Kmart Exec Leaves Again

Kmart Holding Corp. (Troy, Mich.) announced that William Underwood, executive vp, sourcing and global operations, resigned, effective today.

Underwood, who joined the company in 1962 as a management trainee with S.S. Kresge in Joliet, Ill., had retired from Kmart in 1999 as a senior vp for global operations, corporate brands and quality assurance.

In June 2002, at the request of then-chairman and ceo James Adamson, Underwood came out of retirement to assist Kmart in its Chapter 11 reorganization efforts, working again in global sourcing. At Adamson's request, Underwood also worked with the merchant organization on an interim basis.

Julian Day, Kmart president and ceo, said, “Bill recognized the critical value of global sourcing and showed flexibility in helping us develop the merchant organization. We thank him for his efforts and wish him well.”