Starbucks eyes Myanmar expansion
Seattle — Based on the success of its recent entries into the Indian and Vietnamese markets, Starbucks Coffee Company plans to enter the Southeast Asian nation of Myanmar within the next couple of years. Starbucks, which opened its first Vietnam outlet in February and started doing business in India last year, also plans to double its store count in Thailand to about 320 in the next five years.
Political and economic reforms in Myanmar have resulted in the European Union dropping sanctions against the country and the United States easing them.
Bebe names Singh to board of directors
Brisbane, Calif. — Veteran entrepreneur and executive Narry Singh has been named to the board of directors of Bebe Stores.
Singh, who holds more than 20 years of business experience with a focus on digital entertainment, new media, software and e-commerce, was most recently chief executive of mobile entertainment provider Outfit7.
Toys ‘R’ Us names interim CEO
New York — Toys "R" Us has appointed Antonio Urcelay, 61, the head of its European operations, as interim CEO, according to a filing the retailer made on Monday with the Securities and Exchange commission, The Record reported.
Urcelay replaces Gerald Storch, who announced in February that he would be stepping. At the time, Storch said he would remain as CEO during the transition. While his role as chief executive ended Sunday, he continues to serve as chairman of the board.
Urcelay will continue to serve in his current role as the president of Toys "R" Us, Europe, while the chain searches for a permanent CEO.
In other news, Michael D. Fascitelli and Michael Ward have resigned their spots on the Toys "R" Us board of directors. Fascitelli has been a director of the board since 2005, while Ward has been a director since 2007.
Taking their place are Joseph Macnow, who has served as EVP of finance and administration and CFO of Vornado Realty Trust since January 1998, and Greg Why, who has served as an operating partner at Bain Capital since December 2009.
Additionally, the board filled two vacancies with its appointments of Adam Waglay and Dan Guglielmone. Waglay has served as a principal at Kohlberg Kravis Roberts & Co. since July 2010. Guglielmone has served as SVP of Vornado since September 2003.