WAL-MART WOES: Wal-Mart has pulled the plug on millions in stock options and other benefits for former vice chairman Thomas Coughlin, who was forced off the board in March after an internal investigation uncovered the possible...
WAL-MART WOES: Wal-Mart has pulled the plug on millions in stock options and other benefits for former vice chairman Thomas Coughlin, who was forced off the board in March after an internal investigation uncovered the possible misappropriation of as much as $500,000 in company funds. In a proxy statement, Wal-Mart said it suspended Coughlin’s restricted stock, stock options, incentive payments and some interest payments earned under a deferred compensation plan. The move voids a noncompete agreement Coughlin signed Jan. 22 after his retirement as vice chairman that would have continued his $1.03 million base salary for another two years. He might forfeit 186,407 restricted stock options worth about $9.7 million as well as 302,503 stock options exercisable within 60 days and worth about $14 million. The company’s findings have been referred to federal prosecutors in Arkansas. Spokesman Marty Heires said the company could not comment beyond what was disclosed in the proxy filing.
RODDICK, REEBOK SPLIT: Reebok International said Friday it will not renew its five-year contract with tennis player Andy Roddick as of May 1. Company executives declined to comment, but Dennis Baldwin, Reebok’s chief marketing officer, said in a statement: “After carefully considering what is in the best interest of our business, Reebok has elected not to continue this partnership.” Roddick was the center of the brand’s global marketing campaign last summer, and the company also developed a line of sportswear and accessories with the 22-year-old player. He is featured in the current Reebok marketing campaign based on the theme “I Am What I Am.” Last year, Reebok ended its endorsement of Venus Williams after nearly a decade.
The first retrospective of Dior in the U.S. has landed at the Denver Art Museum — and though the exhibition is a continuation of the 70th-anniversary display that bowed in Paris in 2017, “Christian Dior, Couturier du Rêve,” the DAM show offers an entirely new look at the legacy of the house, and its relationship to the world, writes @leighen .
📸: @jamesfloriophotography #wwdeye
Norwegian musician Anna of the North (a.k.a. Anna Lotterud ) has had a rapid rise in the U.S., thanks to her song “Lovers” which was included in this summer’s Netflix hit “To All The Boys I’ve Loved Before.” Next up, a show at Terminal 5. “I’ve never actually done promo or anything in the U.S. before so it’ll be interesting to see,” she tells @leighen . “Because of the Internet I’ve always had American listeners but never been here [playing music].” 📸: @jilliansollazzo #wwdeye