PetSmart Names CFO
Phoenix, PetSmart Inc. on Wednesday named Lawrence Molloy as senior VP and CFO to succeed Tim Kullman, who resigned earlier this year.
In his new role, Molloy will be responsible for all financial areas of PetSmart including analysis, planning, compliance, reporting and business and financial strategy. He previously served as VP and CFO of retail at Circuit City Stores Inc.
Home Depot Exec Leaves
Atlanta, The Home Depot announced Friday in a regulatory filing that its COO, Joseph DeAngelo, resigned from the company Thursday following the sale of the unit he oversaw. The sale of the company’s wholesale distribution for $8.5 billion was completed on Thursday. Buyers were a group of private-equity firms.
Former Bloomingdales Chair Forms Investment Firm
New York City, Former Bloomingdales chairman and CEO Marvin Traub has formed TSM Capital, an investment company that will invest in luxury brands and retailers within the apparel, accessories, cosmetics, jewelry and home sectors.
The company will focus on investments that are in their early-growth stages and have revenues ranging from $5 million to $50 million per year. TSM recently completed its first transaction, which involved an investment in the U.K.-based luxury fashion house, Matthew Williamson Holdings Ltd.
Marvin Traub has served as president of his marketing and consulting firm, Marvin Traub Associates, since 1994. Prior to starting his own consulting firm, Traub was the president, chairman and CEO of Bloomingdales for over 20 years.