Shake-up at GNC
GNC Holdings’ CEO of nine years, Joe Fortunato, was jettisoned last week and immediately replaced by senior retail industry executive Michael Archbold, who comes to GNC by way of women’s apparel clothier Talbots and, before that, GNC competitor The Vitamin Shoppe. The Tuesday announcement came just a few weeks after GNC’s longtime chief financial officer, Michael Nuzzo, left to become chief administrative officer and executive vice president at 4Moms, a Strip District company that develops and manufactures high-tech baby gear.
The PG’s Steve Twedt reported the personnel swap was a surprise move: “Just a few weeks ago, there were no outward signs that Mr. Fortunato’s position might be in jeopardy. The yearly stockholder's meeting in May at the Omni William Penn, Downtown, proceeded smoothly with no questions raised about the falling stock.”
At close of business Friday, GNC’s stock price was at $32.67, down 8 cents.
Two helpings ...
… of Chinese food, both served up by the PG’s Patricia Sabatini. First comes news from Downtown, where the Chinatown Inn was cited for attempting to hide the yellow Consumer Alert decal that was prominently posted on the restaurant’s front window last month. The Allegheny County Health Department discovered the cover-up — the warning decal was obscured by potted plants —and fined the restaurant $800. Chinatown Inn, a fixture on Third Avenue and popular with the lunchtime crowd, was hit with the consumer alert July 24 after an inspection turned up 13 critical health code violations, including a fruit fly infestation.
Further west (the Parkway West, that is) the P.F. Chang’s at the Settlers Ridge shopping development in Robinson was one of 33 P.F. Chang’s locations nationwide where a security breach at the restaurant chain may have compromised customers’ credit and debit card accounts. Customers who used their cards there between April 10 and June 11 could be affected, the company says.
In case you missed it ...
… visit www.post-gazette.com/business/ for the latest on two major redevelopment proposals — one that would convert the August Wilson Center for African American Culture into a hotel, and one that would convert the Strip District’s iconic produce terminal into some mix of commercial, retail and residential units.
Quote of the week
“Obviously, it's disappointing that Chevron wasn't doing a better job of watching what was going on at their own well.”
— John Gismondi, a Pittsburgh attorney representing the parents of gas field service technician Ian McKee, who died in February after an explosion and fire on a Marcellus Shale well site in Greene County, operated by Chevron Corp. A report issued last week said “human error by an inexperienced natural gas well worker” likely led to the explosion; a Cameron International Corp. contractor (called a “greenhat” because of his inexperience) was neither properly supervised nor trained when he was directed to loosen equipment on the wellhead in the process of bringing it into production.
Samsung still tops
Samsung is still the leader in the U.S. smartphone market, according to second-quarter shipping data from Counterpoint Research. From April through June, Samsung accounted for 36.1 percent of U.S. smartphone shipments, besting Apple’s 29.7 percent and LG’s 11 percent.
Bill Toland at email@example.com or 412-263-2625.