DEFINITION of 'Julian C. Day'
The CEO and chairman of technology retailer Radio Shack since July 2006 and a former CEO and president of mass merchandiser Kmart Corp. After joining Kmart as its COO and president in 2002, he rose to CEO in January 2003. Day helped Kmart strengthen its balance sheet, improve profitability and liquidity, reduce debt, secure exit financing and decrease operating costs. One of his strategies was to decentralize decision making so store managers had more control over their inventory purchases. He stepped down as Kmart's CEO in October 2004.
BREAKING DOWN 'Julian C. Day'
Day was born in England in 1952 and educated at Oxford and the London Business School. He began his career with consulting firm McKinsey & Company in 1980 and went on to work at Chase Manhattan Bank and at asset manager Kohlberg, Kravis, Roberts & Co. His first C-level position was at Safeway (North America), where he became CFO in 1993 and later executive vice president. He dramatically improved the company's share price, earning a reputation as a turnaround specialist. He then joined Sears, Roebuck and Co. in 1999, where he held the same positions.