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Kmart fires Paquette, four senior execs

Troy, MI — Kmart Corp. has dismissed Paula Paquette, senior vp, hardlines and home, and four other senior executives, demanding they repay retention loans granted them under the tenure of former chairman and ceo Chuck Conaway, the company stated.

They are the last five executives still working for the bankrupt retailer who received such loans. The others fired are Janet Kelley, executive vp and general counsel; Mariana Keros, vp, trend and product development; Douglas Meissner, western division president; and Lee Villborghi, regional vp.

Kmart chairman James Adamson stated it was important to put the controversy surrounding the loans behind the company as it prepared to exit Chapter 11. Kmart said it was making written demand on all recipients of the loans that they repay them.

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