AutoZone Promotes Three Execs
Memphis, Tenn., AutoZone Inc. promoted Bob Olsen to executive VP of supply chain, IT, Mexico and store development. He was previously senior VP of Mexico and store development.
Also promoted at AutoZone is Harry Goldsmith, now executive VP, general counsel and secretary. He was formerly senior VP, general counsel and secretary. Additionally, Tim Briggs was promoted to senior VP of human resources from VP of human resources.
Charges Push Office Depot to 3Q Loss
Delray Beach, Fla., Office Depot Inc. reported a loss of $47.9 million in the third quarter, as compared to an $89.3 million profit in the year-ago period. The retailer attributed the downturn to asset-impairment costs, exit costs and options expensing. Without these, the retailer’s earnings were $115 million in the quarter. Revenues increased 5% to $3.49 billion in the quarter.
Whole Foods Creates Foundation for Third-World Entrepreneurs
Austin, Texas, Whole Foods Market announced the establishment of the Whole Planet Foundation, an independent non-profit that will fund collateral-free micro-loans as small as $100 to female entrepreneurs in developing countries where the company sources product.
“As we’ve done business around the world, we have increasingly felt the responsibility to help those communities where we’re trading,” said John Mackey, chairman and CEO, Whole Foods, in a release.
Women were chosen specifically to receive the loans, Whole Foods explained in a release, because they statistically have the greatest impact on Third World countries when given access to money for starting businesses.