Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

Is A New Ceo On Kmart's Shopping List?


In Business This Week: HEADLINER

IS A NEW CEO ON KMART'S SHOPPING LIST?

Kmart is looking for a new senior executive. The question outsiders are asking: How senior?

Headhunters report that the troubled retailer is actively searching for a chief operating officer who would serve under Chairman and Chief Executive Joseph E. Antonini. But some outsiders believe that the board actually is looking for a new CEO to replace Antonini. One headhunter noted that the COO search could be a smokescreen--a way to avoid asking Antonini to allocate funds to find his own replacement.

Antonini has been under intense pressure from shareholders who want him to forge a turnaround for Kmart. And retailing consultants say Antonini could use a strong No.2 to do the job. A Kmart spokeswoman won't detail the company's hiring plans, but she points out that at last spring's annual meeting, Antonini promised a complete review of Kmart's management. Outside sources confirm that a board committee has been looking for new senior managers.

Antonini, who couldn't be reached to discuss the executive search, told BUSINESS WEEK in mid-August: "I feel secure in the job."EDITED BY THANE PETERSON By James B. Treece


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus