OPERATIONS

Guess co-founder and chairman to retire

BY Staff Writer

Los Angeles — Guess announced Monday that its co-founder and chairman Maurice Marciano will retire as chairman in January 2012, at the end of the company’s fiscal year.

Marciano will continue as non-executive chairman of Guess’ board of directors, and the company will retain him for two years as a consultant.

Marciano, who hails from southern France and with his brothers founded Guess in 1981, was CEO and co-CEO from 1993 to 2007.

“I am proud of the work we have done and of the strong management team that we have assembled,” said Marciano in a statement.

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OPERATIONS

GNC president resigns company

BY Katherine Boccaccio

Pittsburgh — GNC Holdings announced Monday that its president and chief merchandising and marketing officer Beth Kaplan has resigned the company.

After three-and-a-half years in the position, Kaplan cited a desire to pursue personal interests as reason for the departure. She will also resign as a director of the company.

Joe Fortunato, CEO, will reassume the title of president of GNC.

In related news, Amy B. Lane has joined GNC Holdings’ board of directors, replacing Kaplan.

Lane’s experience includes seats on TJX Cos. and Borders Group boards, as well as 25 years as a Wall Street investment banker.

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OPERATIONS

Wal-Mart’s Japan chief resigns unexpectedly

BY Staff Writer

Tokyo — A Monday report by the Financial Times said that Walmart’s chief executive in Japan has resigned suddenly, just over a year after he assumed the position.

Toru Noda became CEO of Walmart Japan and Seiyu, its Japanese supermarket chain, in February 2010. He has cited personal reasons for the unexpected departure.

Noda will be replaced by Steve Dacus, former COO of both Walmart Japan and Seiyu.

Click here for the full story.

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