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Article: Kmart's exiting CEO to take $105 million in stock from former bankrupt chain.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 21, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Greta Guest, Detroit Free Press Knight Ridder/Tribune Business News
Oct. 21--Julian Day, who helped lift Kmart from the scrap heap of American retailing to become a profitable company, will walk away from the Troy retailer with stock options valued at $105 million as of Wednesday, according to his exit package detailed in a government filing.
If Day exercises even a portion of his options, he likely would rank as the highest paid chief executive officer among Michigan's publicly traded companies this year. American Axle Chairman and CEO Richard Dauch topped that list in 2003 with about $31 million in compensation. Day also would collect more ...