Former Walgreens CEO Greg Wasson's family investment office is joining forces with Innventure, a group that aims to develop businesses around new technologies lent by big corporations, The New York Times reported last week. P&G is expected to be the company's first partner. “Innventure will identify the opportunities, create a company, nurture it, then put in a management team to where it stands on its own — and then we move on,” Wasson, the company's chairman, told The New York Times. “What I think is most interesting is that we’re looking to help leverage their powerful R&D machine with our nimble entrepreneur team to identify the opportunities that they have developed.” In return, Innventure will have a stake in any companies it creates. (The New York Times)
A third of adults report feeling increased stress, and 65% said work is a top source.
Mark Gross adds the company is also working to fundamentally improve the shopping experience in its retail stores.
For its 2017 fiscal fourth quarter ended March 4, Rite Aid reported revenues of $8.5 billion and a net loss of $21.1 million. Its adjusted net loss came in at $3.2 million, which bested Wall Street estimates.
Mike Withers will lead the company's East Region operations, while current EVP, Retail Operations Susan Morris will lead the West Region.
Actions being taken are part of Sears’ continuing corporate restructuring program.
In addition to Gourlay’s appointment, Mark Panzer, SVP pharmacy, health and wellness of Albertsons, was elected the National Association of Chain Drug Stores’ vice chairman, and Helena Foulkes, EVP of CVS Health and president of CVS Pharmacy, was elected NACDS treasurer.
The retailer announced it will open 70 new in-store Sephora shops in J.C. Penney locations and also expand 32 existing shops by nearly 50% to accommodate more products and services.
Colleen Lindholz has been president of The Little Clinic since 2015 and takes over pharmacy duties from Philecia Avery, who Kroger said resigned the company earlier this month to pursue other interests.
Steven B. Rossi, CEO of Digital First Media, and Timothy A. Barton, former CEO of Freightquote.com, which he founded in 1998, to its board of directors, effective immediately.