Heinz appoints executives
PITTSBURGH – Ketchup maker H.J. Heinz Co., which was taken private by Warren Buffett’s Berkshire Hathaway and 3G Capital earlier this month for $23.3 billion, has made several senior executive appointments.
On June 7 Bernardo Hees was named Heinz’s new CEO. Hees took over from William Johnson, who received a golden parachute of $56 million, in addition to the $156.7 million in vested stock and deferred compensation he accrued over his career. Paul Basilio was also named chief financial officer of Heinz at that time.
On Thursday Heinz filled several regional posts. This includes naming Brendan Foley as zone president of Heinz North America and Emin Mammadov as zone president of Heinz Russia, Turkey, the Middle East and Africa. Fernando Pocaterra was appointed zone president of Heinz Latin America, while Hein Schumacher will serve as zone president of Heinz Asia Pacific. Matt Hill was named zone president of Heinz Europe.
Rite Aid reports quarterly profit
Rite Aid Corp. notched its third-straight quarterly profit, as generic drugs and expense reductions continued to help the nation’s third largest drugstore chain.
But the company also said Thursday that it lowered its fiscal 2014 earnings forecast to reflect a debt refinancing, and investors who have sent the stock soaring over the past few months to prices it hasn’t seen in years pressed sell buttons.
Rite Aid shares slipped
23 cents, or 7.4 percent, to $2.88.
Heinz appoints executives
Data breach hits Target's profits, but that's only the tip of the iceberg
In its first financial release since the December breach that enabled the theft of millions of customers' payment data, Target said profits fell 46 percent and that the breach had already cost the retailer $17 million. The final tally will be bigger, the company said, but it's unclear by how much.
United to offer Erie-to-Chicago flights by June 5
United Airlines is replacing round-trip service between Erie International Airport and Cleveland with flights to and from Chicago’s O’Hare International Airport.
Mining industry major source of employment
The Pennsylvania Coal Alliance says that the state’s mining industry constitutes a major source of employment and tax revenue.
Fuel prices affect many
Everyone wants to see lower gasoline and diesel fuel, said area businesses that rely heavily on fuel.
Be it by highway, rail or air, the Cambria-Somerset region continues to depend heavily on transportation as the push is on to improve the economic picture moving people and things in and out.
Limousines and other specialty vehicles bring special attention to your arrival at joyful occasions such as weddings and are gaining in popularity, said area transportation companies.
VIDEO | Café opens in downtown Johnstown
Flood City Café regulars might occasionally receive a CD from a smiling barista who overheard them mentioning a favorite band during a previous visit.
BUSINESS BRIEFS | CTC robotic system honored
A locally developed robotic system used to remove paint and other coatings from aircraft has earned honors for innovation.
BUSINESS BRIEFS | Small-business webinars offered
The federal Small Business Adminstration is conducting programs to help small businesses and aspiring business owners.
Pa. hospital agrees to for-profit buyout
A western Pennsylvania health system has agreed to be sold to a for-profit Tennessee conglomerate that owns, leases or operates 206 other hospitals in 29 states.
- More Business Headlines
- Data breach hits Target's profits, but that's only the tip of the iceberg