Staff -- Home Textiles Today, 1/28/2002 12:00:00 AM
Kmart appoints chief restructuring officer
Ronald Hutchison joined Kmart last week as executive vp and chief restructuring officer, and will work with senior management to address the financial and operational challenges that have hampered Kmart's performance. Hutchison was most recently cfo of Advantica Restaurant Group, one of the largest restaurant companies in the United States, and where James Adamson, Kmart's newly appointed chairman, came from as well. Hutchison was one of the key architects of Advantica's reorganization, which involved the elimination or restructuring of more than $2 billion of debt. Hutchison was also involved in the financial reorganization of Leaseway Transportation, a transportation holding company that emerged from Chapter 11 in the early 1990s.
Elder-Beerman names new president, ceo
The Elder-Beerman Stores Corp. has appointed Byron "Bud" Bergren as president and ceo as well as a member of the board, effective Feb. 11. He reports to Steven Mason, the new non-executive chairman of the board who served as interim president after Frederick Mershad retired. Bergren joins Elder-Beerman from Belk Inc., where he headed the southern division of 46 stores as chairman or president for the past 10 years.
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