ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: MONDAY, April 4, 1994                   TAG: 9404040125
SECTION: NATIONAL/INTERNATIONAL                    PAGE: A-10   EDITION: METRO 
SOURCE: 
DATELINE: NEW YORK                                LENGTH: Short

WOOLWORTH EXECUTIVES STEP DOWN

Woolworth Corp. said Sunday its chairman and chief financial officer were temporarily stepping down, less than a week after the store chain reported an internal probe into accounting irregularities.

William K. Lavin, chairman and chief executive officer, and Charles T. Young, senior vice president and chief financial officer, will step down until the conclusion of an investigation by a special committee appointed by the company's board, Woolworth said in a statement.

The nature of the accounting irregularities have not been disclosed, and the company has refused to comment further.

- Associated Press 


 by CNB