Call it CFO Friday.
Three of the nation's top retailers named chief financial officers Friday. After home improvement retailer
announced Friday morning that it was promoting Carol Tome to CFO,
both announced their appointments of new CFOs around midday.
Kmart, based in Troy, Mich., lured Sears' CFO Jeffrey Boyer, 43, to its side, while Sears named Paul Liska to replace Boyer. Liska, 45, was most recently executive vice president and CFO of
St. Paul Cos.
, a property and casualty insurance company. At Kmart, Boyer will replace retiring CFO Martin Welch, 52.
Before working at Sears, Boyer held senior-level finance positions at
Kraft General Foods
. Prior to working at St. Paul, Liska was president and chief executive of
Both Sears and Kmart are venerable U.S. retail names that have seen their market share diminish in recent years as American consumers began flocking to discount stores like
Shares in Kmart lately traded at $10.58, down 8 cents. Sears, based in Hoffman Estates, Ill., traded down 27 cents at $36.22.