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BENTONVILLE, Ark. — Walmart's board of directors has approved a new program authorizing the company to repurchase $15 billion of its shares, the company announced at its 41st annual meeting of shareholders Friday.

This program replaces the previous $15 billion program, announced on June 4, 2010, that had approximately $2 billion of remaining authorization. Under the program, repurchased shares are retired constructively and returned to unissued status.

PHILADELPHIA and BLOOMFIELD, Conn. — Global health services company Cigna has hired former Alberto Culver executive Ralph Nicoletti to serve as EVP and CFO, effective June 20.

Nicoletti assumes executive leadership responsibility for all of Cigna's financial operations and functions, as well as for Cigna's investment management and strategic planning units. He will be based in Bloomfield, Conn.

LOS ANGELES — Kroger banners Ralphs and Food 4 Less have commenced their Honoring Our Heroes fundraising campaign to benefit the United Service Organizations.

The checkstand fundraising, which will run through Aug. 13, is in conjunction with the USO's 70th anniversary.

All monies collected through the Ralphs/Food 4 Less Honoring Our Heroes fundraising program will be donated directly to the USO to support its programs, entertainment and other services for our service men and women.

NEW YORK — Tara Harding, SDI senior director of sales operations, was honored as an industry rising star by the Healthcare Businesswomen’s Association during its 2011 Woman of the Year award luncheon Thursday.

ISSAQUAH, Wash. — Wholesaler Costco on Tuesday said its board of directors has approved a $4 billion share buyback program. The company also raised its quarterly dividend by 17% to 24 cents, up from 20.5 cents.

The share buyback program expires in April 2015 and replaces a previous plan set to expire in July, which had $800 million remaining, the company said.

HOUSTON — Beginning April 13, Kroger customers in the Greater Houston area will be able to save up to $1 per gallon at 68 Kroger Fuel Centers through the grocer's new fuel accumulation program.

Kroger's latest gas savings initiative will allow shoppers to redeem up to 1,000 fuel points, which are earned through everyday grocery, prescription and gift card purchases using the Kroger Plus card, during a single fill-up.

FRISCO, Texas — Specialty pharmacy provider Assured Pharmacy will reduce its stock through a reverse stock split, the company said Thursday.

The company, which trades on the pink sheets but seeks to eventually be listed on a larger exchange, announced that it had filed an amendment to its articles of incorporation whereby it would convert every 180 shares of stock to a single stock, reducing the total number of shares of outstanding common stock from 416,200,000 to 2,321,222, while reducing authorized shares of common stock from 3 billion to 16,666,667.

MINNEAPOLIS — Target's March sales dropped 4.5% to $5.95 billion, compared with the year-ago period.

The retailer also disclosed that comparable-store sales for the five weeks dropped 5.5%, which was in line with expectations, as they reflected the later timing of the Easter holiday, according to the company's chairman, president and CEO, Gregg Steinhafel.

"Our stores are well-prepared for the upcoming Easter season, and we continue to expect a mid-teens increase in Target's April comparable-store sales," Steinhafel noted.

PEAPACK, N.J. — Pfizer will sell its Capsugel business to Kohlberg Kravis Roberts & Co. for nearly $2.4 billion, the drug maker said Monday.

Capsugel, which develops hard capsules and drug-delivery systems, generated about $750 million in sales last year. The company will maintain its New Jersey headquarters after the sale is complete.

STEVENSON, Md. — The law firm of Brower Piven on Tuesday announced that a class action lawsuit has commenced in the Delaware Chancery Court on behalf of all shareholders of Drugstore.com, alleging violations of state law by the company’s board of directors relating to the proposed acquisition by Walgreens.

The complaint alleged that Drugstore.com's board of directors breached their fiduciary duties by failing to maximize shareholder value, among other things.

WASHINGTON — One could say that a job with the Food and Drug Administration would be the perfect way to get information about upcoming drug approvals and use it to profit handsomely from buying stock in the companies that manufacture the drugs before the information reaches the public.

Of course, the Securities and Exchange Commission would consider that illegal insider trading, as one FDA scientist recently discovered.

PLEASANTON, Calif. — The former chairman and CEO of Dreyer's Grand Ice Cream has joined Safeway's board of directors.

The appointment of T. Gary Rogers will expand the retailer's board of directors from nine to 10 members.

"Gary's vast experience as a supplier to the grocery industry, his business acumen and experience as a director will be great assets to the board," said Steve Burd, Safeway chairman, president and CEO. "We are pleased he is joining our board."