Mainebiz

V O L . X X I N O. X X V I N OV E M B E R 1 6 , 2 0 1 5 6 Maine plans to eliminate downtown CDBG funds e Maine Department of Economic and Community Development is pro- posing to shift some federal development funding to a law enforcement and crime prevention grant program. Maine Public Broadcasting Network reported that the state department that administers the federal Community Development Block Grant Program plans to elimi- nate the funding for the Downtown Revitalization Grant Program. at pro- gram, which was allocated $400,000 in this year's plan, provides funding to com- munities for downtown revitalization projects including public facilities, infra- structure and housing assistance. DECD Commissioner George Gervais told MPBN that the Safe Neighborhood Program is a higher priority for the department. He said when a commu- nity doesn't have the resources to deal with drug problems, there is a negative impact on it. If additional federal fund- ing becomes available, it could be used for the downtown program, Gervais said. MPBN reported that at a Nov. 4 public hearing on the plan, several community representatives objected to eliminating the downtown revitaliza- tion funding, including Augusta Mayor Dave Rollins. e department plans to issue its fi nal decision on block grant programs before Jan. 1. N O T E W O R T H Y S T A T E W I D E The Maine Technology Institute in Brunswick approved seven grant appli- cations in October totaling $57,795 in awards to entrepreneurs from across Maine to advance new product and process development in aquaculture and marine technology, biotechnol- ogy, composite materials, forestry and agriculture and information technology. Awards included four Tech Start Grants totaling $17,995; two Business Accelerator Grants totaling $35,000; and one Phase 0 Kickstarter Grant totaling $4,800. The U.S. Department of Agriculture awarded Rural Development funds targeted at starting or expanding rural small businesses to Maine Organic Farmers & Gardeners Association, $98,950; Kennebec Valley Council of Governments, $89,000; Northern Maine Development Commission, $62,050; and Aroostook Aspiration Initiative, $25,000. The department also awarded grants to support farm- ers markets, local food producers and helpSNAP (food stamp) recipients take better advantage of fresh food at farmers markets. Recipients included Maine Federation of Farmers' Markets, $348,677; Forq LLC, $100,000; Culti- vating Community, $99,614; Gardiner Food Co-op, $53,955; Blue Sky Pro- duce, $51,630; and Cumberland Coun- ty and Southern Maine Planning and Development Commission, $25,000. WEX names Revlon executive Roberto Simon as CFO South Portland-based WEX Inc. will appoint a new chief fi nancial offi - cer and move its current CFO, Steve Elder, to the newly created position of senior vice president of investor rela- tions. WEX said Nov. 5 that Roberto Simon will be appointed CFO on or B U S I N E S S M A I N E Business news from around the state S T A T E W I D E S O U T H E R N " " " Sometimes You Need to Break the Mold IT Solutions Designed for Your Business Managed Services Cloud/Virtualization Data Management Networking Security IT Consulting n n n n n n www.WGTECH.com 207.856.5300 " Need to Break the Mold L.L.Bean names new president and CEO Outdoors retailer L.L.Bean on Nov. 3 named a new president and CEO, Stephen Smith, who has extensive experience with Walmart, online sales and the retail trade in Asia. Smith most recently served as a merchandising and marketing exec- utive of a Walmart-owned Chinese e-commerce business and is a former executive with the Delhaize Group, the parent company of Hannaford Brothers Co. When he takes over in July, he will also be the first CEO to come from outside the company, replacing Chris McCormick, who plans to retire in February 2016, at the end of the company's fi scal year. McCormick started at L.L.Bean in 1983 as an assistant advertising manager. After a series of promotions, he was named president and CEO in May, taking over from Leon Gorman, who became chairman of L.L.Bean's board. At the time, McCormick was the fi rst non-family member to be CEO. Under McCormick's leadership, L.L.Bean emerged as an industry leader in brand management, customer loyalty and marketing database systems. He launched the company's international business as well as its entry into e-commerce in 1995. McCormick announced in May 2014 that he would step down in 2016 after 15 years of leading the company and 33 years of working there. "We are very pleased with the selection of Steve Smith as our next presi- dent," Shawn Gorman, L.L.Bean's board chairman, said in a statement. "Hiring a CEO who embodies the values of Bean was a top priority for the family and the board, and I am confi dent we have done just that. He has a deep understand- ing of and appreciation for customer needs, and multi-channel retailing, which is well aligned with our approach here at L.L.Bean." L.L. Bean said Smith has an extensive background in the retail industry, experience that spans customer relationship management, strategy, brand development, marketing and merchandising across all channels. He has been chief merchandising and marketing offi cer for Walmart-owned Yihaodian in Shanghai, China, since August, according to his LinkedIn profi le. Prior to that, Smith was senior vice president for Walmart International in the United Kingdom and China, with a primary focus on long-range China strate- gies. He was director of marketing for Hannaford in Scarborough from February 2002 to September 2003. — M a i n e b i z S t a f f P H O T O / C O U R T E S Y L . L . B E A N Stephen Smith, who will become L.L. Bean's president and CEO in 2016.

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