NEW CHIEF AT KMART
By Adnews Staff
Kmart Canada has replaced its five-year president and CEO Donald Beaumont with an executive from the U.S. head office, Michael Lynch. Lynch was international retailing senior vice-president before coming north to take the president's job. Last month Kmart took the for-sale sign down after failing to reach an agreement with a potential buyer for its 127-store Canadian operation. The interested party was rumored to be Toronto-based Hudson's Bay Co.
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