US discount retailer Kmart has announced the appointment of Alywin Lewis as its new president and chief executive officer, effective immediately.

Julian Day, who had served as Kmart's president and CEO since January 2003, will remain on the company's board of directors and assist Lewis in the transition

Lewis joins Kmart from fastfood giant Yum! Brands, where he was president, chief multi-branding and operating officer.

Yum! Brands, meanwhile, announced the appointment of David Deno to the position of chief operating officer, reporting to chairman and CEO David Novak. As COO, Deno will oversee the company's operations and continue to serve as the company's chief financial officer during a transition year.

Yum! Brands also promoted Rick Carucci to senior vice president of finance and chief financial officer-designate. Carucci will report to Deno during the transition and then to Novak once he is appointed chief financial officer.

The fastfood company, whose banners include KFC and Pizza Hut, said Steve Davis, president of the company's Long John Silver's and A&W restaurant brands, will assume Lewis' accountabilities for the company's multi-branding strategy and will report directly to Novak.