Joseph E. Antonini
Joseph E. "Joe" Antonini is a businessman who is best known for having been the CEO of Kmart.
Kmart
Antonini became Chairman in 1984 and CEO of Kmart in 1987.[1] In 1990 many of Kmart's stores were considered to be outdated and in decaying condition, that led Kmart changed their image and logo which was unveiled in September 1990, and stores in 1991., Also in 1990 Antonini Kmart began a major restructuring and remodeling effort. In 1990 Kmart was fighting against Walmart over competition and the company was in financial problems. Kmart said it plans to relocate 800 existing Kmart stores, rather than the previously announced 300. And it will expand 700 others and has slated another 670 for remodeling.
To date, Kmart has relocated 300 stores and completed 430 expansions and 450 remodelings. At the conclusion of Kmart's rebuilding program there will be 2,347 larger, new-look Kmart stores.
In February 1990, when Kmart announced its refurbishing program, plans were to close and relocate about 300 Kmart stores, to expand about 620 stores and to remodel the remaining 1,250 stores. Another 150 stores were to be closed within five years.[2] He later resigned in 1995.[3]
Joseph Antonini was also a retail manager at Krege's on Union Road in Cheektowaga, New York in the late 1960s. Krege's, a five and dime operation, eventually became KMart and Antonini moved up with the organization.
References
- ↑ http://www.nytimes.com/1995/03/22/business/kmart-chief-under-siege-resigns-post.html. Missing or empty
|title=(help) - ↑ "Kmart Earnings".
- ↑ White, George (22 March 1995). "Kmart CEO Antonini Resigns : Price of Stock Jumps 8% on News of Ouster". Los Angeles Times. Retrieved 21 June 2015.