Wii GOTTA HAVE IT
At this time last year, most analysts expected Sony’s PlayStation 3 to have blown away the competition by now. But that hasn’t been the case. Instead, the Nintendo Wii has dominated the field during the holidays and looks to do the same in 2008.
According to data from The NPD Group, the Wii sold 981,000 units during the month of November, leaving Microsoft’s Xbox 360 (770,000 units) and Sony’s PlayStation 3 (460,000 units) in the dust. And despite a relatively high price tag of $249, the Wii emerged as the must-have gift of the holiday season, with most stores running out of players each week as Nintendo struggled to keep up with demand.
Weis Markets names new CEO
SUNBURY, Pa. Weis Markets has named David Hepfinger as the company’s new president and CEO, succeeding former CEO Norman Rich, who has retired.
Prior to becoming CEO, Hepfinger was the company’s president and COO.
Prior to joining Weis Markets in March, Hepfinger was SVP of retailing and administration at Price Chopper, a 116 store supermarket company based in Rotterdam, New York. In this position, he oversaw Price Chopper’s warehouse, distribution, procurement and store operations.
New CEO tasked with Borders turnaround
ANN ARBOR, Mich. Borders Group announced that Ron Marshall, who most recently was Principal of Wildridge Capital Management, a private equity firm he founded approximately three years ago, has been appointed president and CEO and will serve as a director. Marshall, replaces George Jones who served in that same capacity since July 2006.
Prior to founding Wildridge Capital, Marsahall was CEO for eight years with Nash Finch Company, a $5 billion food distribution and retail organization, where Marshall was responsible for a turnaround that included the quadrupling of earnings over a six-year period as well as a 40% improvement in EBITDA over the same period.
“Borders is a powerful brand with millions of loyal customers who love to shop in the stores,” said Marshall. “These are tremendous assets that can be built upon once the balance sheet is strengthened and the company is on more solid financial footing. I’ve led turnarounds at other retail organizations and look forward to leading a new management team at Borders to drive profitability and help ensure lasting success for this great name in retail.”
In addition to Marshall’s appointment as CEO, other management changes were announced. Mark Bierley has been named CFO and EVP of finance. Anne Kubek has been appointed EVP of merchandising and marketing. Additionally, Dan Smith has been named to the new position of chief administrative officer.