Kline Named VP of Marketing at Jo-Ann Fabric and Craft
Jo-Ann Fabric and Craft Stores, the nation’s largest fabric and craft retailer, has promoted Riddianne (Riddi) Kline to VP, marketing. She will be responsible for the strategy and execution of all branding, marketing and promotional elements for the company, including advertising planning, creative, marketing support, and public relations.
Kline has been with Jo-Ann for four years, most recently as creative director. She has served other management positions for the company, including director of business management and media, and director of marketing programs. Prior to Jo-Ann, Kline held brand management and marketing positions at Kraft Foods, RadioShack and Michaels Stores.
Office Depot to Move Headquarters
Boca Raton, Fla., Office Depot Inc. broke ground Tuesday on a new headquarters in Boca Raton, Fla. The facility, expected to be completed in 2008, will replace a current headquarters in Delray Beach. It will accommodate up to 2,500 people, 500 more than the current facility.
?“It symbolizes not only our growth, from a company operating a single store in South Florida to a $15 billion enterprise serving customers in 42 countries, but also our commitment to the local community that gave us our start,” Office Depot’s Chairman and CEO, Steve Odland, said in a statement. ??
Report: Costco CEO, CFO Won’t Get Bonuses
New York City, Costco CEO Jim Sinegal and CFO Richard Galanti won’t get bonuses this year because of “imprecisions” with the company’s stock option granting process, according to the Puget Sound Business Journal. According to a filing with the Securities and Exchange Commission (SEC), Sinegal was eligible for a bonus of $200,000 and Galanti was eligible for an $82,000 bonus.
“A special committee of the board of directors concluded that there were imprecisions in the company’s stock option granting process and that these two officers had responsibility for administering that process,” the retailer wrote in the SEC filing. “Because of their responsibilities for the imprecisions in the process and the resulting need for the board inquiry, these officers suggested that they not receive bonuses for fiscal 2006,” the retailer wrote in the SEC filing.”