MARVIN RICH JOINS KMART AS EXEC VP

NEW YORK — Marvin P. Rich has been named executive vice president for strategic planning, finance and administration at Kmart.
Rich was executive vice president of Wellpoint Health Networks, the for-profit unit of Blue Cross of California.
Kmart chairman Joseph Antonini said in a statement Rich would lead Kmart’s cost cutting efforts aimed at saving $600 million to $800 million.
Also this month. Kenneth Watson was named executive vice president of marketing and product development and Ron Floto was hired to oversee the Super Kmart division.