Short-Time Kmart Boss Leaves with Big Payoff

By: Associated Press
By: Associated Press

Outgoing chief executive Julian Day is earning a sweet payday for his tenure at Kmart.

Day will be picking up about $90 million in stock options. He also gets $2 million by signing a release agreement, on top of most of his $1 million annual bonus for the year. And he stands to collect nearly $1.5 million more if Kmart makes its goals for the next three years.

Analyst Ulysses Yannas thinks Day deserves it, noting Kmart was on the verge of going under when the executive took over last year. Now, it's turning a profit.

Compensation expert Kenneth Dalto says a deal's a deal, but he thinks Day's package is excessive.


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