Scott, Williams to leave Walmart board
BENTONVILLE, Ark. — Former Walmart CEO Lee Scott and Audit Committee chairman Christopher Williams will step down from the retailer’s board in June.
Scott stepped down as CEO in early 2009 after joining Walmart in 1979. Walmart said Scott’s departure was in keeping with its historical practice of board service for prior CEO’s. It also helps the company avoid having too many insiders on the board as former CEO Mike Duke is on the board as is Doug McMillion who succeeded Duke as CEO earlier this year.
Williams served on the board for the past 10 years, the last two of which have been more like a full time job. Williams served as chairman of the four member Audit Committee tasked with investigating and overseeing matters related to alleged violations of the Foreign Corrupt Practices Act.
The Audit Committee met 22 times last year, making Williams the most highly compensated board members with $348,000 in pay, and oversaw the expenditure of $282 million related to FCPA matters. That was on top of the 15 Audit Committee meetings held the prior year and expenditures of $157 million.
Walmart did not indicate who would replace Williams as chair of the Audit Committee.
Nielsen inks new beauty market agreement with the NPD Group
NEW YORK — Nielsen has teamed up with the NPD Group, a global information company, to jointly produce the quarterly U.S. Beauty Cross Channel Monitor.
The report reviews the U.S. beauty market performance, providing a market view spanning both the prestige and mass retail channels.
“The new agreement allows Nielsen and NPD to offer clients an unparalleled depth of insight and actionable intelligence,” stated John Lewis, president, Americas, Nielsen. “This will enable clients to make more informed business decisions and capitalize on new market opportunities.”
“We are committed to delivering the best information, insights, and solutions for our clients in all of the industries we serve,” added Karyn Schoenbart, president and COO, NPD. “We look forward to collaborating with Nielsen on this critical overview of the beauty marketplace.”
The Beauty Cross Channel Monitor will combine Nielsen and NPD point-of-sale data across food, drug, prestige department stores, and all retail outlets combined, providing a read on sales and performance for all beauty categories including dollar sales, unit sales and average retail price, in addition to a ranking of the top 75 to 100 brands.
The two organizations have worked together closely to create more refined product definitions, creating a more comprehensive view of product performance. This will allow brand marketers to better evaluate the performance of categories, segments and brands across major beauty distribution channels to better understand and respond to new U.S. beauty market opportunities, the companies stated.
This is the second market information agreement between Nielsen and the NPD Group in 2014. The two firms are collaborating in the offices supplies market. As part of that arrangement, Nielsen is serving as NPD’s preferred analytics partner for NPD clients in the office supplies market.
Supervalu announces election of new board members
MINNEAPOLIS — Supervalu has elected Frank (Terry) Savage and Mathew Pendo to its board of directors.
Savage and Pendo were both appointed to the board as designees of Symphony Investors, a Cerberus Capital Management-led investor consortium, under the terms of the tender offer agreement entered into with Symphony Investors and Cerberus in connection with Supervalu’s sale of five banners to an affiliate of Symphony Investors. Symphony Investors owns approximately 20.9% of Supervalu’s outstanding common stock.
Savage is currently a senior advisor to Lazard and the former vice chairman of U.S. Investment Banking at Lazard.
Pendo is currently a managing director at Sandler O’Neill Partners, a boutique investment banking firm focused on the financial services industry.
The board now has 11 members, nine of whom are independent directors under the New York Stock Exchange listing standards.