News

HAMILTON, Bermuda — Bacardi Limited has named Andy Gibson chief marketing officer of Bacardi and president of Bacardi Global Brands.

In these roles, Gibson will be responsible for the overall leadership and strategic direction of the company’s internationally known portfolio of premium spirits brands. He also will serve as a member of the Bacardi Leadership Team and report to Bacardi Limited president and CEO Ed Shirley. Gibson joins Bacardi in late April and will be based at the Bacardi Global Brands headquarters in London.

Foothills Ranch, Calif. -- The Wet Seal Inc. on Friday announced that its COO is resigning as the struggling retailer initiates a corporate workforce reduction as part of a broader cost-saving initiative. In other moves, it will shutter two poor-performing Arden B stores.

The struggling chain, which also authorized a $25 million stock buyback program, said president and COO Ken Seipel resigned effective immediately. His position will not be filled. Instead, Seipel's duties will be shared between CEO John Goodman and CFO Steve Benrubi.

North Bergen, N.J. -- The Vitamin Shoppe said Monday it was notified by the FTC that it has been cleared to acquire Super Supplements, with a targeted closing date of Feb. 15.

In December, the vitamin retailer had announced it would purchase the assets of Super Supplements, a specialty retailer of vitamin, mineral and supplements, for $50 million.  

Super Supplements operates 31 stores in Washington, Oregon and Idaho, and expands Vitamin Shoppe's presence in the Pacific Northwest where it currently operates 17 stores.  

PLEASANTON, Calif. — Safeway on Monday announced the appointment of Peter Bocian as its new executive vice president and CFO. Bocian, 58, will oversee the company's financial functions including accounting, tax, audit, treasury, investor relations, planning and business development. He will report directly to Robert Edwards, Safeway's president, and will assume his new responsibilities on Feb. 19.

NEW YORK — The Jones Group Inc. has appointed Joseph Stafiniak to the newly created position of SVP merchandising of Nine West, effective immediately. In this role, Stafiniak will operate as the lead merchant for Nine West overseeing merchandising strategies and the execution of product to meet the expanding needs of the brand's global business. He will report to Kathy Nedorostek, group president of global footwear and accessories.

Rite Aid on Thursday announced the appointment of Yong Choe as VP federal affairs and public policy.

Choe previously served as director of business outreach and member services for the Republican Study Committee, chaired by Rep. Jim Jordan of Ohio, and worked in various roles in the government affairs division of the National Association of Chain Drug Stores between 2003 and 2010. In his new position, he will report to EVP pharmacy Robert Thompson.

EL SEGUNDO, Calif. — Mattel reported a fourth-quarter net sales increase of 5% to $2.26 billion from $2.15 billion for the same period last year.

For the fourth quarter, the company reported net income of $306.5 million, or 87 cents per share, compared with last year's fourth quarter net income of $370.6 million, or $1.07 per share. 

Redwood Shores, Calif. -- Oracle Corp. said on Monday it has agreed to buy Acme Packet for $29.25 per share or approximately $1.7 billion, net of Acme Packet’s cash.
 
Acme Packet, which is based in Bedford, Mass., makes networking equipment that allows customers to deliver voice, video and data across Internet networks for tasks such as video conferencing.