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HCN Stock Watch: BLDR boom

BY HBSDEALER Staff

Builders FirstSource (BLDR) was up 9.32%, though the change was from a relatively low baseline of $5.91.

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Dave Elliott elected treasurer of the board at IHA

BY HBSDEALER Staff

The International Housewares Association (IHA) has elected Dave Elliott to a second three-year term on its board of directors, as well as appointed him treasurer of the board.

Elliott, who will serve a one-year term as treasurer from Oct. 1, 2013 to Sept. 30, 2014, is currently general manager of small appliances at KitchenAid.

He joined Whirlpool Corp., the parent company of KitchenAid, in 2009. Previously, he worked for Jarden Corp. for 12 years as VP global marketing.

He began his career in 1990 with General Electric in Ontario in various sales and marketing capacities.

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Sears Canada responds to McDonald’s resignation

BY HBSDEALER Staff

Sears Canada spokesperson Vincent Power has responded to HCN’s request for comment over the departure of CEO Calvin McDonald, who sources say left over a disagreement with Sears Holding Corp. as well as disappointment with the struggling retailer’s progress.

"Mr. McDonald resigned from Sears to pursue an opportunity with a leading international company," said Power. He did not offer further comment regarding McDonald, but instead focused on the appointment of Doug Campbell to the position of president and CEO.

"He helped turn our major appliances business positive when he joined us in March of 2011," he said. "The category had been on a period of decline, and appliances are a key category for us. Doug ‘got in the trenches,’ working closely with the merchandising buying team, our associates in the stores, and our suppliers to arrive at solutions that could turn the business around. He was successful and today the effects of what he did for that business are still very evident. He brings merchandising experience and leadership ability to his new post, and we are glad to have him in this most senior position."

McDonald left in the midst of a three-year restructuring initiative, which left some investors worried that the sudden shift would derail the retailer’s efforts.

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