Content about Corporations law

April 9, 2014

Guess? has appointed Joseph Gromek to its board, increasing the number of directors to seven and bringing the total number of independent directors to five. Gromek will also serve on the compensation and nominating and governance committees of the board.

Guess? has appointed Joseph Gromek to its board, increasing the number of directors to seven and bringing the total number of independent directors to five. Gromek will also serve on the compensation and nominating and governance committees of the board.

November 19, 2013

RadioShack has announced the retirement of Thomas G. Plaskett from the company's board of directors. Plaskett had served on the RadioShack board since 1986, and was a member of the audit and compliance committee as well as the corporate governance committee.

RadioShack has announced the retirement of Thomas G. Plaskett from the company's board of directors. Plaskett had served on the RadioShack board since 1986, and was a member of the audit and compliance committee as well as the corporate governance committee.

His retirement is effective immediately, and the company intends to begin a search for a new independent director to fill his board seat.

October 31, 2013

Restoration Hardware has appointed Katie Mitic to its board of directors. Mitic, who will also serve on the board’s audit committee, has nearly 20 years of strategic product, marketing and business development experience.

Restoration Hardware has appointed Katie Mitic to its board of directors. Mitic, who will also serve on the board’s audit committee, has nearly 20 years of strategic product, marketing and business development experience.

“We are thrilled to have Katie join RH’s board. Her entrepreneurial mindset and digital expertise will be invaluable as we continue to evolve and enhance the ways in which we connect with our customers,” said Gary Friedman, chairman, creator, curator, and co-CEO.

September 4, 2013

JoS. A. Bank have appointed Byron "Bud" Bergren to the company’s board of directors. Bergren will also serve on the audit committee.

HAMPSTEAD, Md. — JoS. A. Bank has appointed Byron "Bud" Bergren to the company’s board of directors. Bergren will also serve on the audit committee.

Bergren was formerly chairman of the board at Bon-Ton Stores from February 2012 to June 2013. From 2002 to 2011, he served as president and CEO of Bon-Ton, where he led the company's acquisition of Saks Northern Department Store Group. Bergren received a B.S. degree from St. Cloud State University. He served on the board of directors of the National Retail Federation from 2008 to 2012.

August 26, 2013

Big Lots has reappointed Russell Solt to its board of directors after determining that the move is in the best interests of the company and its shareholders.

COLUMBUS, Ohio — Big Lots has reappointed Russell Solt to its board of directors after determining that the move is in the best interests of the company and its shareholders. 

Solt will also continue to serve as chairman of the compensation committee, which is composed entirely of independent non-executive directors. Consistent with the terms of the company's other directors, Solt's term will run until the 2014 annual meeting of shareholders.

August 6, 2013

Buoyed by strong sales and growing profitability, leading footwear retailer DSW Inc., preannounced second quarter sales and plans for a 2-for-1 stock split in advance of the release of second quarter results on August 27.

Buoyed by strong sales and growing profitability, leading footwear retailer DSW Inc., preannounced second quarter sales and plans for a 2-for-1 stock split in advance of the release of second quarter results on August 27.

DSW’s sales for the second quarter ended August 3, increased 9% to $558 million from $512 million and same store sales increased 4.3% on top of a prior year gain of 4.2%. Those results prompted the operator of 377 stores to increase its full year profit forecast to a range of $3.60 to $3.80 per share from the previous range of $3.40 to $3.60 per share.

July 2, 2013

La-Z-Boy has nominated Michael T. Lawton to serve a one-year term on the company's board of directors. La-Z-Boy shareholders will get to vote at the annual meeting, Aug. 21.

MONROE, Mich. — La-Z-Boy has nominated Michael T. Lawton to serve a one-year term on the company's board of directors. La-Z-Boy shareholders will get to vote at the annual meeting, Aug. 21.

June 28, 2013

Kid Brands' board is going to see some changes, following Hugh Rovit's announcement that he will not be seeking re-election as a director at the company's annual shareholders meeting.

EAST RUTHERFORD, N.J. — Kid Brands' board is going to see some changes, following Hugh Rovit's announcement that he will not be seeking re-election as a director at the company's annual shareholders meeting.

