Katz to resign as A.C. Moore cfo
BERLIN, N.J. A.C. Moore announced that Marc Katz, evp and cfo of the company, is expected to resign from the company effective June 27 to pursue a career opportunity in the private equity sector.
A.C. Moore has named Michael Zawoysky, vp of financial planning and analysis, as acting cfo. The company said it will conduct a search for a permanent cfo and will consider both internal and external candidates.
Prior to joining A.C. Moore in March 2007, Zawoysky served in various financial positions with Foot Locker, most recently as evp and cfo of Foot Locker Europe and coo and cfo of FootLocker.com.
Ex-Home Depot merchant charged in kickback scheme
ATLANTA James Robinson of Atlanta has been charged with two counts of income tax evasion and one count of conspiracy to commit wire fraud against Home Depot, relating to a kickback scheme involving overseas vendors.
According to U.S. Attorney David Nahmias, Robinson, a former divisional merchandise manager for flooring for Home Depot, is the second person to be charged for taking secret payoffs from the retailer’s foreign suppliers and then not reporting or paying taxes on the income.
“Vendor kickbacks to corporate employees corrupt the honest operations of American businesses, and those who pay, receive, or solicit such payoffs may face federal prosecution,” said Nahmias.
Robinson’s alleged role in the kickback scheme involved him arranging for Home Depot to purchase items for resale on less than the best terms to the company, according to Nahmias. Robinson left Home Depot in July 2007.
Restoration Hardware approves deal with Catterton Partners
CORTE MADERA, Calif. Restoration Hardware reported that its shareholders have accepted the amended merger agreement between Restoration Hardware and certain affiliates of Catterton Partners. The amended merger agreement was adopted on June 12 at a special meeting of shareholders of Restoration Hardware’s outstanding shares of common stock, with more than 99% of the votes cast in favor of the amended merger agreement.
“We are pleased with the outcome of today’s vote and appreciate the strong support demonstrated by our shareholders,” said Gary Friedman, Restoration Hardware’s chairman, president and ceo.
Restoration Hardware said it expects the transaction to be completed next week.