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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.
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Billing plans lift Best Buy sales 3.4%
Solid sales of televisions and mobile phones in stores and online drove better than expected top line growth at Best Buy during the holidays with details on profitability yet to come.
The company said same-store sales grew 3.4% in the United States over the holidays (Nov.-Dec.) as it sold more large-screen TVs and mobile phones.