June 13, 2013

The entire Walmart board was re-elected last Friday at the company’s shareholders meeting, but a substantial number of negative votes indicate some investors are not happy with long-time board members and key senior leaders.

The entire Walmart board was re-elected last Friday at the company’s shareholders meeting, but a substantial number of negative votes indicate some investors are not happy with long-time board members and key senior leaders.

June 7, 2013

Walmart’s board of directors has given the company the green light to repurchase $15 billion of its shares, effective June 6, the company announced at its annual shareholders meeting.

BENTONVILLE, Ark. — Walmart’s board of directors has given the company the green light to repurchase $15 billion of its shares, effective June 6, the company announced at its annual shareholders meeting. 

This program replaces the previous $15 billion program announced on June 3, 2011. As of June 6, the company had approximately $712 million remaining on the 2011 Authorization. Under the share repurchase program, repurchased shares are constructively retired and returned to unissued status.

May 6, 2013

The Jones Group Inc. has nominated chairman and CEO of Barington Capital Group James A. Mitarotonda to stand for election to the board of directors at the company's 2013 annual meeting of stockholders.

NEW YORK — The Jones Group Inc. has nominated chairman and CEO of Barington Capital Group James A. Mitarotonda to stand for election to the board of directors at the company's 2013 annual meeting of stockholders. 

With the addition of Mitarotonda, the Jones board of directors will expand to 11 members, 8 of whom are independent, 10 of whom are non-management and all of whom are annually elected.  

December 17, 2012

February 2013 promises to be an interesting month at Best Buy following the retailer’s decision to extend the timeframe for company founder and former chairman Richard Schulze to submit a potential buyout offer.

February 2013 promises to be an interesting month at Best Buy following the retailer’s decision to extend the timeframe for company founder and former chairman Richard Schulze to submit a potential buyout offer.

Schulze will have the entire month of February to present an offer and then the board will review the offer within 30 days to determine if it is in the best interests of shareholders.

December 5, 2012

Dollar General has elected Sandy Cochran, president and CEO of Cracker Barrel Old Country Store, to its board of directors, effective December 5.

GOODLETTSVILLE, Tenn. — Dollar General has elected Sandy Cochran, president and CEO of Cracker Barrel Old Country Store, to its board of directors, effective December 5.

“We are excited to add Sandy to the Dollar General board of directors,” said Rick Dreiling, Dollar General’s chairman and CEO. “Sandy’s extensive experience and perspective will provide us with valuable insights as we continue to grow our business. Her expertise will complement our board as we strive to build shareholder value.”

October 5, 2012

Wet Seal, just days after encouraging its shareholders to reject efforts by Clinton Group to replace its board of directors, reached an agreement with Clinton Group giving them four spots on its board of directors.

FOOTHILL RANCH, Calif. — Wet Seal, just days after encouraging its shareholders to reject efforts by Clinton Group to replace its board of directors, reached an agreement with Clinton Group giving them four spots on its board of directors.

As part of the settlement agreement, Clinton Group, which beneficially owns approximately 6.9% of Wet Seal common stock, has terminated its consent solicitation. In addition, Jonathan Duskin, Sidney Horn, Hal Kahn and Henry Winterstern have resigned from the board of directors.

May 14, 2012

A new era is emerging at Best Buy as the company tries to come back from the fallout over disgraced former CEO Brian Dunn and re-establish itself is the dominant player in the CE space.

MINNEAPOLIS — A new era is emerging at Best Buy as the company tries to come back from the fallout over disgraced former CEO Brian Dunn and re-establish itself is the dominant player in the CE space. To that end, the company's board of directors has elected Hatim Tyabji to succeed Richard Schulze as chairman of the company, effective at the conclusion of the annual meeting on June 21. Tyabji, currently chairman of the audit committee, has served as a director of Best Buy since 1998.

May 3, 2012

It’s looking like Walmart’s upcoming annual meeting is going to be a bittersweet affair as the company observes its 50th anniversary against the backdrop of an unfolding Mexican bribery scandal and an appeal from a major shareholder this week urging a no vote on five board members.

