Sears Holdings searches for direction |
| MarketWatch - Jan 28, 2008 |
Sears Holdings Corp. may be looking for a new chief executive, but Eddie Lampert is still running the show.
The struggling retailer said Monday that Aylwin Lewis will step down as president and chief executive on Feb. 2 and that Bruce Johnson, executive vice president in charge of supply chain and operations, will take on the CEO's post on an interim basis.
Hedge-fund operator Lampert put Lewis into the job in 2005, shortly after he engineered the merger of Sears with Kmart.
Things went reasonably well, as the combined operation rode close to $200 a share early last year.
That, however, was before the subprime-mortgage crisis and credit crunch kicked the legs out from under wobbly consumers.
Read Full Article from MarketWatch
- Posted: 2008-01-28 09:28:24
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