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Big Lots CEO steps down

BY Marianne Wilson

Big Lots is on the hunt for a new chief executive.

The discounter announced the retirement of David Campisi as president, CEO and as a board member. The retailer said that Campisi, who had been on a medical leave of absence since December 2017, has decided to retire in order to focus fully on his health.

Campisi joined Big Lots as chief executive in May 2013.

“After considerable thought, I have decided that the best course of action – for both me personally and Big Lots as an organization – is for me to retire and focus fully on my health,” Campisi said.

The Big Lots board has started a formal search process to identify a permanent successor CEO and is in the process of retaining an executive search firm for assistance in identifying and reviewing both internal and external candidates. In the interim, Lisa M. Bachmann, executive VP, chief merchandising & operating officer, and Timothy A. Johnson, executive VP, chief administrative officer and CFO, will continue to work closely with the company’s executive leadership team and board to carry out Campisi’s executive responsibilities.

“On behalf of the board, I want to thank David for his years of dedicated service to Big Lots,” said Jim Chambers, non-executive chair of the board. “David has provided strong leadership during an important period in the Company’s history, and one of his lasting legacies will be the talented team that he developed at Big Lots.”

Big Lots, based in Columbus, Ohio, operates 1,416 stores in 47 states.

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VF Corp. exec joins Lululemon

BY Marianne Wilson

Lululemon athletica inc. has a new finance chief.

The company announced the appointment of Patrick (PJ) Guido as CFO effective April 30, 2018. He arrives from a seven-year tenure at VF Corp., whose brands include The North Face and Timberland, where he served as treasurer and VP of corporate development. Previously, he was in roles of increasing responsibilities at The Home Depot and Saks Incorporated.

At Lululemon, Guido reports to Stuart Haselden, who has been serving as CFO and COO since he was given the latter role in May 2017.

“With an impressive track record at major retail and consumer companies, PJ has deep experience guiding businesses during periods of substantial economic expansion,” stated Haselden. “Our momentum remains strong and we’re thrilled to have PJ join the team and look forward to his important contributions.”

 

 

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CVS Pharmacy names president

BY David Salazar

CVS Pharmacy has tapped an insider as its new leader.

Kevin Hourican has been appointed president of CVS Pharmacy. He succeeds Helena Foulkes, who left the company to become CEO of Hudson’s Bay Company in February. Hourican had been serving as president while the company looked for a successor.

Hourican joined CVS Health in 2012, and most recently served as executive VP, retail pharmacy, CVS Pharmacy. Before that, he was CVS Pharmacy’s senior VP of operations for the East division. Prior to CVS, he held leadership positions at Macy’s and Sears Roebuck.

“We’re pleased to have Kevin at the helm of CVS Pharmacy,” CVS Health COO Jon Roberts said. “He has a proven track record of bringing innovative new programs and services to our patients and a strong ability to lead our retail pharmacy team. We believe that Kevin will bring his extensive consumer and retail skills to our front store business as well and I have no doubt he will be able to further transform our stores to become the front door of health care for consumers, patients and caregivers.”

CVS Pharmacy operates nearly 10,000 pharmacies in 49 states, the District of Columbia and Puerto Rico. In his new role, Hourican will lead the CVS Pharmacy team in delivering innovative health solutions to create a simpler, more responsive, and affordable experience for consumers, the company said.

Hourican assumes leadership as CVS Health is in the midst of its pending acquisition of health insurer Aetna.

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