NIKE JET SCARE: A Nike-owned corporate jet carrying chief executive officer William Perez and two other senior executives of the world’s largest athletic shoe and apparel firm made a safe emergency landing on Monday after developing landing gear problems following takeoff from Hillsboro (Ore.) Airport, near Portland. Three crew members and a fourth Nike employee were also on board. The Gulfstream V jet, which was bound for Toronto, circled for five hours to burn off fuel when the right landing gear became stuck, the Associated Press reported. The landing gear eventually became unstuck when the crew consulted with Gulfstream and landed at Hillsboro at 12:11 p.m. PST. Perez was named last Nov. 18 to succeed company co-founder Phil Knight as ceo. He had spent 34 years with S.C. Johnson & Son Inc., the privately held manufacturer of household products. Nike is based in Portland.
DUANE READE CEO DEPARTS: Anthony Cuti has been replaced as Duane Reade’s chief executive officer. Richard W. Dreiling, executive vice president and chief operating officer of Longs Drug Stores Corp., will assume the responsibilities of ceo effective immediately. Cuti had served at the chain for nine years, during which time Duane Reade grew from 59 units to the largest drugstore chain in the New York metro area with 249 stores. Prior to Duane Reade, Cuti was president of Supermarkets General and Pathmark. Duane Reade, which was acquired by Oak Hill Capital Partners in July 2004, posted third-quarter sales ended Sept. 24 of $378.6 million, compared with $380.4 million in the previous year-ago period. It had a net loss of $15.7 million, compared with a loss of $39 million. Same-store sales grew 2.1 percent; pharmacy sales inched up 0.3 percent, while front-end sales grew 3.7 percent. Cuti had said third-quarter front-end sales performance was a result of new marketing efforts driving store visits.