Sports Authority CEO retires from daily ops
Englewood, Colo. The Sports Authority announced Wednesday that its CEO and chairman Doug Morton will be retiring his CEO duties.
According to the retailer, Morton, age 59, will remain chairman of the board.
A 22-year veteran of Sports Authority, Morton doesn’t yet have a successor; the board has retained Herbert Mines Associates to conduct a comprehensive internal and external executive search to identify a replacement CEO.
Until a replacement has been identified, the company said it will be operated by an interim Executive Operating Committee consisting of president/CMO David Campisi, chief administrative officer/CFO Tom Hendrickson and COO Greg Waters.
“Doug has been the driving force in growing Sports Authority from a small regional chain to a national powerhouse. He has been one of Leonard Green & Partners’ most trusted and valued management partners for the past fifteen years. We respect Doug’s decision at this time to step back from day-to-day operations and we look forward to his continued involvement as Chairman,” said Jonothan Sokoloff, managing partner, Leonard Green & Partners, L.P., parent.
Sports Authority operates 465 stores in 45 states.
ArrowStream adds CFO to executive management team
Chicago ArrowStream, a leading provider of supply chain solutions for the foodservice industry, announced that John Harvey will join the company Nov. 10 as CFO. He will be responsible for all financial aspects of the company.
Harvey will replace Mary Healy, ArrowStream’s current CFO, who announced her retirement earlier this year.
Harvey brings a wealth of experience from rapidly growing companies to ArrowStream, serving most recently as CFO of Redbox Automated Retail, LLC and then as CFO of Redbox’s publicly traded parent, Coinstar. Prior to Redbox, Harvey was with JetBlue Airways Corp. where he supported the company’s growth from an entrepreneurial start-up to a mature, $3 billion operation serving initially as VP and treasurer and then as executive VP and CFO.
Harvey’s proven ability to build financial teams, discipline and processes that deliver operational insight for rapidly growing companies is crucial as ArrowStream continues its growth trajectory. As the premier provider of supply chain solutions for the foodservice industry, ArrowStream serves blue-chip customers such as Wendy’s, Church’s Chicken, Steak n Shake, and ARCOP, Arby’s purchasing cooperative group.
Key to the company’s rapid success is The ArrowStream Network, which is the largest most extensive system of restaurants chains, distributors and manufacturers in the foodservice industry with more than 2,300 partners and more than $15 billion of transactions on an annual basis.
“When Mary announced her retirement we were concerned about finding someone with equal skills. We are thrilled about the addition of John Harvey to our executive team. His leadership, experience and core values are particularly relevant to the next phase of our evolution and will enhance our already strong financial position as we continue to expand The Network and fulfill ArrowStream’s commitment to delivering supply chain innovation and mutually beneficial solutions to our customers,” said Steven LaVoie, CEO and chairman of ArrowStream.
Starbucks sues former exec for joining Dunkin’ Donuts
Seattle Starbucks Corp. is suing a former executive it accused of violating non-competition and separation agreements when he went to work for rival Dunkin’ Donuts.
Starbucks filed the lawsuit against Paul Twohig, who oversaw the company’s retail operations in the Southeast before joining Dunkin’ Donuts.
Starbucks has accused Twohig of breaching an 18-month, non-compete agreement. At the time of his departure from Starbucks in March 2009, Twohig was responsible for developing Starbucks brand for thousands of retail stores and formulating business plans to respond to competitors such as Dunkin’ Donuts.
According to the complaint, Twohig in August asked to be released from the non-compete agreement so he could take a job with Dunkin’ Donuts. Starbucks refused.
Through an Internet search, Starbucks on Oct. 3 learned Twohig had accepted a position with Dunkin’ Donuts as its brand operations officer.