NEW YORK: When the new chief executive of Kmart takes the companys jet for personal trips, he will have to pay for it. His base salary is lower than that of the companys former CEOs, and he got no signing bonus.
Kmarts board of directors, sharply criticised for not doing enough to prevent the century-old retailer from going bankrupt, showed evident restraint last month in the terms offered to Julian C. Day, its third CEO in less than a year.
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