Regional News

Arkansas business titan announces retirement as company CEO

Published

3 days ago

January 7, 2025

LITTLE ROCK – Warren Stephens, a towering figure in American finance and recently nominated by former President Donald Trump as the United States Ambassador to the United Kingdom, is stepping down as President and CEO of Stephens Inc. after nearly 40 years at the helm. Effective January 7, 2025, his sons, Miles Stephens and John Stephens, will assume the roles of Co-Chief Executive Officers, marking the third generation of family leadership for the 91-year-old financial services firm. Warren Stephens will retain the title of Chairman.

Under Warren Stephens’ leadership, Stephens Inc. expanded into a global financial powerhouse, offering investment banking, wealth management, insurance, and asset management services across the United States and Europe. His tenure is credited with driving the firm’s growth while maintaining the family-owned and relationship-focused ethos established by his uncle Witt and father Jackson T. Stephens.

Reflecting on his career, Warren Stephens said, “Leading Stephens Inc. has been one of the greatest honors of my life. I am immensely proud of what we have accomplished and am confident that Miles and John will carry forward our vision for the firm. With Laura also in a key leadership role, I know the future of Stephens Inc. is in excellent hands.”

The leadership transition underscores Warren Stephens’ commitment to family legacy. His daughter, Laura Brookshire, has been named Senior Executive Vice President and Chair of the Executive Committee. Alongside her brothers and a seasoned C-Suite team, she will play a pivotal role in shaping the firm’s continued growth and strategy.

Miles and John Stephens bring more than two decades of experience at Stephens Inc. to their new roles. Miles has served as President and CEO of Stephens Insurance since 2019, where he enhanced the division’s expertise and market presence. John, a managing director in investment banking, has been instrumental in expanding the Family Advisory Services Group and deepening the firm’s network of family offices.

“From an early age, my siblings and I have witnessed our father’s unwavering dedication to the business,” said Miles Stephens. “It’s an incredible opportunity to build on his legacy and lead Stephens Inc. into its next chapter.”

John Stephens added, “Working alongside our father has been a privilege. With the support of Laura and our executive team, we are focused on continuing Stephens Inc.’s tradition of excellence and growth.”

Laura Brookshire, who oversees marketing and corporate reputation initiatives, expressed her pride in the family’s legacy and her father’s achievements. “My father’s leadership has been transformative, and I’m honored to work alongside my brothers to ensure Stephens Inc. thrives for generations to come.”

The Stephens Executive Committee, comprised of Laura Brookshire, Brad Eichler, Mark Doramus, and Doug Martin, will support the transition and guide the firm’s strategic direction. Collectively, they bring more than 100 years of experience at Stephens Inc.

This generational transition marks a new chapter for Stephens Inc., a firm rooted in family values and long-term vision, as it continues its legacy of leadership in the financial services industry.

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Regional News

Major retailer closing stores nationwide including Arkansas location

Published

43 minutes ago

January 10, 2025

Grant Merrill

LITTLE ROCK – Kohl’s announced it will close its Little Rock West location at 13909 Chenal Parkway by April 2025 as part of a broader plan to shutter 27 underperforming stores across the country.

The closures, revealed Tuesday, come as the retailer continues to optimize its real estate portfolio to support its long-term growth strategy. Alongside the store closures, Kohl’s will also wind down operations at its San Bernardino, California, E-commerce Fulfillment Center in May 2025 when its lease expires.

Kohl’s CEO Tom Kingsbury acknowledged the challenges of such decisions while emphasizing the company’s focus on strengthening its overall business. “As we continue to build on our long-term growth strategy, it is important that we also take difficult but necessary actions to support the health and future of our business for our customers and our teams,” Kingsbury said in a statement.

The Little Rock West location has served the community for several years, but it will join other underperforming locations on the closure list. Despite these changes, Kohl’s reaffirmed its commitment to its remaining store network, which includes more than 1,150 locations nationwide.

Store associates impacted by the closures will be offered severance packages or the opportunity to apply for open roles within the company. Kohl’s stated it is working to support employees during the transition.

For customers, Kohl’s stores and online platforms will remain open for shopping, and the retailer will continue its focus on maintaining a profitable and vibrant store base.

Regional News

BEFORE AND AFTER PHOTOS: Just how much snow have we gotten?

