Charles Conaway

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Charles "Chuck" Conaway is businessman who is best known for having been the CEO of Kmart. He has also been the President and Chief Operating Officer of CVS Corporation.[1]

Academic background[edit]

Conaway holds an MBA from the University of Michigan.[1]

Kmart[edit]

Conaway became Chairman and CEO of Kmart in April, 2000.[2]

S.E.C. lawsuit[edit]

In 2005, the U.S. Securities and Exchange Commission filed a lawsuit that accused him of misleading Kmart investors prior to the company's bankruptcy in 2002. The S.E.C. originally sought $22 million from Conaway.[3] A jury found him liable in a trial four years later, in 2009. While he initially appealed the decision, Conaway dropped his appeal in November 2010 and agreed to pay a $5.5 million settlement.[4]

References[edit]

  1. ^ a b "Global Conference 2001 Speaker's Biography". Milken Institute. Retrieved 29 January 2013. 
  2. ^ "Kmart Earnings". Lakeland Ledger. 26 July 2000. Retrieved 29 January 2013. 
  3. ^ "S.E.C. Seeks to Recover $22 Million From Kmart’s Former Chief". The New York Times. 3 August 2009. Retrieved 29 January 2013. 
  4. ^ "Former Kmart head Charles Conaway to settle SEC case for $5.5M". Associated Press. 10 November 2010. Retrieved 29 January 2013.