Five More Executives Leave Kmart
TROY, Mich. - Five more executives have left Kmart Corp., but officials aren't saying if they resigned or were fired, The Associated Press reports.
Kmart chairman and CEO James Adamson announced in a memo on Tuesday that David Rots, executive vice president and chief administrative officer; and Tony D'Onofrio, executive vice president and chief supply chain officer, have left the company. D'Onofrio's responsibilities are being handled by two other executive vice presidents and a senior vice president, according to the AP.
On Wednesday the Detroit Free Press reported that senior vice presidents David Montoya, John Owen and Leo Anguiano have also left the retailer.
A Kmart spokesman said there was no further information about the departures, the latest since the Troy-based retailer filed for Chapter 11 bankruptcy protection on Jan. 22. Replacements had not been named.
"I am confident that these changes are a step in the right direction as we get back to the basics of our business and steer the company toward successful emergence from Chapter 11 bankruptcy," Adamson said in a company memo.
Only two of 10 executive management team members have held their positions with Kmart for longer than a year, the AP reports. Most of the leadership, including Adamson and president and chief operating officer Julian Day, have held their positions for less than three months.
Former Kmart chairman and CEO Chuck Conaway resigned on March 9. Adamson has been a member of Kmart's board since 1996. He was named chairman on Jan. 17 and CEO on March 11.
Kmart chairman and CEO James Adamson announced in a memo on Tuesday that David Rots, executive vice president and chief administrative officer; and Tony D'Onofrio, executive vice president and chief supply chain officer, have left the company. D'Onofrio's responsibilities are being handled by two other executive vice presidents and a senior vice president, according to the AP.
On Wednesday the Detroit Free Press reported that senior vice presidents David Montoya, John Owen and Leo Anguiano have also left the retailer.
A Kmart spokesman said there was no further information about the departures, the latest since the Troy-based retailer filed for Chapter 11 bankruptcy protection on Jan. 22. Replacements had not been named.
"I am confident that these changes are a step in the right direction as we get back to the basics of our business and steer the company toward successful emergence from Chapter 11 bankruptcy," Adamson said in a company memo.
Only two of 10 executive management team members have held their positions with Kmart for longer than a year, the AP reports. Most of the leadership, including Adamson and president and chief operating officer Julian Day, have held their positions for less than three months.
Former Kmart chairman and CEO Chuck Conaway resigned on March 9. Adamson has been a member of Kmart's board since 1996. He was named chairman on Jan. 17 and CEO on March 11.