Published

2 hours ago

January 10, 2025

Grant Merrill

EL DORADO – There were a lot of predictions that came true from the weather professionals around the state, and a few that didn’t. Our staff at SouthArkansasNow.Com took a few random locations around Southwest Arkansas that we had access to through the traffic cameras at IDriveArkansas.Com and showed you pictures from 11:00 AM on Wednesday to 11:00 AM on Friday. Here are a few of the changes (or lack thereof) from around the area in forty-eight hours

Hot Springs

Hot Springs National Park is definitely an area that changed overnight. According to reports in the area, areas around Lake Ouachita received eleven inches of snow overnight. This picture is taken from Exit 2 on the Hot Springs Bypass, intersecting with US Highway 70.

Wednesday 11:00 AM

Friday 11:00 AM

Social Hill (Interstate 30 and State Highway 84, Exit 91)

Let’s be honest, I-30 from Little Rock to Texarkana can come to a complete standstill when a group of chickens cross the road. But all things considered, traffic seems to be flowing okay at the Social Hill exit between Malvern and Arkadelphia.

Wednesday 11:00 AM

Friday 11:00 AM

Gilliam (Sevier County, U.S. Highway 71)

Southwest Arkansas was set to receive some of the biggest snowfall amounts in the state, and boy did they ever! According to the National Weather Service, Mena had received fourteen inches by 8:00 AM on Friday, with more on the way! This ARDOT traffic camera is located along Highway 71 at Gilliam, just north of DeQueen.

Wednesday 11:00 AM

Friday 11:00 AM

Texarkana (Interstate 30 and State Line Avenue)

The winter weather event in Texarkana may just be what is known as a bust. Not much change in two days.

Wednesday 11:00 AM

Friday 11:00 AM

El Dorado (Highway 82 and Highway 167)

As we reported early Friday, Union and Columbia Counties had more of an ice event than anything, resulting in a loss of power for thousands. The before and after pictures don’t show a whole lot of difference, but that doesn’t mean it hasn’t been cold and slick on those South Arkansas roads.

Wednesday 11:00 AM

Friday 11:00 AM

News

Closings and Cancellations (January 10th)

Published

11 hours ago

January 10, 2025

Staff Reports

10:30 PM UPDATE

Statewide

All Arkansas state government offices are closed Thursday and Friday.

El Dorado

The El Dorado School District will dismiss classes early at 1:00 p.m. on Thursday, January 9, and will be closed on Friday, January 10th. The district urges everyone to prioritize safety during the anticipated weather conditions.

The Boys and Girls Club of Union County will be closed on Thursday.

Westside Christian School

Westside Christian School will dismiss classes early at 1:00 p.m. on Thursday, January 9, and will be closed on Friday, January 10th.

Bravo Dance Centre

All classes for the remainder of the week have been cancelled. Classes will resume on Monday, January 13th.

Camden Fairview

The Camden Fairview School District has announced that all classes will be canceled on Thursday, January 9, and Friday, January 10, due to expected severe weather conditions. The decision was made to prioritize safety, with concerns about hazardous road conditions during afternoon dismissals.

All district events scheduled for Thursday, Friday, and Saturday have also been canceled. Updates regarding rescheduled events are already being shared, including the following:

Basketball games originally scheduled for January 9 and 10 will now take place at the CFHS Gym on Tuesday, January 21, with start times to be announced.
The Ivory Intermediate Spelling Bee will now be held on Wednesday, January 15, with 5th grade at 8:20 AM and 4th grade at 9:30 AM.

Thanks to five built-in inclement weather days in the school calendar, students will not need to make up the missed days. The district will continue to monitor conditions and provide updates.

CFSD employees are advised to check their work emails for updates. The district encourages everyone to stay safe and warm.

Parkers Chapel

The Parkers Chapel School District will dismiss early at 1:00 p.m. on Thursday, January 9, due to anticipated weather conditions. Schools will remain closed on Friday, January 10.

Smackover

The Smackover-Norphlet School District will dismiss classes early at 1:00 p.m. on Thursday, January 9, due to forecasted inclement weather and potentially hazardous road conditions. Buses will begin lining up at 12:30 p.m., and all after-school preschool classes are canceled.

Classes and all extracurricular activities are also canceled for Friday, January 10. The basketball game against Centerpoint has been rescheduled for Monday, January 13. District officials emphasized that the safety of students, staff, and the community remains their top priority.

Magnolia

The Magnolia School District will dismiss classes early at 1:00 p.m. on Thursday, January 9, 2025, due to anticipated inclement weather. While officials believe it is unlikely schools will be open on Friday, a final decision will be made after assessing actual weather conditions. The district will continue to monitor updates and communicate any changes.

Hampton

Due to the threat of inclement weather Hampton Schools will be closed Thursday, January 9, 2025. The decision was made for the safety and the best educational outcomes for students and staff.