Barnes & Noble signs CEO to new employment pact
New York — Barnes & Noble Inc. signed an employment agreement with CEO William Lynch to remain in his post for another two years, according to a filing with the U.S. Securities and Exchange Commission.
Lynch will receive the same compensation and benefits as before, but get an additional cash bonus of $1.8 million for his role in attracting investments from Microsoft Corp. and Pearson PLC in forming Nook Media LLC, according to a Reuters report.
The agreement follows the news last February that Barnes & Noble chairman Leonard Riggio planned to make an offer for the company’s main retail business, but not its Nook and e-book business. The new agreement provides Barnes & Noble with the right to assign Lynch as chief executive of Nook and the e-book business if the company is separated.
Charming Charlie names CFO
Houston — Charming Charlie announced that Tom Fitzgerald has joined the company as EVP, chief administrative officer and CFO.
Tom most recently was the chief administrative officer of Sears Canada, where he was responsible for store operations, IT, merchandise planning and allocation, logistics, sourcing, and store innovation.
Prior to his role at Sears Canada, Tom held several leadership positions at Liz Claiborne, and Bath & Body Works.
Since launching in 2004, Charming Charlie has grown to over 240 stores in 36 states with more than 5,000 employees.
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GE names ex-SEC head to board
The board of directors of the General Electric Company nominated former Securities and Exchange Commission chairman Mary Schapiro to serve on its board.
Schapiro will stand for election at GE’s annual meeting on April 24, the company said.
"Mary Schapiro will bring valuable expertise to GE, particularly with her experience overseeing U.S. financial markets," said GE chairman and CEO Jeff Immelt. "Her understanding of corporate governance and financial regulation will be of great benefit to GE and its shareowners. I am pleased that we have nominated Mary to our board."
Schapiro served as chairman of the SEC from January 2009 through December 2012. Prior to becoming SEC chairman, Schapiro served as chief executive officer of the Financial Industry Regulatory Authority (FINRA) from 2007 through 2008. She joined FINRA in 1996, serving as president of the National Association of Securities Dealers (NASD) Regulation from 1996 to 2002 and as vice chairman from 2002 to 2006, when she was named chairman.
Schapiro served as a commissioner of the SEC from December 1988 to October 1994, and left the SEC when appointed chairman of the CFTC, where she served until 1996.
Prior to her 2009 SEC appointment, Schapiro also served as a director and chair of the audit committee at Duke Energy, and as lead director and chair of the nominating and governance committee at Kraft Foods.
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