KMART ADDS TWO TO BOARD
NEW YORK — James B. Adamson, formerly a marketing and merchandising executive at Dayton Hudson and The Gap, and Robert D. Kennedy were named to Kmart Corp.’s board, effective March 19. The move increases the discounter’s board to 15 members.
Kmart said Adamson, currently chairman and chief executive officer of Flagstar Cos., will succeed F. James McDonald, who is stepping down on May 21, the date of Kmart’s annual meeting. At that time, Kmart’s board will be reduced to 14.
Kennedy, former chairman and ceo of Union Carbide Corp., takes the seat of former Kmart chairman Donald S. Perkins, who resigned from the board on Dec. 31. Kmart has named five directors over the past 11 months.