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July 31, 2014

TOP STORY

Target hires Brian Cornell as CEO

Brian Cornell

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.

 

RETAIL NEWS BREAKS

Dollar Tree to acquire Family Dollar for $8.5 billion

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 taps Roundy's exec as new CFO

Rite Aid Corp. has named a new chief financial officer to succeed Frank Vitrano, who plans to retire next year.

Crawford to retire as Walgreens pharmacy president

Kermit Crawford, president of pharmacy, health and wellness at Walgreen Co., plans to retire at the end of the year to pursue new opportunities.

Foran to lead Walmart U.S.

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.

Loblaw to sell some stores to Coutu and Metro

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.

Philip Clarke to depart as Tesco’s CEO

Tesco PLC is replacing Philip Clarke after three years at the helm of the United Kingdom’s largest supermarket chain, following another profit warning.

Weston succeeds Trius as Loblaw president

Loblaw Cos. said Galen Weston, scion of the Weston family that controls the company, has assumed another management position at the retailer.

More Retail News Breaks >>

SUPPLIER NEWS BREAKS

Pharmavite promotes Toll to CEO

Timothy Toll has been appointed chief executive officer at Pharmavite LLC.

Crossmark facility links Walmart and suppliers

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 to sell Slim-Fast brand

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 announces new organizational structure

Coty Inc. has revamped its organization to create a more integrated, consumer-focused business model.

GMDC honors Energizer's Martire

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 to purchase Merck's consumer health business

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 invests in sustainable energy

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.

More Supplier News Breaks >>
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