USA: Kmart Chief Executive Conaway Quits
Struggling retail giant Kmart revealed on Monday that its chief executive, Chuck Conaway, has quit - just days after it announced plans to close scores of unprofitable stores and axe 22,000 jobs.
The company said in a statement that its chairman, James Adamson, will replace Conaway with immediate effect. It added that its chief financial officer, John McDonald Jr, is also leaving.
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