This Week
  • Allen Rossignol launched Edge Architecture in 2002 and has guided its growing prominence.

  • LaBella to acquire Gardner Plus Architects to boost health care design area.

  • Brett Farrow stayed true to his interests in law, medicine and business.

  • With two strikes against it, Century Mold Co. Inc. managed to hit a home run twice.

  • More precise diagnoses are now possible though advances in personalized medicine.

  • The Senior Living and Long-Term Care Services Directory provides a wealth of information.

Monro adds board member, accelerates dividend

Rochester Business Journal
December 4, 2012

Monro Muffler Brake Inc. has appointed a former Bausch & Lomb Inc. executive to its board of directors.

Stephen McCluski, who was senior vice president and chief financial officer for Bausch & Lomb from 1995 until his retirement in 2007, also will serve on Monro’s audit committee.

Separately, Monro announced plans to accelerate the record and payment date of its 10-cent per share fourth-quarter dividend to be paid out together with the third-quarter dividend. The combined dividend of 20 cents a share will be payable on Dec. 12 to shareholders of record as of Dec. 11.

“Given our strong balance sheet, and the likelihood of a change in the tax rates on dividends beginning next year that will subject a significant part of the company's U.S. shareholder base to increased dividend taxation for 2013, we believe it is prudent to accelerate the timing of the payment of our fourth-quarter dividend to our shareholders into calendar year 2012," Executive Chairman Robert Gross said in a statement.

McCluski serves as chairman of PACS Industries Inc. and ImmunoGen Inc. (Nasdaq: IMGN).  He also serves on the board of American Aerogel Corp. and Lasermax Inc. He serves as an operating director of DeltaPoint Capital Management LLC, a private-equity group.

“Steve brings to our board a wealth of financial experience and is a true leader with a proven track record of success,” Gross said. “His leadership ability and expertise will be invaluable in guiding our company as we continue to execute on our long-term strategy and capitalize on the opportunities we see in the marketplace.”

Shares of company stock (Nasdaq: MNRO) were down 22 cents, or less than 1 percent, at $31.70 in midday trading.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail

What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment


Not registered? Sign up now!

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google