Kmart Names New Board
By George Anderson
Kmart has named nine new members to its Board of Directors.
Financier Edward Lampert, Kmart’s largest stockholder (see RW 3/27/03, Would
Sears and Kmart Be Perfect Together?), and eight other investment firm and
financial executives make up the new board.
The new members are:
- Julian Day, president and chief executive officer, Kmart
- E. David Coolidge, chief executive officer and vice chairman of William Blair & Co. LLC, a Chicago-based independent investment firm
- William Crowley, president and chief operating officer. ESL Investments. Previously served as managing director in the Merger and Acquisitions Department for Goldman Sachs
- Thomas Tisch, managing partner for the private investment firm Four Partners.
- Steven Mnuchin, former chief information officer at Goldman Sachs
- Anne Reese, retired from ITT where she was senior vice president and chief financial officer
- William Foss, lawyer. Former general counsel for a division of LVMH Moet Hennessy Louis Vuitton
- Brandon Stranzl, senior research analyst, Third Avenue Management
Moderator’s Comment: Does the makeup of Kmart’s new
board of directors give you any thoughts on what the company’s future may be?
Sometimes the parts are worth more than the whole.
Anderson – Moderator]