True Value CEO John Hartmann will depart next month but remain on the board, with Chief Commercial Officer Chris Kempa becoming CEO less than six months after joining the company. Chief Financial Officer Deb O'Connor will add the title of president.
Like grocers nationwide, Hy-Vee has been on the front lines of the pandemic since day one, learning valuable lessons that CEO Randy Edeker says will offer opportunities once the outbreak eases and a new normal is established. In this interview, Edeker discusses the efforts of Hy-Vee's front-line workers, the grocer's safety initiatives, how it's handled the e-commerce boom and what it looks for in the future.
Distributors reporting earnings on Tuesday included PolyOne, which made $32.8 million in first-quarter profit on revenue of $711.5 million. Mueller Industries also reported earnings for the quarter, with $32.4 million in net income on $602.9 million in revenue.
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Blockchain and location intelligence can help with identifying and reacting to supply chain risks, write Michael Ferrari and Raghu Iyengar of the Wharton School. That said, "these tools cannot be utilized in isolation, and only serve as part of the puzzle with respect to the global commercial ecosystem," they write.
VMware Carbon Black has measured a 148% month-over-month increase in ransomware attacks against corporations in March, as the coronavirus pandemic led to more people working remotely. "There is a digitally historic event occurring in the background of this pandemic, and that is there is a cybercrime pandemic that is occurring," VMware's Tom Kellermann said.
Businesses are in the midst of a "generation-defining event" that will result in new, long-lasting consumer behaviors and require marketers to be pragmatic and strategic, write McKinsey executives. They take a deep dive into changing consumer spending and media consumption, offer a playbook with four viable actions, and detail the need for updated models, approaches and tools to be poised for a turnaround.
Leading and communicating effectively through the coronavirus pandemic requires contributions from staff, managers and the CEO, with regular updates required as conditions change, writes Joel Garfinkle, who offers nine steps for companies to take. "Having a hierarchical list of key priorities will help staff know what to focus on, adapting as needed, especially if current roles fluctuate," he writes.
Did you miss the April 9 webinar with Alan Beaulieu: "Distribution Industry: Navigating the Crisis," where he provided a short-, mid- and long-term financial outlook for wholesale distribution along with other leading economic indicators? The webinar recording and slide deck are available for purchase for only a few more days. Order here.
NAW shares thought leadership each week in the NAW Blog "Distributing Ideas." NAW Institute for Distribution Excellence Fellows, authors and guest bloggers discuss today's critical issues specific to wholesale distribution. Catch up on blog posts here. Better yet, subscribe here and we'll deliver a new post each week straight to your inbox.