Oct. 22, 2004 – Departing Kmart chief executive Julian Day, who oversaw the retail company while it fired 57,000 employees, will receive about $90 million in stock options.
Some analysts, citing the company?s turn-around from bankruptcy to healthy profits, say Day?s massive compensation package was deserved. Day had been president and chief operating officer since March 2002 and was named CEO in January 2003.
Kmart closed almost 600 stores after filing for bankruptcy in January 2002.
