Kmart Names New Board

Apr 03, 2003

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

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