Forest City names Charles Ratner chairman, David LaRue president/CEO
New York City — Forest City Enterprises announced Tuesday that, as part of the company’s succession planning process, current president and CEO Charles A. Ratner will become chairman of the board, and will be succeeded as president and CEO by David J. LaRue, currently executive VP and COO.
The changes will be effective following Forest City’s annual meeting of shareholders on June 10.
Concurrent with the CEO succession, current co-chairmen Albert B. Ratner and Samuel H. Miller will each become co-chairman emeritus and will no longer serve on the board. Both will remain active in their respective areas of the business.
"David LaRue is an experienced and visionary leader with the broad strategic, operational and financial acumen to direct Forest City in the next phase of its growth and evolution," said Ratner, 69.
Ratner noted that LaRue will be the first chief executive in Forest City’s 90-year history, including 50 years as a publicly traded company, who is not related to the founding family.
New CEO takes reins of CVS
Woonsocket, R.I. — CVS Caremark Corp. announced Tuesday that Larry J. Merlo has assumed the role of chief executive. Merlo, now president and CEO of CVS Caremark, succeeds Thomas M. Ryan who will remain non-executive chairman until his retirement at the company’s annual meeting in May.
Merlo, a pharmacist by training with over 30 years in pharmacy health, joined CVS/pharmacy in 1990 through the company’s acquisition of Peoples Drug.
Sam’s Club to carry select GNC products
Pittsburgh — General Nutrition Centers said Tuesday that Sam’s Club will start selling a few of its products this month.
About 400 Sam’s Club locations will start by selling two products, a 2-pound container of GNC Pro Performance whey protein for $18.09 and a 1.7-pound bottle of GNC Total LeanT Lean ShakeT for $22.98. Sam’s Club will rotate other products onto shelves throughout the year.
GNC said it will work with Sam’s Club to develop products specific to Sam’s Club members.