TIRES

Goodyear names

new executives

The Goodyear Tire & Rubber Co. has named a new general counsel and secretary.

The Akron-based company announced the appointments Tuesday.

David E. Phillips, associate general counsel, Americas, will become senior vice president and general counsel, effective June 4. He will replace David L. Bialosky, senior vice president, general counsel and secretary, who is retiring after a decade of service. Bialosky will remain with the company as an officer through his retirement date of Sept. 30 to assist with the transition.

Phillips joined Goodyear in 2011 as senior legal counsel, real estate and finance. He has served in a leadership role on numerous key initiatives for the company, including launching TireHub, its distribution joint venture.

The company also announced that Dan Young, senior legal counsel and assistant secretary, will become secretary and associate general counsel. He joined Goodyear in 2007 and since then has provided legal counsel on securities law, finance, corporate governance and executive compensation matters, as well as support for the board of directors.

 

WALGREENS

Stores to hike age

for tobacco sales

Walgreens has decided to raise its minimum age for tobacco sales several weeks after a top federal official chastised the drugstore chain for violating laws restricting access to cigarettes and other tobacco products.

Deerfield, Ill.-based Walgreens Boots Alliance Inc. said Tuesday that it will require customers to be at least 21 years old to purchase tobacco in any of its more than 9,500 stores nationwide. The policy starts Sept. 1.

Former Food and Drug Administration Commissioner Dr. Scott Gottlieb said in March that Walgreens was a top violator of tobacco sales laws among pharmacies that sell those products. Rival CVS Health Corp. stopped sales in 2014.

 

STOCK MARKET

S&P 500, Nasdaq

close at record highs

The S&P 500 closed at an all-time high Tuesday, marking the stock market's recovery from a nosedive at the end of last year.

The benchmark index's previous record was set last September, shortly before the market sank in the fourth quarter amid fears of a recession, an escalating trade war between the U.S. and China, and concern the Federal Reserve was moving too aggressively to raise interest rates. Those concerns have eased or taken a back seat to more optimism among investors.

 

RETAIL

Amazon, Kohl's

partner up

Kohl's wants you to skip the post office and bring Amazon returns to its stores.

The department store chain said Tuesday that it will accept Amazon returns at all of its 1,150 stores starting in July.

Kohl's sees the partnership as a way to get people in its doors and maybe get them to buy while they're there. As for Amazon, it makes returns easier for its shoppers, who can drop off items at the stores without needing to pack them up.

Kohl's Corp. shares soared nearly 12% after the announcement.