-based healthcare company, where he recently accepted an offer to be closer to his family.

Lowe's plans to build a customer support center in Indianapolis, a move that will create up to 1,000 new jobs by 2016.

Tiffany’s long-standing CEO Michael J. Kowalski will retire from the company March 31, 2015. Kowalski, who has been a member of the company’s board of directors since 1995, will continue to serve as non-executive chairman.

The board has tapped Frederic Cumenal, currently the company’s president, as Kowalski’s successor; he will step up to the CEO role April 1, 2015.

Kowalski joined Tiffany in 1983, became CEO in 1999 and assumed the role of chairman of the board in 2003.

New York - Michael J. Kowalski, CEO of Tiffany and Co., will retire from the company effective March 31, 2015. Kowalski, who has been with Tiffany for 30 years and a member of the company’s board of directors since 1995, will continue to serve on the board in the role of non-executive chairman.

Tiffany has named Frederic Cumenal, currently the company’s president, to succeed Kowalski as CEO effective April 1, 2015. Kowalski, 62, joined Tiffany in 1983, became CEO in 1999 and assumed the role of chairman of the board in 2003.

Many teachers spend some of their own money on back-to-school supplies and to capitalize on the trend Walmart has introduced a 10% rebate program.

Mahwah, N.J. - Dirk Montgomery, executive VP and CFO of Ascena Retail Group Inc. since January 2013, has accepted a position with a healthcare-related company based in Florida. Ascena has initiated a search process for a new CFO.

Montgomery has agreed to remain through the end of the summer. Randy Pearce, a member of Ascena’s board of directors, chair of the Audit Committee, and former CFO of Regis Corp. from 1998 to 2011, will increase his involvement in overseeing the company’s finance department during the transition.

Tewksbury, Mass. – Demoulas Super Markets Inc., parent company of the Market Basket grocery chain, has reportedly fired some employees in the wake of inventory problems during the weekend of July 19-20. According to the Boston Globe, several managers were fired the evening of Sunday, July 20 after the company noticed thinning inventories of perishable items.

Boca Raton, Fla. – Office Depot Inc. has named retail veteran Mark Cosby as president, North America. Cosby, 55, most recently served as president of pharmacy at CVS Caremark. He will be a member of Office Depot’s executive committee and leadership team and report to Roland Smith, chairman and CEO of Office Depot.

Cosby joins Office Depot following a 30-year career at a number of leading retail chains. Prior to CVS, Cosby spent five years at Macy’s Inc., where he served in a number of executive roles, including president, stores.