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Steinhafel out, Target seeks new CEO
The search is under way for a new CEO at Target following the revelation Monday morning that Gregg Steinhafel was no longer chairman president and CEO effective immediately.
On an interim basis, Target CFO John Mulligan will serve as president and CEO and current board member Roxanne S. Austin will serve as non-executive board chair. To advise the board on its search for a new CEO the firm of Korn Ferry was retained.
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Staples to acquire PNI Digital Media
Staples is in the process of acquiring PNI Digital Media, a leading innovator in digital media solutions for retailers, for CDN$1.70 per share, representing a net equity value of approximately CDN$73.9 million.
The purchase share price represents a premium of 31.8% over the closing price of CDN$1.29 of the PNI shares May 2 on the Toronto Stock Exchange and a premium of 28.9% over the 30 day volume weighted average price of the PNI shares on the TSX for the period ended May 2.
female runner in global marketing and advertising campaigns.