-
Staples chief executive won’t take pay increase; board changes
New York -- Staples chairman and CEO Ron Sargent will not accept a $31,000 base pay raise the board of directors had previously approved as the chain comes off a not-so-great year.
The company announced that Sargent would not accept the 2.5% pay increase, along with several noteworthy governance moves, including the appointment of an independent chair when Sargent retires.
In other board moves, current director and former Toys “R” Us CEO Robert Nakasone is relinquishing his seat to make room for a Google executive.
-
Target’s U.S. business exceeds expectations
Overshadowed by Target’s bombshell announcement to exit Canada, the retailer said U.S. sales – and profits – were much better than expected during the holidays.
The favorable combination of increased traffic and stronger than expected digital sales enabled the company to produce a 3% same store sales increase during November and December versus an earlier forecast which called for 2% growth.