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Home Depot names new director

BY HBSDEALER Staff

Home Depot has announced the appointment of Brian Cornell to the company’s board of directors, bringing the number of Home Depot directors to 14.

Cornell is the CEO of Michaels Stores, one of North America’s largest specialty retailer of arts, crafts, framing, floral, wall decor and seasonal merchandise.

Cornell has more than 25 years of experience in consumer products marketing and general management. Prior to joining Michaels in June 2007, he served as the executive vp and chief marketing officer of Safeway, where he was responsible for the company’s marketing, merchandising, manufacturing and distribution operations.

Before his time at Safeway, Cornell served as president of Pepsi-Cola North America’s Food Services Division, regional president of PepsiCo’s European/African beverage business and president of Tropicana Products International. He also currently serves on the board of directors of OfficeMax.

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Lowe’s: now in 50 states

BY HBSDEALER Staff

Lowe’s officially opened the doors yesterday of its first Vermont store,in the city of Burlington, marking the retailer’s entry into all 50 U.S. states.

Spokeswoman Maureen Rich told the local newspaper Burlington Free Press that the retailer planned to hold off on a proper grand opening celebration until the spring, because of winter weather. “We’re very excited with this expansion. This is a milestone for Lowe’s,” she told the newspaper. Calls to Lowe’s for a follow-up comment were not immediately returned.

Preceding the formal opening, the store held a soft opening for commercial customers only. The Lowe’s store had been in the works for several years, having been delayed by stormwater runoff concerns and other permit issues, according to news reports.

The Burlington store will not remain the only Lowe’s store in the state for long. The retailer is seeking permits for further stores in Essex, Vt., and St. Albans Town, Vt.

Home Depot has a larger presence in Vermont — currently, the retailer has four locations in the state.

Mooresville, N.C.-based Lowe’s operates more than 1,450 stores in the United States and Canada.

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Rust-Oleum acquires fire protection business

BY HBSDEALER Staff

Rust-Oleum has announced that its subsidiary, Tor Coatings, has acquired certain assets of Bollom, a maker of fire retardant coatings and varnishes. Terms of the deal were not disclosed.

The Bollom business includes brand names Fireshield, Intusteel, Fireguard, Flamebar and Intuclear. The products are primarily sold in the United Kingdom.

“The Bollom fire protection brands are an excellent fit with our current business,” said Colin Carter, CEO of Tor Coatings. “In addition to expanding our technology offering to existing customers, these added brands will take Tor to new markets and applications.”

Vernon Hills, Ill.-based Rust-Oleum acquired Tor Coatings in March 2007. Rust-Oleum’s other brands include Painter’s Touch, American Accents, EpoxyShield and Varathane.

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