Barnes & Noble nominates 2 new board members
New York City Barnes & Noble said Thursday it will nominate two new directors for election at its annual shareholder meeting, as it preps for a proxy fight with shareholder Ron Burkle.
Three directors are up for re-election, including Chairman Leonard Riggio.
Barnes & Noble nominated David Golden II, 52, a partner at private investment company Revolution LLC and a former longtime JPMorgan executive, as well as David Wilson, 69, CEO of a non profit that administers the Graduate Management Admission Test.
They would replace Michael Del Giudice, an investment banker; and Lawrence S. Zilavy, a former Barnes & Noble CFO.
William Dillard II, chair of the board’s corporate governance and nominating committee, said the nominees’ experience is “ideally suited for our board at this critical juncture.”
The board change comes after Burkle, who owns 19% of Barnes & Noble’s outstanding shares, unsuccessfully sued Barnes & Noble in a bid to expand his stake even more. Barnes & Noble put into place a shareholder rights plan that limits a company stake to 20%.
Burkle’s Yucaipa Cos. said it will nominate Burkle; Stephen F. Bollenbach, chairman of KB Home, and Michael S. McQuary, CEO of Wheego Electric Cars and a partner in an Atlanta investment firm.
A&P names former OfficeMax exec to senior operations role
Montvale, N.J. The Great Atlantic & Pacific Tea Co. said Wednesday it has appointed Paul Hertz to the role of executive VP operations.
Hertz succeeds Mark Kramer, who left the company to pursue other interests.
Prior to joining A&P, Hertz was executive VP of retail stores for OfficeMax.
“An important part of our turnaround is building a dynamic executive management team with the skills and expertise necessary to lead our company to excellence,” said Christian Haub, executive chairman, The Great Atlantic & Pacific Tea Co.
Earlier this month, A&P announced it had hired OfficeMax COO Sam Martin as its new president and CEO.
Finish Line puts merchandising chief in dual role as president
Indianapolis Finish Line said Tuesday it named chief merchandising officer Samuel M. Sato to the additional role of president of the athletic goods retailer.
Sato has been with the company since 2007, coming from a 22-year career with Nordstrom.
In his new position, Sato will add responsibility for Finish Line’s online business to his merchandising and marketing duties. Don Courtney, who has led the online division since August 2009, will continue to serve as its president.
The company said president and COO Steve Schneider will continue in his current roles, overseeing store operations, real estate and information systems.
“As I take on the role of chairman in addition to my duties as CEO, I’ll focus on our company’s long-term growth, while Steve and Sam will work together at the helm of our day-to-day operations, driving our business and focusing on the continued evolution of our premium brand,” said CEO Glenn Lyon.
The company also named Steven Schreibman as VP and chief marketing officer, responsible for leading all branding and marketing initiatives.