Weyerhaeuser announces leadership changes
Federal Way, Wash.-based Weyerhaeuser announced leadership changes in its Timberlands, Wood Products and Real Estate businesses, effective immediately.
Leaders of the Timberlands, Wood Products, Cellulose Fibers and Real Estate businesses now report directly to president and CEO Dan Fulton, the company said.
“Today’s announcement results in a leaner, flatter structure,” Fulton said. “The elimination of the executive VP forest products position increases my direct involvement in the businesses. I am committed to increasing profitability, reducing debt and returning value to shareholders, and I am confident that these changes will help us achieve these goals.”
The company appointed Tom Gideon, previously EVP forest products, to lead the company’s Timberland business. Gideon led the Timberlands business from 2005 to 2007 and has held a number of leadership positions since joining Weyerhaeuser in 1978.
“Tom has served Weyerhaeuser in many roles and demonstrated his leadership capability,” Fulton said. “Timberlands are our core asset and the focus of our strategic direction. Tom is the right leader to guide the Timberlands business with his deep understanding of our markets and geographies.”
Gideon succeeds Mike Branson, who announced his retirement, the company said.
Larry Burrows, previously president and CEO of the Weyerhaeuser Real Estate Co. (WRECO), will assume the role of SVP wood products. Burrows has led WRECO since 2008, and he joined Weyerhaeuser in 1989.
“Larry has demonstrated his success in driving for substantive improvements to enhance business performance,” Fulton said. “During the last two difficult years, he has brought WRECO back to profitability. He knows the market for our Wood Products business and has the unique experience of having been a wood products customer.”
Peter Orser, previously president of Quadrant Corp., Weyerhaeuser’s home-building operation in the Puget Sound region, becomes president and CEO of WRECO. Orser joined Weyerhaeuser in 1987. He assumed leadership of Quadrant in 2003.
“Peter is well prepared to lead the WRECO family of companies,” Fulton said. “He has demonstrated success in focusing, aligning and building an effective team while still acknowledging significant product and market differences.”
RILA applauds passage of organized retail theft bill
The Retail Industry Leaders Association (RILA) applauded the Sept. 29 passage in the U.S. House of Representatives of legislation that will create a unit inside the Department of Justice to investigate and prosecute organized retail crime (ORC) and assist state and local law enforcement and prosecuting agencies.
“Through passage of this legislation a critical first step has been taken toward combating organized retail crime, and we commend Congress for their leadership and bipartisan support,” said John Emling, senior VP government affairs, RILA.
The Organized Retail Theft Investigation and Prosecution Act of 2010 was introduced by House Judiciary, Subcommittee on Crime, Terrorism and Homeland Security Chairman Bobby Scott (D-Va.) and co-sponsored by Judiciary Chairman John Conyers (D-Mich.), Ranking Member Lamar Smith (R-Texas) and Congressman Bob Goodlatte (R-Va.).
This bipartisan legislation directs the U.S. Attorney General to establish an Organized Retail Theft and Investigation Unit tasked with investigating and prosecuting ORC, assisting state and local law enforcement’s pursuit of organized retail thieves, and working with victims of the growing criminal activity.
Walmart names new CFO
Bentonville, Ark.-based Walmart announced its board of directors has elected Charles Holley, 54, as chief financial officer, effective Nov. 30.
Holley, currently EVP finance and treasure, will succeed Tom Schoewe who agreed to stay on until Jan. 31 to help with the transition, the company said.
“Charles has great experience both inside Walmart and externally,” said CEO Mike Duke. “He is a talented strategist who also thoroughly understands the details of our business and the financial markets. As treasurer, he has helped drive the strategy behind the company’s strong financial position and has made every organization he has led stronger.
“Charles has also played a strong role in pioneering the company’s international expansion. He is respected within the company as well as by the investment community, and has been a key part of our strategic discussions for a number of years.”
Holley joined Walmart in 1994. Previous to that, he worked for Tandy Corporation (now Radio Shack) as managing director for its European Memorex division and served as director of finance for its international operations. He also spent more than 10 years with Ernst & Young.
Schoewe, 57, joined Walmart in 2000, and was previously with Black & Decker for 14 years, most recently as CFO.
“Tom has been a key member of Walmart’s strategic team for the past decade and has overseen our financial functions during a period of tremendous growth and international expansion,” said Duke. “During that time he played a leading role in strengthening our balance sheet and our financial controls, and in establishing the financial priorities of growth, leverage and returns that guide our business.
“One of Tom’s greatest strengths is his focus on talent development, and he has built a strong and deep team across all our operations,” said Duke. “Under his leadership, the company has continued to increase its returns to shareholders, and through the first half of this fiscal year gave back $9.4 billion through dividends and share repurchase.”