NEW YORK — It’s looking like Walmart’s upcoming annual meeting is going to be a bittersweet affair as the company observes its 50th anniversary against the backdrop of an unfolding Mexican bribery scandal and an appeal from a major shareholder this week urging a no vote on five board members.

February 27, 2012

Office Depot, Staples and Target were among the companies honored as America's Top Corporations for Women's Business Enterprises.

Office Depot, Staples and Target were among the companies honored as America's Top Corporations for Women's Business Enterprises. Produced by the Women's Business Enterprise National Council (WBENC), this award recognizes corporations for world class programs that level the playing field for women's business enterprises (WBEs) to compete for corporate business, according to the council. 

Other companies honored include:

  • Accenture

  • Alcatel-Lucent

  • Avis Budget Group

January 27, 2012

Lowe’s has announced that Richard Dreiling has joined its board of directors.

MOORESVILLE, N.C. — Lowe’s has announced that Richard Dreiling has joined its board of directors. He will serve on the board’s audit and governance committees. The announcement brings Lowe’s board of directors to 12 members, 11 of whom are independent.

August 1, 2011

The end of Borders as we know it may be drawing near.

NEW YORK  — The end of Borders as we know it may be drawing near. According to court papers filed with the U.S. Bankruptcy Court in Manhattan, Borders Group is planning to auction off its intellectual property, including the Borders brand name and the Borders.com website, in a move that will enable the brand to live on after liquidation in a limited fashion.

The Sept. 14 auction, which will sell off the logo, trademarks, website, customer lists and other intellectual property, is expected to draw millions of dollars worth of offers.

June 9, 2011

Whole Foods Market announced the addition of Blake W. Nordstrom to the company's board of directors, increasing the size of the board to 12 members. He will serve on the audit committee.

AUSTIN, Texas -- Whole Foods Market announced the addition of Blake W. Nordstrom to the company's board of directors, increasing the size of the board to 12 members. He will serve on the audit committee.

Nordstrom, 50, has been president of Nordstrom since 2000 and has served as a member of the company's board of directors since 2005. 

June 3, 2011

Customer service, glue traps and corporate democracy were among the issues on the table at a wide-ranging Home Depot annual shareholders meeting in Atlanta Thursday.

ATLANTA — Customer service, glue traps and corporate democracy were among the issues on the table at a wide-ranging Home Depot annual shareholders meeting in Atlanta Thursday.

 Home Depot’s shareholders approved the company's recommendations for its board of directors and executive pay structure. And it defeated a shareholder proposal regarding shareholder control of corporate political gifts.

April 21, 2011

It has become something of a tradition at Walmart’s annual meeting that shareholders are asked to consider a number of proposals, which the board of directors typically recommends shareholders reject. It appears likely that will be the case again this year when the shareholders’ meeting is held on June 3 and five proposals are on the ballot.

It has become something of a tradition at Walmart’s annual meeting that shareholders are asked to consider a number of proposals, which the board of directors typically recommends shareholders reject. It appears likely that will be the case again this year when the shareholders’ meeting is held on June 3 and five proposals are on the ballot.

March 30, 2011

STEVENSON, Md. — The law firm of Brower Piven on Tuesday announced that a class action lawsuit has commenced in the Delaware Chancery Court on behalf of all shareholders of Drugstore.com, alleging violations of state law by the company’s board of directors relating to the proposed acquisition by Walgreens.

The complaint alleged that Drugstore.com's board of directors breached their fiduciary duties by failing to maximize shareholder value, among other things.

March 14, 2011

A Manhattan bankruptcy judge on Thursday has cleared the path for Blockbuster to sell itself to a group of hedge funds, preventing the movie rental chain from having to liquidate its assets.

NEW YORK -- A Manhattan bankruptcy judge on Thursday has cleared the path for Blockbuster to sell itself to a group of hedge funds, preventing the movie rental chain from having to liquidate its assets.

Judge Burton R. Lifland has approved procedures for the auction of Blockbuster, with a $290 million initial offer from a group of senior bondholders led by hedge fund Monarch Alternative Capital. 

September 20, 2010

Trans World Entertainment announced that Michael Nahl has been appointed to the company's board of...