OPERATIONS

L Brands names bank exec to board

BY Dan Berthiaume

Columbus, Ohio – L Brands has named Stephen D. Steinour to its board of directors. Steinour is chairman, president and CEO of Huntington Bancshares Inc., a $59 billion regional bank holding company headquartered in Columbus, Ohio.

"I am excited to welcome Steve to our board," said Leslie H. Wexner, chairman and CEO of L Brands. "I’m confident that his considerable expertise in business, finance and customer service will provide valuable insight and guidance to our company. We’re extremely fortunate that he has joined our team."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
OPERATIONS

Report: Recurring revenue adoption to continue in 2014

BY Dan Berthiaume

San Francisco — The trend of companies adopting recurring revenue surged in 2013, with brand names using new billing and pricing models to grow sales and deepen customer loyalty. Recurring revenue technology provider Aria Systems projects this surge will continue in 2014 as more companies adopt recurring revenue models because of their flexibility and convenience for customers.

According to data from Incyte Group, nearly half (47%) of U.S. businesses have adopted or are weighing adoption of recurring revenue models. Aria Systems predicts this will force new innovations that could include food producers bypassing grocery stores to sell directly to consumers on a subscription basis, as well as “pay as you go” options for appliances and automobiles, subscriptions to auto-based digital services, and pharmaceutical companies selling allergy medications directly to consumers on a monthly basis. The cloud will assume an even more pivotal role in the area of recurring revenue as new service brokers emerge to help companies monetize services ranging from providing movies to music to obtaining credit scores.

“Businesses large and small, across many sectors, are adopting the flexibility of recurring revenue,” said Tom Dibble, president and CEO, Aria Systems. “It’s not a fad anymore; it’s the new way to do business.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
OPERATIONS

Starbucks shakes up executive roles

BY Dan Berthiaume

Seattle — Starbucks Coffee Company has announced a new leadership structure that it says positions the company to leverage its assets and operations, and gain maximum benefit from the retail, consumer, mobile and digital shifts currently underway in the global marketplace. Most significantly, Starbucks chairman, president and CEO Howard Schultz will expand his focus on innovation in coffee, tea and the Starbucks Experience, as well as next generation retailing and payments initiatives in the areas of digital, mobile, card, loyalty and e-commerce to position Starbucks for its next wave of global growth.

Schultz will work in partnership with the Starbucks senior leadership team, including chief digital officer Adam Brotman and chief strategy officer Matt Ryan.

In addition, building on his 22 years of experience at Starbucks, former CFO and group president of global business services Troy Alstead will be promoted to the newly created position of COO, responsible for overseeing the day-to-day operations of the enterprise. Starbucks senior VP of corporate finance, Scott Maw, will be promoted to executive VP and CFO. Craig Russell, Starbucks voice and advocate for coffee, will be promoted to executive VP, Global Coffee.

“These organizational moves map our internal talent to the rapidly evolving retail environment and significant strategic and market opportunities ahead of us,” said Schultz. “Each of these experienced Starbucks leaders will be working closely with the entire senior leadership team, and me, to bring even greater financial and operational discipline to our business around the world. They will partner with me as I focus on Starbucks mission, growth initiatives and the convergence and integration of our retail and e-commerce, digital, card and mobile assets around the world. There has never been a more exciting time to be a Starbucks partner.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...