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DSW to acquire Retail Ventures
Columbus, Ohio -- DSW said Tuesday that it will acquire its largest shareholder Retail Ventures and turn it into a wholly owned subsidiary, helping to simplify its relationship.
According to the shoe retailer, the two companies signed a merger agreement, under which DSW will give stockholders 0.435 of a DSW share for each share they hold of Retail Ventures.
Retail Venture holds a 62% stake in DSW.
The companies are slated to hold a conference on Wednesday to discuss the deal with investors.
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Lowe’s announces executive moves, promotions
Mooresville, N.C. -- Lowe’s Cos. said Wednesday that it has made several key promotions and moves in its human resources, legal, merchandising, logistics and information technology areas.
Maureen K. Ausura was promoted to executive VP human resources, from senior VP in the same capacity.
Gaither M. Keener has been promoted to executive VP general counsel, secretary and chief compliance officer, from senior VP in the same capacity.
Both will continue reporting to CEO Robert Niblock.