OPERATIONS

Big Lots board joins NACD

BY Dan Berthiaume

Columbus, Ohio – Big Lots, Inc. has joined the National Association of Corporate Directors (NACD) as full board members.

"We are honored to join the distinguished and diverse group of directors who comprise NACD’s full board members," said Philip E. Mallott, chairman of the board at Big Lots. "The resources, insights, and connections NACD offers will be valuable assets to our company as we continue to strengthen our corporate governance practices."

NACD full board member companies range in size from large-cap to small-cap companies. Through their membership, these companies share and gain insights about current and emerging issues and take part in NACD’s director education programs.

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News

Big Lots joins big board

BY CSA STAFF

Big Lots has joined the National Association of Corporate Directors (NACD) as full board members.

NACD full board member companies range in size from large-cap to small-cap companies. Through their membership, these companies become part of a diverse director community and have the opportunity to share and gain insights about current and emerging issues and to take part in NACD’s director education programs.

"By joining NACD, Big Lots’ board of directors shows a commitment to high standards in boardroom leadership, as well as increasing investor confidence in their professionalism," said Ken Daly, president and CEO of NACD. "Big Lots is poised to enhance the skills of its directors and to prepare the boardroom for the future."

"We are honored to join the distinguished and diverse group of directors who comprise NACD’s full board members," said Philip E. Mallott, chairman of the board at Big Lots. "The resources, insights and connections NACD offers will be valuable assets to our Company as we continue to strengthen our corporate governance practices."

Big Lots is a broadline closeout retailer which operates 1,514 Big Lots stores in the 48 contiguous United States, 3 Big Lots stores in Canada and 76 Liquidation World and LW stores in Canada. Wholesale operations are conducted through Big Lots Wholesale, Consolidated International, and Wisconsin Toy and with online sales at www.biglotswholesale.com.

The National Association of Corporate Directors has more than 13,000 members which represent public, private and nonprofit boards. NACD provides director education, director training and proprietary research about leading boardroom and corporate governance practices to promote director professionalism and bolster investor confidence. Additionally, NACD provides independent board evaluations and custom-tailored in-boardroom education and training programs, as well as director-led conferences, forums and peer-exchange learning opportunities to share ideas about current and emerging issues.

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FINANCE

Report: Rite Aid pays $12.3M in environmental suit

BY Dan Berthiaume

East Pennsboro Township, Pa. – Rite Aid has reportedly been ordered to pay $12.3 million in a civil lawsuit accusing the retailer of illegally dumping hazardous waste from more than 600 stores in California. According to the Los Angeles Times, San Joaquin County Superior Court Judge Linda L. Lofthus handed down the ruling in a suit brought against Rite Aid by the district attorneys of San Joaquin, Los Angeles and Riverside counties.

Rite Aid was reportedly cooperative throughout the case. In addition to paying monetary penalties, Rite Aid is also now required to segregate hazardous waste in separate containers, dispose of it with state-registered waste haulers, and track hazardous waste with a computerized scanning system.

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