OfficeMax suspends its quarterly dividends
OfficeMax Inc., the Naperville-based office supply store chain, has suspended its quarterly cash dividends, due to the impact of the weak economy, the company said Thursday. The move is expected to save the company about $45 million a year.

Fortune Brands CEO to retire
Deerfield-based Fortune Brands Inc. Thursday announced Rich Forbes, president and chief executive officer of its Home & Hardware business, plans to retire at the end of 2009. Also, effective April 1, Christopher J.
Klein, currently senior vice president ­ strategy and corporate development of Fortune Brands, will become president and chief operating officer ­ home products, and report to Forbes. The company¹s Moen, MasterBrand Cabinets, Therma-Tru and Simonton operations will report to Klein. John Heppner, president of the security and storage operations comprised of Master Lock and Waterloo, will continue reporting to Forbes. The company is looking for Klein¹s successor.

Sara Lee CEO to retire
L.M. (Theo) de Kool, executive vice president and chief financial officer at Sara Lee Corp., the Downers Grove-headquartered food and beverage giant, will retire at the end of the current fiscal year in June 2009, the company said Thursday. Sara Lee has launched a search to replace de Kool. de Kool began working at Sara Lee in 1990, serving as vice president of finance for the Household and Personal Care division of Sara Lee/DE N.V., a Dutch subsidiary of Sara Lee. In 1995, he was named chief financial officer and a member of the board of management of Sara Lee/DE, and was made vice president of Sara Lee Corporation in 1996. He became an executive vice president and chief financial officer of Sara Lee in January 2002 and has held his current position since February 2005.

Source: Stores.org