Ascena Retail Group began a search for a new CFO after its current EVP and CFO, Dirk Montgomery, resigned this week. As the company reviews potential new CFOs, Ascena board member and audit committee chair Randy Pearce, will have more involvement with the company’s finances.
Restoration Hardware has appointed Katie Mitic to its board of directors. Mitic, who will also serve on the board’s audit committee, has nearly 20 years of strategic product, marketing and business development experience.
Walmart had as much to say about an ongoing and expanding investigation into alleged violations of the U.S. Foreign Corrupt Practices Act in its third quarter filing with the Securities and Exchange Commission as it did about its actual financial results.
The addition of retired KPMG International chairman Timothy Flynn to the Walmart board gives the retailer some compliance expertise amid ongoing investigations into alleged violations of the Foreign Corrupt Practices Act.
It’s looking like Walmart’s upcoming annual meeting is going to be a bittersweet affair as the company observes its 50th anniversary against the backdrop of an unfolding Mexican bribery scandal and an appeal from a major shareholder this week urging a no vote on five board members.