First CityTarget stores debut July 25
MINNEAPOLIS — The first of Target’s smaller-format CityTarget urban stores are slated to open on July 25 in Chicago, Los Angeles and Seattle.
Two years in the making, the smaller stores will feature broad offerings in a space two-thirds the size of a regular Target store – or 80,000 sq. ft. to 100,000 sq. ft., compared with 135,000 sq. ft. to 175,000 sq. ft.
Target has said it will open another Los Angeles CityTarget store later this year, as well as a first store in San Francisco. A third Los Angeles location and one in Portland, Ore., are slated to open in 2013.
Avon executive heads to Kraft Foods
NORTHFIELD, Ill. — Kim Rucker will become EVP corporate and legal affairs at Kraft Foods North America, the company announced Thursday.
Rucker — who most recently served as SVP, general counsel, corporate secretary and chief compliance officer at Avon — will be responsible for leading the legal, corporate governance and corporate affairs functions for Kraft Foods. Later this year, Rucker will become EVP corporate and legal affairs, general counsel and corporate secretary. Officially stepping into her new role in late August, she will report to North America president and future CEO Tony Vernon.
"Kim’s extensive experience providing strong strategic and legal counsel to boards of directors, CEOs and executive teams of large public companies will be invaluable as we become a standalone entity," Vernon said. "Her broad and deep background in law and corporate governance, plus her knowledge of the CPG sector, make her an important asset to our team. I look forward to working closely with Kim as we become a world-class public company and North America’s favorite food and beverage business."
Since 2008, Rucker has led Avon’s global legal operation, including corporate governance, compliance, litigation, government affairs and intellectual property. Prior to joining Avon, she was SVP, corporate secretary and chief governance officer for Energy Future Holdings, formerly TXU Corp. Previously, Rucker was corporate counsel for Kimberly-Clark and a partner in the corporate and securities group at Sidley Austin in Chicago.
PepsiCo expands board of directors
PURCHASE, N.Y. — PepsiCo announced it has elected the former leader of 3M to its board of directors.
The company said Sir George Buckley, who currently serves as chairman of private equity firm Arle Capital LLP, will join the board and audit committee on Sept. 19. Prior to his role at Arle Capital, Buckley served as chairman, president and CEO of 3M.
"George has years of proven results in business and financial leadership, innovation, and management," PepsiCo chairman and CEO Indra Nooyi said. "We are delighted that he will bring that strong record of achievement to PepsiCo."
The election of Buckley to PepsiCo’s Board will bring the total number of directors to 13 and the total number of independent outside directors to 12. PepsiCo’s board includes one inside director: Nooyi.