Kmart Holding Corporation (NASDAQ: KMRT) announced today that William D. Underwood, Executive Vice President, Sourcing and Global Operations, resigned from the Company, effective today.
Underwood, 62, joined the Company in 1962 as a management trainee with S.S. Kresge Company in Joliet, IL and held a number of increasingly responsible management and executive positions. He retired from Kmart in 1999 as a Senior Vice President for Global Operations, Corporate Brands and Quality Assurance.
In June of 2002, at the request of then-Chairman and CEO James B. Adamson, Underwood came out of retirement to assist the Company in its Chapter 11 reorganization efforts. Underwood put his considerable experience with the Company to work in global sourcing. At Adamson's request, Underwood also worked with the merchant organization on an interim basis.
Julian C. Day, President and Chief Executive Officer of Kmart said: "Bill recognized the critical value of global sourcing and showed flexibility in helping us develop the merchant organization. We thank him for his efforts and wish him well."
Kmart Corporation is a mass merchandising company that serves America through Kmart and Kmart SuperCenter retail outlets.
SOURCE: Kmart Holding Corporation
CONTACT: Kmart Media Relations, +1-248-463-1021
Web site: http://www.kmart.com/