On Friday, Shares of VF Corp (NYSE:VFC), subtract -0.22% and closed at $54.56 in the last trading session. The last trading range of the stock ranges between $54.17 and $55.07. The company’s Market capitalization is $22.58 Billion with the total Outstanding Shares of 414.74 million. The Board of Directors of VF Corporation (VFC), a global leader in branded lifestyle apparel, footwear and accessories, recently declared that President & Chief Operating Officer Steven E. Rendle will become the company’s Chief Executive Officer, effective Jan. 1, 2017. Rendle, 57, will succeed CEO Eric C. Wiseman who will continue to serve as Executive Chairman of VF’s Board of Directors.
As President & CEO, Rendle will have responsibility for VF’s planned direction, successful implementation and achievement of its near- and long-term growth plan, and day-to-day global operations. “Steve is the right person to serve as VF’s next CEO as we begin our 118th year of business,” Wiseman said. “As you’d expect of VF, and with full credit to our Board of Directors, we have a long-standing, rigorous and successful approach to succession planning. We’ve been working since 2008 to identify and prepare the right person to succeed me when the time comes. That time is now.”
As Executive Chairman, Wiseman, 60, will continue to lead the VF Board of Directors and work with Rendle to ensure the transition is successful. “It has been an honor to serve this company for more than 20 years, and a privilege to have been CEO for the past nine years,” Wiseman continued. “We have a powerful business model and an amazing team that’s delivered outstanding long-term results for our shareholders. I’ve known and worked closely with Steve for the last 16 years. Along the way, he has been deeply involved in every aspect of the business, and he’s clearly ready for this role.”
HCP, Inc. (NYSE:HCP), dropped -0.11% and closed at $35.91 in the last trading session. The last trading range of the stock ranges between $35.86 and $36.71. The company’s Market capitalization is $16.95 Billion with the total Outstanding Shares of 467.58 million. During the 52-week trading session the minimum price at which share price traded, registered at $25.11 and reached to max level of $40.43. HCP (HCP) recently declared that its wholly owned partner, Quality Care Properties, Inc. (“QCP”), has priced an offering of $750 million in aggregate principal amount of 8.125% Senior Secured Second Lien Notes due 2023 (the “Notes”). The Notes will be issued by wholly owned auxiliaries of QCP, and will be guaranteed by QCP and certain of its other auxiliaries. The offering of the Notes is expected to close on or about October 17, 2016, subject to certain closing conditions. In addition to the Notes, HCP also declared that QCP has agreed to terms on a $1.0 billion in aggregate principal amount first lien six-year term loan at LIBOR (subject to a 1% floor) plus 5.25%, and a $100 million first lien five-year revolving credit facility at LIBOR plus 5.25%.
The offering of the Notes is being made, and the term loan is being reached, in connection with the planned spin-off of QCP to HCP stockholders, which is expected to be accomplished in the fourth quarter of 2016, subject to certain conditions, counting the effectiveness of QCP’s Registration Statement on Form 10. The proceeds from the Notes offering will be placed into escrow until the satisfaction of certain escrow release conditions, counting completion of the spin-off. QCP will use the net proceeds from the offering and the term loan to pay the cash portion of the consideration for properties and assets that it will receive from HCP before the spin-off. HCP will use such funds to repay indebtedness and for general corporate purposes.
On the otherhand Sabre Corp (NASDAQ:SABR), dropped -2.19% and closed at $26.75 in the last trading session. The last trading range of the stock ranges between $25.58 and $27.46. During the 52-week trading session the minimum price at which share price traded, registered at $22.03 and reached to max level of $30.45. Forty-seven years after man first landed on the moon, there is finally a single mobile technology platform that allows space travelers and business travelers alike to self-manage in-transit booking, payments, expense reporting, safety and security matters, with the launch of the new Traveler Experience platform.
While the majority of business travelers want to manage their trips using technology, recently they must rely on several different mobile apps to navigate the whole journey. According to a recent survey, The Digital Business Traveler, published by Sabre Corporation and the GBTA Foundation, 77 percent of business travelers in North America prefer using self-service technology to manage their travel but on average they use nine different apps to manage their business travel with the most popular apps being airline, hotel, booking, car and restaurant apps.