Kevin Carter will succeed Nick Watts as head of European investment consulting at Watson Wyatt on July 1, said Paul Deane-Williams, senior consultant and spokesman. Mr. Carter is currently senior investment consultant and a partner with Watson Wyatt. He will keep his clients, and the firm isn't searching for a replacement. Mr. Watts, who will go on sabbatical in October, is gradually shifting his responsibilities to Mr. Carter, said Mr. Deane-Williams. Mr. Watts expects to return to Watson Wyatt in early 2006 and will likely work with pension funds and other institutional clients, but not on the managerial side, Mr. Deane-Williams said, noting that sabbaticals are common at the firm and are available to employees with 10 years' tenure.
Thomas Stemberg was hired by venture capital firm Highland Capital Partners as a venture partner to help identify new entrepreneurial investment opportunities and assist Highland's portfolio companies, according to a news release. Mr. Stemberg is founder and former CEO of Staples Inc.; he stepped down as CEO in 2002 and became Staples' board chairman, and is scheduled to step down as chairman by the end of the year. Mr. Stemberg was a venture investor in and director of Petsmart Inc. and also founded ZOOTS, a dry cleaning company, and Olly Shoes, a children's shoe retailer. He is also on the board of the Nasdaq Stock Market.