Management
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FOOTHILLS RANCH, Calif.-- The Wet Seal Inc. said Friday and its chief operating officer is stepping down as the struggling retailer implements a broad restructuring program. Wet Seal also authorized a $25 million stock buyback program, cut 35 jobs and will close two money-losing Arden B stores at the end of its 2012 fiscal year.
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FOOTHILLS RANCH, Calif.-- The Wet Seal Inc. said Friday and its chief operating officer is stepping down as the struggling retailer implements a broad restructuring program. Wet Seal also authorized a $25 million stock buyback program, cut 35 jobs and will close two money-losing Arden B stores at the end of its 2012 fiscal year.
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ST. LOUIS-- The CEO of St. Louis- based Build-A-Bear Workshop Inc. is retiring, 16 years after she founded the kid-friendly chain that now has more than 400 outlets worldwide. She was also a former executive of the old Venture Stores and the May Co.' s Famous-Barr stores. Clark is a trustee of Washington University and a national board member of Teach for America.
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McLEAN, Va.-- Capital One Financial Corp. on Friday named Stephen Crawford as its next chief financial officer. Crawford will join the McLean, Va.- based bank on Feb. 4 and become a member of its executive committee. On May 24, he will transition to the role of CFO and succeed Gary Perlin, the company's current finance chief, who will retire.
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The chief executive of Nordic and emerging markets telecoms group TeliaSonera resigned on Friday after an in-house investigation into its purchase of an Uzbekistan 3G licence harshly criticized the deal.
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HOUSTON, Feb 1- As J. Wayne Leonard retires from the ranks of U.S. electric utility executives, the former chairman of New Orleans- based Entergy Corp said he will continue to push the industry and the nation to combat climate change.
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SAN JOSE, Calif.-- Computer networking gear maker Cisco Systems Inc. said Friday that it appointed Motorola Solutions Inc. Chairman and CEO Greg Brown to its board of directors. He has worked at Motorola since 2003 and was named CEO of the company in January 2008. He became deputy chairman of the Federal Reserve Bank of Chicago in December.
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CINCINNATI-- Telecommunications company Cincinnati Bell Inc. on Thursday named Ted Torbeck its chief executive, succeeding Jack Cassidy, who will step down as CEO and become vice chairman of the board of directors. Prior to joining Cincinnati Bell, Torbeck was CEO of Freedom Group, a subsidiary of private equity firm Cerberus Capital Management.
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LONDON, Jan 31- UK lawmakers grilled senior tax officials from leading accounting firms on Thursday over their role in helping big companies avoid tax, and said they could be banned from government contracts because of their tax work.
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LONDON, Jan 31- Shareholders must be hoping the removal of Aubrey McClendon as Chesapeake's chief executive will end the corporate governance discount attached to the company's share price and unlock superior returns. Shareholder activists like Carl Icahn have focused on governance issues.
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Jan 31- United Parcel Service Inc reported a net loss in the fourth quarter after a $3 billion one-time charge from pension accounting, and forecast that 2013 earnings would rise 6 percent to 12 percent. UPS, the world's largest parcel delivery company, on Thursday posted a fourth-quarter net loss of $1.75 billion, or $1.83 per share, after the non-cash charge.
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Jan 31- Aetna Inc said on Thursday that fourth-quarter earnings fell sharply, as costs rose in parts of its employer-based insurance business and as it took charges for settling litigation involving its payment practices for out-of-network care.
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NEWTOWN, Pa.-- A private equity firm plans to buy BioClinica Inc., which provides clinical trial management services, in a deal valued at about $123 million. BioClinica, based in Newtown, Pa., said Wednesday its board of directors has unanimously approved the deal, in JLL Partners Inc. will pay $7.25 for each BioClinica share.
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SIENA, Italy, Jan 30- Italy's market regulator Consob joined the government and the Bank of Italy on Wednesday in defending its oversight of Monte Paschi as magistrates investigated allegations of bribery and accounting malpractice at the historic bank.
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Jan 29- Chesapeake Energy Corp said on Tuesday that Aubrey McClendon will step down as chief executive after a tumultuous year in which a series of Reuters investigations triggered civil and criminal probes of second-largest U.S. natural-gas producer.
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CHARLOTTE, N.C.-- Nucor Corp. on Tuesday reported flat fourth-quarter net income, as the effects of lower costs and an accounting-related gain were offset by a drop in sales. Excluding those items, Nucor posted an adjusted profit of 31 cents per share.
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LONDON, Jan 29- Britain's accounting watchdog declined to take any action against Ernst& Young over its auditing of Lehman Brothers before the U.S. investment bank failed in 2008 and triggered a near meltdown in global markets.
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LONDON, Jan 29- Britain's accounting watchdog said it won't take any action against Ernst& Young over the way it checked the books of Lehman Brothers, the U.S. bank whose failure triggered a near meltdown in global markets in 2008..
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LONDON, Jan 29- Bumi Plc, the London- listed Indonesian coal mining group riven by a shareholder dispute urged investors on Tuesday to reject British financier Nat Rothschild's proposal to replace the board and back its own plan for peace instead.
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Jan 28- Time Warner Inc named digital technology expert Kevin Tsujihara as chief executive of Warner Bros. The decision underlines the importance Warner Bros. is placing on digital distribution.
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*Elliott Associates may nominate directors to Hess board. Jan 28- Hess Corp on Monday announced plans to sell its oil storage terminal network and exit the oil refining business, after activist hedge fund Elliott Associates said it was considering nominating directors to the Hess board.