C-SUITE

Former Winn-Dixie exec takes helm of specialty grocer

BY Marianne Wilson

The Fresh Market has ended its search for a new chief executive.

The grocer appointed Larry Appel as the company’s president and CEO, effective immediately. Appel brings nearly 30 years of experience in retail, legal and corporate strategy, and most recently served as CEO of Skeeter Snacks. From 2002 to 2012, he served at Winn-Dixie Stores in a variety of senior leadership roles including COO. Prior to that, he was senior VP of legal at The Home Depot.

In June 2017, Fresh Market CEO Richard Anicetti resigned after less than two years on the job. Brian Nicholson, CFO of Fresh Market, was appointed interim CEO. He will remain as CFO.

“Following an extensive search and review of both internal and external candidates, the Board believes that Larry is the best leader for The Fresh Market going forward," stated Andrew Jhawar, chairman, Fresh Market, and senior partner at Apollo Global Management, which acquired the grocer in April 2016. "We look forward to partnering with Larry and are confident in his ability to lead operationally and to execute strategies to ‘win’ with our customers."

Founded in 1982, The Fresh Market operates 176 stores in 24 states across the nation.

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BUSINESS INTELLIGENCE/ANALYTICS

Online giant to open machine learning hub in Barcelona

BY CSA STAFF

Amazon is stepping up its commitment to machine learning.

The online giant plans to open a new research and development (R&D) hub in Barcelona, dedicated to machine learning. Amazon expects to open the lab in early 2018, according to The Verge.

Amazon plans to hire more than 100 engineers and scientists for the lab.

The R&D hub will be housed in the same building as the company’s recently announced Amazon Seller Support Hub. Scheduled to open around the same time, the support hub will help small online companies from Southern Europe sell on Amazon Marketplace, The Verge reported.

The news comes on the heels of Amazon’s plan to open a new North American headquarters. Amazon is accepting proposals from interested North American cities through Oct. 19. The company will announce its decision next year.

To read more, click here.

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FINANCE

Beleaguered electronics retailer inches closer to reorganization

BY CSA STAFF

RadioShack is entering the latest chapter in its ongoing financial saga — but on a positive note.

On Thursday, RadioShack’s Chapter 11 bankruptcy plan cleared a preliminary court review. This decision enables the retailer to move forward with its strategy to reorganize, and save a small portion of the company, according to Dealerscope.

As originally reported by the Wall Street Journal, the reorganized company will be composed of online operations, a major network of independent dealers, and somewhere between “zero and 28” company-owned brick-and-mortar retail locations. Yet, this plan still hinges on the outcome of a lawsuit that RadioShack filed against Sprint back in June.

RadioShack filed for bankruptcy protection in March, its second filing in just over two years. To date, less than 30 company-owned stores remain in operation — down from more than 4,400 prior to its first bankruptcy filing in 2015.

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