Marks & Spencer CEO to Become Exec Chair
London Marks & Spencer Group PLC will promote CEO Stuart Rose to the role of executive chairman. He is expected to hold this post for three years.
Rose will succeed Chairman Terry Burns, who will step down as of June 1. The announcement caused a negative reaction from shareholders as the decision reportedly did not take into account the views of the company’s investors, according to a report from Thomson Investment Management News.
Longs Drug Names COO
Walnut Creek, Calif. Longs Drug Stores announced late Friday that Todd Vasos has been named the company’s new executive VP and COO. The appointment is effective immediately.
Vasos, 46, succeeds Karen Stout, who has left the company, Longs said.
Vasos, previously Longs’ senior VP and chief merchandising officer, will oversee store operations, marketing, merchandising, construction and loss prevention.
In addition, Larry Gatta, 45, group VP of marketing, has been promoted to senior VP and chief merchandising officer.
Rite Aid Promotes Exec
Camp Hill, Pa. Rite Aid announced that Robert I. Thompson has been promoted to senior VP of the Northeast division where he will supervise operations of more than 1,000 stores.
When Thompson joined Rite Aid in 2004 as VP of pharmacy business development, he was charged with developing and implementing strategic initiatives to grow the company’s pharmacy business. He has been involved in planning and implementing Rite Aid’s integration of the recently purchased Brooks and Eckerd drugstore chains.