Kmart's New CEO: "Who Is Kmart?"

James B. Adamson talks about the mistakes of the past and his strategy for figuring out what the giant retailer's future will look like

On Mar. 11, bankrupt Kmart named turnaround specialist James B. Adamson as its new CEO, its fifth in seven years. A six-year veteran of Kmart's board, Adamson was elevated to the top job after being named nonexecutive board chairman two months earlier. He replaces Charles C. Conaway, whose 19-month effort to revive Kmart fell short, resulting in the largest bankruptcy filing in retailing history on Jan. 22.

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