Charles Conaway


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.

Education

Conaway holds an MBA from the University of Michigan.

Career

Before joining Kmart, Conaway was the President and COO of CVS. Conaway became chairman and CEO of Kmart in April 2000.

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. 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.