Ace names CFO
Ace Hardware Corp. has named Dorvin Lively, 49, as chief financial officer effective March 20.
Lively has had “extensive financial and accounting experience,” the company said in a statement, including his most recent post as executive vp and CFO for Maidenform Inc.
From 2000 to 2004, Lively served as senior vp and corporate controller for Toys R Us Inc. He has also held financial positions at Reader’s Digest, Silverado Foods, Pepsi Cola, the Financial Accounting Standards Board and Arthur Anderson.
“We look forward to the knowledge, experience and vision that he will bring to Ace in both the short- and long-term,” said Ray Griffith CEO of Ace Hardware.
Ace announced its search for a new CFO following the departure of Ron Knutson, former vp – finance for Ace, who resigned in December.
Most recently, Ace Hardware restated previously issued income and equity for fiscal years 2006, 2005 and 2004. The restatement was primarily the result of the discovery of a $152 million shortfall due to an inventory accounting error, which the company announced in September 2007.
B&Q to charge for plastic bags
Following in the footsteps of IKEA, Britain’s B&Q chain of DIY stores plans to reduce reliance on free plastic bags in an effort to be more eco-friendly.
The retailer has been conducting a trial period of charging for plastic bags in Scotland and northeast England. In those locations, customers were charged an additional 5 pence (about 10 cents) for plastic bags at checkout. Now B&Q plans to roll out the trial to all of its more than 300 stores, according to the retailer’s parent, Kingfisher.
While charging for plastic bags in an effort to phase them out of use has been popular in Europe, IKEA is one of only a handful of retailers to charge for plastic bags in the United States.
Several countries have banned the use of plastic bags outright, while others have voted to limit their use, including Italy, Ireland, South Africa and Australia.
HIRI cements lineup for spring conference
The Home Improvement Research Institute (HIRI) will tackle the thorny topic of the credit market and its impact on home improvement at its upcoming conference.
The non-profit research organization’s 2008 Spring Conference kicks off April 3 in Washington, D.C., with a full lineup of sessions dedicated to home improvement industry research. One of the late additions to the lineup are Citigroup analysts Steven Wieting, managing director Citi Economic and Market Analysis, and Deborah Weinswig, managing director, retailing/broadlines food & drug and home improvement.
Wieting and Weinswig’s presentation will examine the relationship between the credit, housing and home improvement markets, with a forward-looking perspective.
Also on the agenda are a session called “The Structure of Remodeling Contractors and Coping with Business Cycles,” presented by Kermit Baker of the Joint Center for Housing Studies, Harvard University; and “Beyond Satisfaction: The Return of Loyalty,” by Ed Hass of International Communcations Research.