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Sports Authority names RadioShack VP as chief marketing officer
Englewood, Col. -- The Sports Authority has appointed Paul M. Okimoto as the company’s new chief marketing officer.
Okimoto previously served as VP of marketing at RadioShack. He also held positions with the Nielsen Company as VP of corporate marketing and AT&T Wireless as head of integrated marketing communications.
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Best Buy abandons European strategy with Carphone Warehouse sale
Minneapolis -- Consumer electronics retailer Best Buy is leaving the European market. The company is selling its stake in a joint European venture with U.K.-based consumer electronics retailer Carphone Warehouse Group PLC for cash and stock worth about $775 million USD.
Best Buy Co. will also pay Carphone 29 million pounds (about $45 million) related to existing agreements that will be terminated when the deal closes. The U.S. retailer also said that it will incur an approximately $200 million asset impairment charge related to the stake sale.