Charles Conaway is an American businessman who is best known as the former CEO of Kmart. He has also been the president and chief operating officer of CVS Corporation.[1]
Education
Conaway holds an MBA from the University of Michigan.[1]
Career
Before joining Kmart, Conaway was the President and COO of CVS.[2] Conaway became chairman and CEO of Kmart in April 2000.[3]
S.E.C. lawsuit
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.[4] 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.[5][6]
References
- Global Conference 2001 Speaker's Biography Milken Institute, retrieved 29 January 2013^
- Stumbles cost Kmart CEO his job Tampa Bay Times, retrieved 2025-11-17^
- Kmart Earnings Lakeland Ledger, 26 July 2000, retrieved 29 January 2013^
- S.E.C. Seeks to Recover $22 Million From Kmart's Former Chief The New York Times, 3 August 2009, retrieved 29 January 2013^
- Former Kmart head Charles Conaway to settle SEC case for $5.5M Associated Press, 10 November 2010, retrieved 29 January 2013^
- Former Kmart CEO Is Ordered To Pay $5.5 Million By SEC For Lying To Investors Business Insider, retrieved 2025-11-17^