Kmart Corporation (NYSE: KM) today announced that Marty Welch, 52, has been promoted to Executive Vice President and Chief Financial Officer from Senior Vice President and Chief Financial Officer, effective immediately. He will continue to report to Michael Bozic, Kmart Vice Chairman, and be responsible for all aspects of corporate finance.
"Marty has been instrumental in restructuring the company's balance sheet and strengthening all aspects of our financial operations," said Bozic. "His leadership will continue to be key as we pursue strategic imperatives aimed at improving all aspects of our business."
Prior to joining Kmart in 1995, Welch had served as senior vice president and CFO for Federal-Mogul Corporation. He also held various financial positions with Chrysler Corporation, Freuhauf Corporation and Arthur Young & Company.
Also, effective immediately, Ron Chomiuk, 47, has been promoted to Vice President, Pharmacy Operations, reporting directly to Kmart President and COO Andy Giancamilli. In this new position, Chomiuk will be responsible for all aspects of pharmacy operations including establishing and maintaining relationships with third party managed care.
"Ron brings extensive merchandise and operational knowledge to our Drug Store operations. His understanding of the needs of our pharmacy customers and ability to develop effective partnerships will be crucial to leading the further development of this strategic business," said Giancamilli.
Chomiuk previously served as Vice President, General Merchandise Manager, Drug Store Businesses for the company. He joined Kmart in 1995 as Director, Pharmacy/Consumables, Super Kmart. In 1997 he was promoted to Divisional Vice President, Health and Beauty Care and in 1999 to Vice President, GMM, Drug Store Businesses.
Kmart Corporation serves America with 2,165 Kmart, Big Kmart and Super Kmart retail outlets. In addition to serving all 50 states, Kmart operations extend to Puerto Rico, Guam and the U.S. Virgin Islands. More information about Kmart is available on the World Wide Web at http://www.bluelight.com/ under the "About Kmart" section.
SOURCE: Kmart Corporation
Contact: Mary Lorencz, Director, Corporate Media Relations of Kmart