Network of Executive Women honors Walmart chief Duke with diversity award
CHICAGO — The Network of Executive Women is honoring Mike Duke, president and CEO of Wal-Mart Stores, with its William J. Grize Diversity Hall of Fame Award, on June 28 during Women’s Day at the LPGA in Rogers, Ark. The award, named after the late CEO of Ahold USA, who was an early advocate of industry diversity, is bestowed upon industry leaders who have demonstrated "an enduring commitment to the advancement of women and to creating a diverse and inclusive workplace," NEW announced.
"Under Mike Duke’s leadership, the world’s largest retail company has promoted talented women to the highest levels," NEW president and CEO Joan Toth said "His commitment to gender diversity and inclusion has put a spotlight on the importance and value of developing women leaders and continues to strengthen Walmart’s position in the marketplace."
Duke will receive the award at Women’s Day at the LPGA, an official event of the Walmart Northwest Arkansas LPGA golf championship. The breakfast event will be co-hosted by NEW Northwest Arkansas June 28 from 8:30 to 10:30 a.m. at the John Q. Hammonds Center in Rogers, Ark.
The event will feature a panel discussion by industry leaders, including Duke; Gisel Ruiz, EVP and COO of Walmart US; Elane Stock, president of Kimberly-Clark Professional; and past Network of Executive Women Board Chair Alison Kenney Paul, vice chair, U.S. retail leader, principal for Deloitte. The event is open to industry members who register online at Newonline.org.
During Duke’s tenure as president and CEO, Rosalind Brewer, the first chairperson of the Walmart president’s council of global women leaders, became the first woman and African American to lead one of Walmart’s three business units when she was promoted to chief executive of Sam’s Club in January. At the same time, Walmart promoted Gisel Ruiz to EVP and COO of its U.S. business and Karenann Terrell to CIO.
"Being involved in the Network’s leadership, I have the opportunity to see how a variety of companies lead diversity," said NEW board chair Michelle Gloeckler, SVP home for Walmart U.S. "I can assure you, at Walmart it’s part of our culture and we believe we are the best at it in the industry around the globe."
NRF: Swipe fees haven’t dropped enough
WASHINGTON — The National Retail Federation is responding to a report from the Federal Reserve that revealed that debit card swipe fees collected by the nation’s largest banks have dropped significantly since reform regulations took effect last fall.
The Federal Reserve’s report showed that the average debit card swipe fee charged by large banks covered under last year’s regulations dropped to an average of 24 cents in fourth quarter 2011, down from an average of 43 cents in 2009. Debit swipe fees for banks with less than $10 billion in assets, which were not covered by the regulations, remained unchanged as expected.
The NRF, however, said the decrease in swipe fees charged is not enough and expressed disappointment over this result.
"We believe the numbers for the big banks are too high and had the Fed followed the law there would be significantly greater savings for merchants and their customers," NRF SVP and general counsel Mallory Duncan said. "This is working the way the Fed set it up to work, but the Fed didn’t fully comply with what Congress required. This is better than paying the full monopoly prices we paid before but they are still partial monopoly prices."
FMI to host next One Big Event 2014 in Chicago
DALLAS — The Food Marketing Institute’s One Big Event, a trade conference the association hosts every other year, will be held in Chicago from June 10 to 13 in 2014, FMI announced Monday.
“Chicago already supports an inherent food culture and it’s home to 19 of our FMI retailers, such as Central Grocers, Potash Markets and even Walgreens," FMI president and CEO Leslie Sarasin said.
This year at the One Big Event, more than 14,000 individuals registered, which included more than 2,800 exhibitors and 90 participating countries, FMI asid.
More information on the 2014 convention will be available this summer, the association added.