Editor Picks: Ace’s CEO in the news
HBSDealer recommends the following links to news and information affecting hardware and building supply dealers:
• “How Ace Hardware Turned Corner Stores Into A $4.7 Billion Co-Op:” Ace Hardware CEO John Venhuizen and independent retailers Jeremy and Les Melnick explain their approaches to home improvement retail and the competition. (Source: Forbes.com) Read here.
• “Metro Phoenix home building still years from recovery:” The forecast for 11,000 new homes to be built in 2015 is up from a year ago, but only slightly. (Source: The Arizona Republic) Read here.
• “Hardware store urges its employees to read 'Fifty Shades of Grey:' ” British home improvement giant B&Q sends out the message: The new movie “Fifty Shades of Grey” could boost sales of certain household products. (Source: Fansided.com) Read here.
New role for Frank Blake
The man who guided The Home Depot through the turbulent post-Nardelli years — and earned praise for his performance — Frank Blake was appointed to the board of directors of Procter & Gamble.
The appointment is effective immediately.
"Frank is one of the most respected business leaders in America today. His vision, strategy and focus on execution led Home Depot to strong and sustained business growth,” said A.G. Lafley, P&G’s chairman of the board, president and CEO. "We will deeply benefit from his management expertise and retail experience.”
Blake will serve on the Audit and Governance & Public Responsibility committees of the Board.
He served as the chairman and CEO of The Home Depot from 2007 until his decision to step down as CEO in November 2014. He retired as chairman at Home Depot on Feb. 2, 2015.
Blake joined General Electric in 1991 and held a variety of executive roles there before his appointment as Deputy Secretary for the U.S. Department of Energy in 2001. He joined Home Depot as executive VP in 2002. Blake also previously served as the General Counsel for the U.S. Environmental Protection Agency and as Deputy General Counsel to Vice President George H.W. Bush.
He is a member of the board of directors of Delta Airlines and the Georgia Aquarium.