Edible Arrangements names new CEO
Edible Arrangements has named the second CEO in its history.
The retailer, known for its fresh-cut fruit arrangements and all-natural, fresh fruit snacks and dipped treats, has named QSR industry veteran Mike Rotondo as CEO. He joins the company after spending 10 years — the last five as CEO — at Tropical Smoothie Café. His career also includes key leadership roles at Wendy’s International, HoneyBaked Ham and Arby’s Restaurant Group.
Rotondo will be based in Edible’s Atlanta headquarters where he will oversee all franchise operations.
His career spans more than 30 years in the quick-service industry.
“I’ve closely followed Mike’s career over the past decade at Tropical Smoothie, and when the time came to bring in a CEO, I knew he would be perfect for the role,” said Tariq Farid, the founder of Edible and the only CEO in the company’s history.
Farid will now focus on growing Edible Brands, the parent company that includes technology, supply chain and other businesses as well as the Edible Arrangements brand.
With more than 1,200 franchise locations open or under development worldwide, Edible Arrangements is the world’s largest franchisor of shops offering creatively designed fresh cut fruit arrangements.
Welcome to Mr. Rotondo. I'm sure he will leverage his vast knowledge and experience to move the company forward and help this amazing brand's growth.
I do hope Mr. Rotondo will reevaluate the marketing via email contests. They are very misleading and cause much confusion. I received an email stating Giveaway Free Donuts . Noone at the company email response center can or will supply answers to my questions. In short, the Marketing Dept needs some major overhaul. Don't deceive your customers. Or is this the new way introduced by Mr. Rotondo?
Lowe’s eliminates roles of COO, chief customer officer amid leadership revamp
Lowe’s Companies is shaking things up with a new leadership structure that eliminates the positions of some high-ranking executives.
The announcement comes just seven days after Marvin R. Ellison, formerly head of J.C. Penney, officially began his duties as Lowe’s new president and CEO. Ellison replaced Robert Niblock, who announced his plans to step down as chief executive in late March after a 25-year career at the home improvement chain, including 13 years as chairman and CEO.
Richard Maltsbarger, COO, has left the company, effective immediately. Maltsbarger had been with the company since 2004, and became COO in February 2018.
Chief customer officer Michael McDermott, will leave Lowe’s effective Nov. 6, to pursue other interests, the company said. McDermott joined Lowe’s in 2014, and was promoted in 2016.
In addition to eliminating the COO and chief customer officer positions, Lowe’s will eliminate the positions of corporate administration executive and chief development officer. It is creating two new positions: executive VP, supply chain, and executive VP, stores.
The responsibilities that formerly fell under the positions being eliminated will be assumed by other senior leadership roles that will report directly to Ellison.
“We have taken a fresh look at our organizational structure and are realigning our leadership team to improve our focus, better leverage Lowe’s omnichannel capabilities and deliver increased value for our customers, associates and shareholders,” stated Ellison.
The roles involved in the new organizational structure include:
• Executive VP, Merchandising: This role will be responsible for merchandising, marketing, digital, and data analytics and customer insights. William P. (Bill) Boltz has been named to the role, effective Aug. 15, 2018. He is currently the president and CEO of global power tool supplier Chervon North America.
In addition, Boltz previously held several leadership roles in merchandising at The Home Depot, including senior VP of hardlines. Prior to that, he was with Sears for more than 20 years.
• Executive VP, Stores: The company has initiated an external search for this newly created role, which will oversee the North, South and West divisions, Orchard Supply Hardware, operations engineering, Pro and services businesses, and asset protection. The senior leaders of the store operations team will report to the CEO until an executive VP is named.
• Executive VP, Supply Chain: This newly created role will oversee distribution centers, logistics, global sourcing, transportation and delivery services. Mike West, current senior VP, supply chain operations, will serve in the role on a transitional basis while an external search is underway.
• Senior VP, Chief Information Officer: Paul D. Ramsay will remain in his current role as CIO.
• Executive VP, Chief Financial Officer: As previously announced, Marshall A. Croom plans to retire from the company, effective Oct. 5, 2018. An external search is underway.
• Executive VP, General Counsel & Corporate Secretary: Bill McCanless will remain in his current role as executive VP, general counsel and corporate secretary. Effective immediately, N. Brian Peace, senior VP, administration, will report to McCanless. Peace will take another role in the fall.
• Executive VP, Human Resources: Jennifer L. Weber will remain in her current role as executive VP, human resources.
• President & CEO, Canada: Sylvain Prud’homme will remain in his current role as president & CEO, Canada, where he will continue to oversee operations in Canada and Mexico.
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CEO confidence inches down; less optimistic about growth
Chief executive officers’ confidence in the economy declined slightly in the second quarter, but overall sentiment still remains positive.
That’s according to The Conference Board’s Measure of CEO Confidence, which increased in the first quarter of 2018. The metric now reads 63, down from 65 in the first quarter of 2018 (a reading of more than 50 points reflects more positive than negative responses).
“CEOs’ optimism regarding the growth prospects for both mature and emerging economies have eased considerably since the beginning of the year,” said Lynn Franco, director of economic indicators at The Conference Board. “However, most CEOs expect profits will increase over the coming year, with market/demand growth and cost reductions the major driving forces.”
Looking ahead, the expectations of CEOs regarding the economic outlook are much less optimistic than last quarter. Now, just 48% expect economic conditions to improve over the next six months, compared to 63% in the second quarter. CEOs’ expectations regarding short-term prospects in their own industries over the next six months were relatively flat, with only 42% anticipating an improvement in conditions.
CEOs’ assessment of current economic conditions, however, was about the same as in the first quarter of 2018, with 74% saying conditions are better compared to six months ago. CEO sentiment was also virtually unchanged regarding the assessment of current conditions in their own industries, with about 51% saying conditions are better than six months ago.
CEOs are optimistic about profit expectations for the next twelve months, with about 91% expecting profits to increase, compared to 71% last year.
Among chief executive officers who expect profits to rise, 62% say market/demand growth will be the primary driving force, while 15% cite cost reductions and a similar proportion citing price increases. New technology is cited by 8% of CEOs as the primary source of improvement in profits.
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