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Amid weak Q4 results, Under Armour loses key exec
In addition to disappointing fourth quarter sales, Under Armour announced that its CFO is stepping down. The company reported that CFO Chip Molloy is leaving the company “due to personal reasons,” and David Bergman, Under Armour’s senior VP, corporate finance, will serve as acting CFO. Molloy will remain with the company in an advisory capacity to assist with the transition, the brand said. -
Office supply giant names tech exec as new CEO
Office Depot has named a successor to CEO Roland Smith, who previously announced his intention to retire from the company. The company also named a new chairman. The retailer has appointed Gerry P. Smith as CEO, effective Feb. 27. Smith currently serves as executive VP and COO of Lenovo Group, a $45 billion global technology company.