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..