Open main menu

Charles 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 backgroundEdit

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

CareerEdit

Before joining Kmart, Conaway was the President and COO of CVS Corp. Conaway became Chairman and CEO of Kmart in April, 2000.[2]

S.E.C. lawsuitEdit

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]

ReferencesEdit

  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.