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Former president of Kmart to lead Texas-based Pier 1 Imports

FORT WORTH, Texas (AP) — A former president of retail chain Kmart has been named president and CEO of Pier 1 Imports.

Fort Worth-based Pier 1 on Monday announced the appointment of Alasdair James.

James, who has served as Kmart president since 2014, begins his new duties May 1 with the home furnishings company. James replaces Terry London, the chairman of the board of Pier 1 who has served as interim president and CEO since January.

Kmart is a wholly owned subsidiary of Illinois-based Sears Holding Corp. Sears last month reported a fourth-quarter loss of $607 million, or $5.67 per share.

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