Management

Francesca's Holdings Corporation today announced that it has terminated for cause the employment of Chief Financial Officer Gene Morphis based on an investigation by its board of directors with the assistance of outside counsel, which has found that he improperly communicated company information through social media. The investigation was launched after the company discovered this activity on May 11. Cynthia Thomassee, Francesca's controller since 2007 and vice president of accounting since 2010, will serve as interim chief financial officer.

At the direction of its board of directors, Robert P. Stiller no longer serves as Green Mountain Coffee Roaster's chairman of the board and William D. Davis no longer serves as lead director of the board, effective immediately. Additionally, Stiller and Davis will no longer serve on any board committees and will not receive future payment for their service on the board until the board determines otherwise. These changes are the result of the actions taken by the board to address stock sales by Stiller's and Davis' brokerage firm, which sales were inconsistent with the company's internal trading policies.

Kevin Plank can't help himself. The Under Armour CEO might know, in his heart of hearts, that his horse is a long shot against the world's finest three-year-old thoroughbreds. His farm manager, Tom Mullikin, describes the dark bay colt as more "grinder" than star. But Plank's own rise, from blindly ambitious college kid to billionaire apparel mogul, is an underdog tale. So he can't help but play Joe Namath and talk big about his colt's chances in the 137th Preakness Stakes. "Tiger Walk will win."

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According to a filing by Best Buy, former CEO Brian Dunn may receive $3.3 million or zero in termination payments following his highly publicized resignation. The payout is dependent on whether Dunn is determined to have left voluntarily on April 9. In the filing, Best Buy said it's reviewing Dunn’s compensation pending its investigation into his personal conduct. The company also said it will make the results of the probe publicly available and will disclose the final terms of his departure once resolution is reached. Dunn is accused of using company resources to conduct an improper relationship with a female employee.

QVC announced the promotion of Steve Hofmann to CEO of QVC Europe, reporting to QVC President and CEO Mike George. In the newly created position, Hofmann will oversee QVC's European markets, including the United Kingdom, Germany and Italy, and accelerate growth opportunities throughout Europe. He maintains his current responsibility as CEO of QVC Italy and will continue to be based in Milan. Also announced were the promotions of Gregg Bertoni to chief merchandising officer, QVC Italy, and Paolo Penati to COO and CFO, QVC Italy. 

Approximately 35 people from the SEIU and Teamsters unions and Working Washington were protesting working conditions at Amazon.com's warehouses in Pennsylvania. Two former workers from Pennsylvania warehouses were on hand to share stories of what they said were extremely hot conditions, long hours and an unfair points system for workers. Protesters said Amazon did not respond to complaints and news reports about the working conditions by installing air conditioning and fans, but instead punished workers for getting sick.

About 200 people who want companies to make it easier for people with minor criminal records to get jobs protested at the Minneapolis headquarters of Target Corp. on Wednesday. The protesters were with TakeAction Minnesota. They marched into Target's headquarters urging the retailer to lead the way on changing how companies screen prospective employees. 

Management consulting firm Hay Group reported yesterday that employee turnover levels in the retail industry are on the rise. According to a new survey from Hay Group, an improving job market and solid first-quarter sales are impacting turnover. Retailers report a median turnover rate of 67 percent for part-time store workers, a 33 percent increase over 2011. One in five retailers report that they've experienced more turnover in the first part of 2012. 

Kellwood Company, a leading apparel manufacturer and marketer owned by an affiliate of Sun Capital Partners Inc., today announced the appointment of Jill Granoff as CEO. Granoff brings a vast knowledge of the fashion industry and retailing to the position with over 20 years of brand building and executive leadership experience. As CEO, Granoff will be responsible for the overall growth and direction of Kellwood's diversified portfolio of brands, including Vince, Rebecca Taylor, David Meister, BLK DNM, Zobha, Lamb & Flag, Baby Phat, Phat Farm, Sag Harbor, Briggs NY, Jolt, My Michelle, and XOXO.