Briefs: REI set to open two new stores

SEATTLE -- Recreational Equipment Inc., a national retail cooperative of outdoor gear and clothing, said Wednesday it plans to open new stores in Schaumburg and Lincoln Park. The locations will double REI's presence in the Chicago area by 2008. In Schaumburg, REI has begun renovation on the former Tower Records site in Woodfield Commons for an opening in November. The 26,000-square-foot store will include a bike shop and seasonal rentals.

Retiring Kraft CFO to aid successor

NORTHFIELD -- Kraft Foods Inc. said Wednesday that its chief financial officer, James Dollive, will retire this fall after nearly three decades with the world's No. 2 food maker. Timothy McLevish, 52, the CFO for industrial equipment manufacturer Ingersoll-Rand Co., will assume the post Oct. 1. Dollive, who joined Kraft in 1978, was appointed CFO in 2001. He'll work with McLevish during the transition, the company said. No specific retirement date for Dollive is set.