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Kmart Appoints Top Sourcing Executive, Says Day Will Oversee Food & Consumables

TROY, Mich. - Kmart Corporation today announced the appointment of William D. Underwood as executive vice president, Kmart sourcing and global operations, effective immediately. The appointment is part of a reorganization of Kmart?s merchandising operations.

"As we continue to focus on strengthening Kmart's financial and operating performance, it is important that we take a hard look at all aspects of our business and the leadership driving it. We are very pleased to announce that Bill Underwood is returning to the company to assume a key position in the organization. We are truly fortunate to be able to tap into his extensive knowledge of Kmart's operations and many contacts in the vendor and sourcing communities worldwide," Kmart chairman and CEO James B. Adamson said.

Underwood, 61, will have responsibility for Kmart's sourcing operations worldwide, including product specification and quality assurance, and vendor relations. He will report directly to Adamson.

In the interim, Underwood is also assigned responsibility for the entire Kmart merchandising function, with the exception of food and consumables. Julian C. Day will begin to oversee the food & consumables business and the strategic partnership with the Fleming Companies.

"Julian's expertise in the grocery industry with Safeway Stores allows Kmart to tap into his extensive knowledge of the food business and grow this important component of our strategy," Adamson said.
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