FLOTO TO BE HEAD OF DIARY FARM INT’L.
NEW YORK — Ronald J. Floto, executive vice president of Kmart Corp. and president of the company’s Super Kmart division, will become chief executive officer of Dairy Farm International Holdings Ltd., effective June 12.
Dairy Farm is a Hong Kong-based supermarket and drug store chain with sales of $13 billion in 1996. Floto, who has worked for a Dairy Farm joint-venture partner, was unavailable for comment.
As reported Wednesday, Floto is leaving Kmart on May 5.
Prior to taking the Kmart posts in October 1994, Floto worked at Kash n’ Karry Food Stores Inc., where he was ceo, and at Jewel Cos. He also was an adviser to the Seiyu Group, Dairy Farm’s joint venture partner in its Wellsave supermarket chain in Japan.
Dairy Farm operates 2,800 units that include supermarkets and drug stores in Asia, Australia and Europe.