RETAILING

Woolworth’s Chief Executive Resigns: William Lavin, who also held the post of vice chairman, stepped down in a dispute with the struggling retailer’s directors. John W. Adams, a board member who is also Woolworth Corp.’s non-executive chairman, was named interim CEO and will serve in that position until a replacement for Lavin has been named. Lavin’s departure was announced after the stock market had closed. Woolworth did not disclose the nature of Lavin’s disagreement with the board, saying only that they had differences over the future direction of the company.