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Wal-Mart replaces departed China COO, CFO
Shanghai — Wal-Mart Stores Inc. announced it has appointed its current Canada finance chief Sean Clarke as COO over the company’s China operations, after former CFO Roland Lawrence and COO Rob Cissell left the company in May.
According to a report by Bloomberg, Clarke will be joined by Steve Smith, named chief marketing officer in China. Smith was senior VP at Delhaize Group.
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Borders moves closer to liquidation as bankruptcy court judge okays Borders auction
New York — Borders Group moved closer to liquidation after a judge on Thursday approved its motion to auction itself off with an offer from liquidators as its opening bid. The retailer said it will accept bids until 5 p.m. Sunday and will give notice by Monday if no other bidder emerges.