Kmart Corp. named CVS executive Charles Conaway as its new chairman and CEO on Wednesday, immediately replacing Floyd Hall at the helm of the nation's third-largest retailer.
Conaway, 39, signed a five-year contract with the Troy, Mich.-based discount store chain. The 61-year-old Hall had said in mid-May that he planned on retiring from the company within the next year.
Conaway is leaving his post as president and chief operating officer at CVS, the nation's largest drugstore chain.
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