Circuit City Appoints VP for New Business Development
Richmond, Va., Circuit City Stores Tuesday announced that Jeffrey S. Stone has joined the company as executive VP, new business development. His responsibilities will include overseeing the growth of the chain’s new retail concept, The City.
Stone, 51, was most recently president and COO of Tivoli Audio, LLC, a manufacturer of high-end audio devices. Prior to Tivoli, Stone spent 15 years at Tweeter Home Entertainment Group.
Sears’ CEO to Step Down
Chicago Sears Holdings Corp. said Monday that its president and CEO Aylwin B. Lewis would step down at the end of its fiscal year this week, the latest blow for an ailing company that’s struggling to connect with customers and invigorate slumping sales.
Lewis will be succeeded by W. Bruce Johnson, an executive VP of supply chain and operations who will fill the role on an interim basis. The company said Monday that Lewis will also resign from Sears’ board.
“We are entering a new phase in Sears’ evolution as a multichannel retailer, as reflected by the new operational structure we recently announced, and the board has determined that now is the right time to put in place new leadership to take the company forward,” Sears chairman Edward Lampert said in a statement.
Johnson joined Kmart in 2003 as senior VP of supply chain and operations. He was named to the office of the chairman in 2005 and took on store operations in 2006.
DAVACO Names Director of Restaurant Division
DAVACO, Inc. announced recently that Tom Sacco was named director of the company’s restaurant division. He will be responsible for leading the expansion of DAVACO’s restaurant business and oversee the team’s execution of remodel, re-image, new restaurants and special-project programs for national and regional restaurant clients from a variety of foodservice segments, including quick service, casual and fine dining.
Sacco has more than 20 years experience driving growth of restaurant services. He formerly served as VP of sales and business development for MIRUS Restaurant Solutions; VP of operations for Fox Sports Grill; director of Texas operations for BJ’s Restaurant & Brewery; and president of Triangle Foodservice Corp.