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Sears Reaches $175 Million Settlement With Lampert, Clearing Way to Complete Bankruptcy

Retail TouchPoints

Sears Holdings and its creditors have reached a $175 million settlement agreement with former CEO Eddie Lampert and other investors that will clear the way for the retailer to execute its long-delayed bankruptcy plan. Lampert exited the CEO role when Sears entered bankruptcy in October 2018 and stepped down as Chairman in February 2019.

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In Push for a Turnaround at Kohl’s, Investor Group Nominates Nine Board Directors

Retail TouchPoints

Macellum Advisors GP , Ancora Holdings , Legion Partners Asset Management and 4010 Capital, together with their respective affiliates, are pushing the plan. Some of the complaints included: “Poor retail execution and strategy leading to stagnant sales and declining operating margins.” in 2011 to 6.1%

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BJ’s Wholesale Club Names Interim Leader President and CEO

Retail TouchPoints

Eddy joined BJ’s in 2007 and assumed the role of EVP and CFO in 2011. Eddy also will join BJ’s Board of Directors. Laura Felice — currently SVP and Controller — has been appointed to replace Eddy as CFO. In 2018, he added Chief Administrative Officer to his title.

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Target Names First Chief Growth Officer, Announces Series of C-Level Promotions

Retail TouchPoints

After 15 years with the company, Stephanie Lundquist, Target’s former president of food and beverage, announced her plans to depart the organization earlier this year. Boylan, who joined Target in 2011, has been leading the company’s communications function since 2017. She will remain in an advisory role through spring 2021.

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Dollar General CEO Todd Vasos to retire

Mass Relators

chief executive officer Todd Vasos plans to step down from his position effective November 1, the company announced on Tuesday. He will be succeeded by Jeff Owen, who has served as DG’s chief operating officer since 2019. GOODLETTSVILLE, Tenn. Dollar General Corp. Todd Vasos. Jeffrey Owen.

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Dollar General promotes seven executives

Mass Relators

Mark Banister has been promoted to senior vice president, in-store experience. In this role, Banister will lead the space management, project execution and support, fixtures and supplies, and store planning teams. He joined DG in 2011, most recently serving as senior director of merchandising.

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Hy-Vee promotes three executives

Mass Relators

Marshall’s Hy-Vee career began in 1982 at the Des Moines, Iowa, Save U More, which was a former brand owned and operated by Hy-Vee. He held many retail store operations and management positions within Hy-Vee, and in 2006 he was promoted to assistant vice president, operations, northwestern district. Jay Marshall.