Kmart Corporation has named John T McDonald, Jr as executive vice president and chief financial officer.

McDonald, previously senior vice president and treasurer of Kmart, succeeds Jeffrey N Boyer, who has left the company to spend more time with his family.

McDonald joined Kmart as vice president and treasurer in September 2000, and was promoted to senior vice president, finance and treasurer in 2001. He has been responsible for the company's banking relationships, treasury and investor relations functions.