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Tiffany affirms corporate responsibility

BY Dan Berthiaume

New York — Tiffany & Co. today released its annual Corporate Responsibility Report, which affirms what the retailer says are efforts to positively improve the entire jewelry supply chain. This includes promoting responsible mining standards and increasing awareness about critical issues affecting the industry, such as the environmental concerns surrounding the development of the proposed Pebble Mine in Bristol Bay, Alaska.

Among other things, Tiffany said it strives to source diamonds, gemstones and precious metals from mines that conform to high standards of social and environmental responsibility, uses only Forest Stewardship Council (FSC)-certified paper suppliers, received the United States Environmental Protection Agency’s Excellence in Greenhouse Gas Management (Goal Achievement Award) for surpassing its goal to reduce U.S. Scope 1 and 2 greenhouse gas emissions by 10% per square foot from 2006 to 2011, and consolidated its New York affiliate’s headquarters into a LEED-CI Platinum office space, reducing emissions by 23%.

“The report documents our long-held commitment to sustainability and influencing others in the jewelry industry to make environmental conservation a critical part of their operations,” said Tiffany & Co. chairman and CEO Michael J. Kowalski. “We are proud of our accomplishments and proud too of keeping our promise to our customers to redouble our efforts in protecting the natural world.”

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J.C. Penney, Ackman set terms whereby he can sell stake

BY Marianne Wilson

New York — J. C. Penney disclosed in a Securities and Exchange Commission filing on Friday that it entered into a Registration Rights Agreement with Bill Ackman’s Pershing Square and its affiliates that gives him an out to completely walk away from the company. Under the deal, Ackman can make up to four requests to Penney to register the sale of his restricted common stock.

"It is paving the way for (Pershing Square) to sell the stock if they choose to do so," Imperial Capital analyst Mary Ross Gilbert said in a Reuters report.

Ackman, whose firm owns about 18% of Penney, resigned from the board earlier this week. His resignation came on the heels of a heated public battle with the board, which saw him call not only for a quick replacement for interim CEO Myron Ullman but also for a new chairman. The billionaire investor has not said publicly what he plans to do with his shares.

Penney is set to release its second quarter results on Aug. 20.

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Email delivery services provider names e-commerce exec as CEO

BY CSA STAFF

LAS VEGAS — SMTP, Inc., a global provider of email delivery services, has appointed Jon Strimling as CEO of the company.

"Jon is a proven executive and entrepreneur, with a track record of driving revenue and earnings growth," stated Semyon Dukach, chairman of SMTP. "His deep experience in operations, marketing and e-commerce will prove invaluable as he leads SMTP through its next phase of growth."

Strimling has 20 years of experience as an executive and entrepreneur, largely focused on the commercialization of innovative products and services. He previously served as CEO of US Dynamics, a technology commercialization firm that spun out three new ventures during his tenure, including online retailer WoodPellets.com. As CEO of WoodPellets.com, Strimling is credited with growing revenue nearly 400% annually for two consecutive years.

Previously, Strimling served in a variety of senior operational, technical and financial roles with DEKA Research & Development, American Industrial Partners and General Electric. He has served as an active board member with American Biomass Corporation and UltraCell Insulation, and was a governor’s appointee to the Economic Strategy Commission for the State of New Hampshire.

"SMTP has successfully built a diverse customer base and a robust platform that has led to a history of profitable growth," said Strimling. "Leveraging that foundation, we see significant opportunities ahead to further capitalize on the growing e-mail delivery sector. Through improved operations, expanded sales and marketing initiatives, and ongoing product development efforts, I strongly believe we can generate ongoing shareholder value improvement."

Strimling is a graduate of MIT’s Leaders for Global Operations program, through which he earned dual master’s of science degrees in management and mechanical engineering.

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