July 31, 2014
For the first time in its history Target Corp. has appointed a chief executive officer from outside the company, naming Brian Cornell, former president and CEO of Sam’s Club and most recently CEO of PepsiCo Americas Foods, the largest of PepsiCo Inc.’s four divisions.
He will also hold the position of chairman of Target’s board.
The discount store operator’s chief financial officer, John Mulligan, had served as interim CEO since Gregg Steinhafel stepped down as chairman, president and CEO in May.
Cornell, 55, brings an impressive record compiled over 30 years at some of the world’s leading retail and consumer products companies.
Dollar Tree Inc. and Family Dollar Stores Inc. have entered into a definitive merger agreement under which Dollar Tree will acquire Family Dollar for cash and stock valued at approximately $8.5 billion.
Rite Aid Corp. has named a new chief financial officer to succeed Frank Vitrano, who plans to retire next year.
Kermit Crawford, president of pharmacy, health and wellness at Walgreen Co., plans to retire at the end of the year to pursue new opportunities.
A change at the top of Walmart U.S. is under way. Thursday morning Walmart announced that Greg Foran has been promoted to president and chief executive officer of its domestic operations. Foran succeeds Bill Simon, who will be leaving the company.
In line with regulatory approval of its acquisition of Shoppers Drug Mart Corp., Loblaw Cos. plans to sell two Shoppers Drug Mart drug stores to Jean Coutu Group and two No Frills supermarkets to Metro Inc.
Tesco PLC is replacing Philip Clarke after three years at the helm of the United Kingdom’s largest supermarket chain, following another profit warning.
Loblaw Cos. said Galen Weston, scion of the Weston family that controls the company, has assumed another management position at the retailer.
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Timothy Toll has been appointed chief executive officer at Pharmavite LLC.
More than 150 Walmart officials mingled with representatives from key suppliers at the July 10 grand opening of a state-of-the-art facility hailed as "a place where Walmart and suppliers can plan the future."
Unilever is selling its Slim-Fast brand to Kainos Capital LLC, a Dallas-based private equity firm focused on acquiring and managing food and consumer brands.
Coty Inc. has revamped its organization to create a more integrated, consumer-focused business model.
The Global Market Development Center presented the GMDC Lifetime Achievement Award this weekend to Lou Martire, vice president of trade development at Energizer Household Products, for his contributions to the industry.
Bayer AG is buying Merck & Co.’s consumer care for $14.2 billion. Under the agreement, Bayer will acquire Merck’s existing over-the-counter medications business, including the global trademark and prescription rights for Claritin and Afrin.
Mars Inc. is partnering with Sumitomo Corp. of America to build a massive wind farm that will generate enough renewable energy credits to offset the energy use of Mars' entire U.S. operations, which involves 70 sites, including 37 factories.
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