Staples makes exec appointment
Framingham, Mass. — Staples announced the appointment of Cynthia Pevehouse to senior VP general counsel, effective Jan. 3, 2012. She will have global management responsibility for the company’s legal team and report to Ron Sargent, Staples’ chairman and chief executive.
Pevehouse joins Staples from international law firm Steptoe & Johnson LLP.
Talbots on hunt for new CEO
Hingham, Mass. — It’s official: Talbots Inc. is seeking a new CEO as it works to turn around its struggling business. The retailer said Monday that president and CEO Trudy Sullivan plans to retire as soon as a successor is named.
The company said it has created a search committee of independent board members and hired executive search firm Spencer Stuart to assist in its search.
The announcement comes less than a week after Tablots reported its third loss in the past four quarters and detailed plans for a turnaround, which included such cost-cutting measures as job cuts, closing stores, reducing employees’ hours, and suspending national advertising and TV campaigns for the short term and reducing inventory. Talbots has posted an annual loss in three of the past four years. It lost $22 million in its most recent quarter.
Sullivan has served as CEO since Aug. 1, 2007, when she was hired to turn around the company. But the chain has struggled to regain its footings in the wake of the recession, beset with fashion missteps and more budget-conscious consumers.
Sullivan will remain as president, CEO and a board member until Talbots finds a new chief.
Starbucks to create 5,000 U.K. jobs in next five years
Seattle — Starbucks Coffee U.K. plans to create thousands of new jobs in the United Kingdom as it steps up its drive-thru program following three years of development and strong customer response to the convenience of Starbucks coffee on-the-go.
The move will see 200 new drive-thru stores opened over the next five years. Combined with openings of conventional stores over the same period, the company expects to create 5,000 new jobs.
Starbucks said about half of the new drive-though units will be operated under license by petrol forecourt retailer Euro Garages. The coffee giant also is developing a new drive-thru concept store.
“I welcome Starbucks’ announcement, and I am glad to see continued investment and job creation in the private sector," said British Prime Minister David Cameron in a statement.