Dentco names national sales manager
Dewitt, Mich. — Dentco, a leading exterior services management company, has appointed David Arthur to serve as its new national sales manager.
Arthur comes to Dentco with 12 years of sales experience, which includes direct sales, product knowledge, forecasting, and vendor relation proficiency. More recently, Arthur was an architectural sales manager for six years, in which he coordinated sales for commercial jobs, negotiated pricing, and managed marketing efforts.
Safeway adopts ‘poison pill’ to prevent takeover
Pleasanton, Calif. — Safeway Inc. announced that it has adopted a one-year stockholder rights plan, or a “poison pill,” to discourage an unfriendly takeover.
The company adopted the plan after it became aware that unnamed investors had accumulated “a significant amount” of its stock. The investor turned out to be hedge fund company Jana Partners, which disclosed in a filing that it has accumulated a 6.2% stake in the supermarket retailer.
Under the plan, Safeway will distribute one right to purchase preferred stock for every share of common stock owned as of Sept. 30. The rights would flood the market with additional shares if an outside investor accumulates more than 10% of its common stock, Safeway said.
Starbucks promotes CFO Alstead to group president of global biz
Starbucks has promoted CFO and chief administrative officer Troy Alstead to CFO and group president of the company’s global business services.
Alstead’s promotion is a result of his increasing responsibilities as well as an acknowledgment of the complexity of his role overseeing Starbucks global financial, technology and supply chain operations and ensuring that the company’s overall business infrastructure is optimized to support the company’s global growth.
“Under Troy’s leadership as CFO for the past five years, Starbucks has delivered an extraordinary experience to our customers as well as exceptional operating performance, financial results and returns for our shareholders,” said Starbucks chairman, president and CEO Howard Schultz. “Troy’s strategic business and financial acumen, discipline and leadership have been instrumental to our short- and long-term growth. As we continue to expand to new markets and channels, his role as group president leading Starbucks global business services will be critical to ensuring the company’s continued success.”
Alstead joined Starbucks in January 1992 when it was a privately held company with a little more than 100 stores. Through the years, he has held numerous roles in finance and general management for Starbucks, both domestic and international. He has held finance positions of increasing responsibility, including leadership of the corporate finance, accounting, tax and treasury functions, as well as leadership of global financial management, decision support, planning and business development for Starbucks operating units around the world.
Alstead was one of the original members of the Starbucks International team, contributing to the development of the international business from the beginning. Beyond his finance roles, he led the operations and development of the international business as SVP for Starbucks Coffee International, and later led the company’s business in Europe, Middle East and Africa as interim president of that regional business unit. Alstead later held the position of chief operating officer, Starbucks Greater China.