4 sponsors drop Lochte after RioLess than 24 hours after the close of the Rio Olympics, Ryan Lochte took a major financial hit Monday for a drunken incident he initially tried to pass off as an armed robbery.In quick succession, four sponsors announced they were dumping the swimmer, who has since apologized and conceded that he embellished what happened during a now-infamous stop at a Rio gas station.Swimsuit company Speedo USA, clothing giant Ralph Lauren and skin-care firm Syneron-Candela issued statements less than three hours apart, all with the same message: Lochte is out. Before the day was done, Japanese mattress maker Airweave followed suit.

Office Depot CEO will retire next yearNEW YORK — Office Depot CEO Roland Smith will retire next year after a replacement is found.The office supplies retailer also said Monday that it is reorganizing its executive committee to bring its retail store, e-commerce and marketing operations together.Troy Rice, who is currently executive vice president, was named to the newly-created position of chief operating officer.