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Kmart Hires Fast-Food Veteran to Be Its CEO

IN BRIEF / RETAIL

October 19, 2004|From Associated Press

Kmart Holding Corp. has chosen fast-food industry veteran Aylwin Lewis to lead the retailing company, a decision some analysts said could point to a new push to improve operations after the discounter's successful financial turnaround.

Kmart said Lewis, 50, a director of Walt Disney Co. and formerly an executive at restaurant operator Yum Brands Inc., would succeed Julian Day as chief executive and president.

Shares of Troy, Mich.-based Kmart rose $4.31 to $91.02 on Nasdaq.

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