CVS Health exec to head up finance for home décor superstore
At Home Group has appointed a new finance head.
The fast-growing value home-décor retailer named Jeffrey R. Knudson as CFO, effective Sept. 28. He succeeds Judd Nystrom, who is leaving At Home to explore other “early-stage growth opportunities,” the company said.
Knudson is currently senior VP, finance and retail controller at CVS Health. Previously, he served as VP of finance and accounting at CVS Caremark, director, treasury/mergers and acquisitions at Limited Brands, and previously director, mergers and acquisitions, at Express Scripts,
“Jeff’s strong finance and accounting experience and impressive track record at major retail and consumer companies will add considerable depth to the strong financial team we have in place,” said Lee Bird, chairman and CEO, At Home. “With 167 stores today and a long runway of growth ahead, we are excited to have Jeff on board to help drive the continued achievement of our strategic objectives.”
Commenting on Knudson’s departure, Bird said that he has been an integral part of At Home’s successful transition “from a privately held organization with less than 60 stores and $364 million in revenue, to a thriving public company that has nearly tripled in size.”
Big Lots names apparel exec as CEO
Tailored Brands’ loss is Big Lots’ gain.
Big Lots Inc. has named Bruce K. Thorn, 51, as president and CEO. He succeeds David Campisi, who retired in April.
Thorn was most recently the president and COO of Tailored Brands, whose brands include Men’s Wearhouse, Jos. A. Bank, and Joseph Abboud. Following a transition period with Tailored Brands, Thorn is expected to formally take the reins of Big Lots at the end of September, at which time he will also be appointed as a director to fill the vacancy created at the time of Campisi’s retirement.
Thorn joined Tailored Brands in 2015 as executive VP and COO. Prior to that, he held various enterprise level roles with PetSmart since 2007, most recently as executive VP, store operations, services and supply chain. He also held leadership positions with Gap, Cintas Corp, LESCO, and The United States Army.
Fireworks at Barnes & Noble as bookseller fires back at suit filed by ex-CEO
The recently-fired chief executive of Barnes & Noble is not going “gently into that good night.” And neither is the bookseller.
Demos Parneros, who was terminated for “violations of the company’s policies,” has filed a lawsuit accusing Leonard Riggio, founder and chairman of Barnes & Noble, for engineering his “firing without cause” and for “falsely and irrevocably’ damaging his reputation. The bookseller announced Parneros’ termination in a July 3 press release statement in which it said the firing was not due to any disagreement regarding its financial reporting, policies or practices or any potential fraud, and that he would not receive severance pay.
In his complaint, Parneros said Riggio had told him a day before the announcement that he would be “fired for cause for violating the sexual harassment policy,” citing his alleged “interactions with an executive assistant and purported mistreatment” of company CFO Allen Lindstrom, reported Reuters.
Parneros said he has not violated company policies, and “always conducted himself in a professional manner.”
Barnes & Noble fired back at Parneros’ claims with a statement that called his lawsuit “nothing but an attempt to extort money from the company by a CEO who was terminated for sexual harassment, bullying behavior and other violations of company policies after being in the role for approximately one year.” It called the allegations in the complaint about Riggio as being filled with “lies and mischaracterizations.”
“For more than 50 years, since founding Barnes & Noble, Mr. Riggio is widely known amongst his business associates, colleagues and employees for his impeccable reputation and as an individual and leader that upholds the highest standards of integrity and decency,” the statement read. “Mr. Parneros’ actions were unacceptable and not representative of the high standards by which Barnes & Noble operates.”
Parneros was tapped as CEO of the struggling bookstore chain in April 2017, the chain’s fourth CEO in four years. Prior to joining Barnes & Noble as COO in 2016, he was president of North American stores & online for Staples.