2008-01-30 Sears chief to leave, names interim CEO NEW YORK (Reuters) - U.S. retailer Sears Holdings Corp (SHLD.O) said its chief executive Aylwin Lewis will leave the company, effective Feb 2, the latest in a shake-up of the firm that operates the Sears and Kmart chain of stores. W. Bruce Johnson, executive vice president, supply chain and operations, was appointed interim chief executive, the company said in a statement. The move comes only days after Sears Holdings, which is controlled by hedge fund manager Edward Lampert, said it would separate business units and simplify the way they are managed in a bid to improve results and reverse recent profit declines. "The board has determined that now is the right time to put in place new leadership to take the company forward," Lampert said on Monday in a statement. Sears Holdings was formed with the 2005 merger of Kmart and Sears, but it has struggled to win customers from a host of competitors, and now faces an economic slowdown that has hurt sales of home goods such as appliances and tools. Earlier this month, Sears warned that fourth-quarter profits could be less than one-half those of year-ago levels, and said its holiday sales fell as the crumbling U.S. housing market and competition hurt business. Sales at stores open at least a year have fallen at both Kmart and Sears for the past seven quarters, and Sears' shares are now down about 49 percent from a high of $195.18 reached in April 2007. Sears said Johnson will oversee the five types of business units created under its new decentralized structure, and Lampert will lead the board's search for a permanent chief executive officer. (Reporting by Nicole Maestri and Franklin Paul in New York and Sweta Singh in Bangalore; Editing by Derek Caney and Dave Zimmerman) ]]> b4af1f21-a32e-dec0-4886-5476a0d1eca4digestalg-1|dvHIv5QDTG+s/E4wLiOruKdUobU=|B4nP2JfTLy8d0A9rev5Kyg79hhFiGSZ/xUvL8aiQ+kjgGzvLRklYig==hedge fund manager [after Sears Holdings, which is controlled by ]hedge fund manager Edward Lampert[, said it would separate business units and]60533Kmart[ shake-up of the firm that operates the Sears and ]Kmart[ chain of stores. W. Bruce Johnson,]3575[Holdings was formed with the 2005 merger of ]Kmart[ and Sears, but it has struggled to win customers]9935[stores open at least a year have fallen at both ]Kmart[ and Sears for the past seven quarters, and]14575Franklin Paul[officer. (Reporting by Nicole Maestri and ]Franklin Paul[ in New York and Sweta Singh in Bangalore;]183313New York[by Nicole Maestri and Franklin Paul in ]New York[ and Sweta Singh in Bangalore; Editing by Derek]18508known[Lampert said on Monday in a statement. ]Sears Holdings was formed with the 2005 merger of Kmart[ and Sears, but it has struggled to win customers]94355W. Bruce Johnson[the Sears and Kmart chain of stores. ]W. Bruce Johnson[, executive vice president, supply chain and]38516[$195.18 reached in April 2007. Sears said ]Johnson[ will oversee the five types of business units]16127interim chief executive[the Sears and Kmart chain of stores. ]W. Bruce Johnson, executive vice president, supply chain and operations, was appointed interim chief executive[, the company said in a statement. The move]385110chief executiveleaves[ leave, names interim CEO NEW YORK (Reuters) ]- U.S. retailer Sears Holdings Corp (SHLD.O) said its chief executive Aylwin Lewis will leave the company, effective Feb 2[, the latest in a shake-up of the firm that]168122Aylwin Lewis[Holdings Corp (SHLD.O) said its chief executive ]Aylwin Lewis[ will leave the company, effective Feb 2, the]23812NEW YORK[ Sears chief to leave, names interim CEO ]NEW YORK[ (Reuters) - U.S. retailer Sears Holdings Corp]1498Dave Zimmerman[Singh in Bangalore; Editing by Derek Caney and ]Dave Zimmerman[) </Body> </Document>]191614Sweta Singh[ Nicole Maestri and Franklin Paul in New York and ]Sweta Singh[ in Bangalore; Editing by Derek Caney and Dave]186311interim chief executiveenters[the Sears and Kmart chain of stores. ]W. Bruce Johnson, executive vice president, supply chain and operations, was appointed interim chief executive[, the company said in a statement. The move]385110chief executive[ leave, names interim CEO NEW YORK (Reuters) ]- U.S. retailer Sears Holdings Corp (SHLD.O) said its chief executive Aylwin Lewis will leave the company, effective Feb 2[, the latest in a shake-up of the firm that]168122United States[names interim CEO NEW YORK (Reuters) - ]U.S.[ retailer Sears Holdings Corp (SHLD.O) said its]1704[ and said its holiday sales fell as the crumbling ]U.S.[ housing market and competition hurt business. ]13444Derek Caney[York and Sweta Singh in Bangalore; Editing by ]Derek Caney[ and Dave Zimmerman) </Body>]190011Bangalore[ and Franklin Paul in New York and Sweta Singh in ]Bangalore[; Editing by Derek Caney and Dave Zimmerman)]18789Edward Lampert[which is controlled by hedge fund manager ]Edward Lampert[, said it would separate business units and]62414[new leadership to take the company forward," ]Lampert[ said on Monday in a statement. Sears]8997[under its new decentralized structure, and ]Lampert[ will lead the board's search for a permanent]17177executive vice president [the Sears and Kmart chain of stores. ]W. Bruce Johnson, executive vice president[, supply chain and operations, was appointed]38542Nicole Maestri[chief executive officer. (Reporting by ]Nicole Maestri[ and Franklin Paul in New York and Sweta Singh in]181414Sears Holdings Corp[<Document> <Title>]Sears[ chief to leave, names interim CEO</Title>]205[CEO</Title> <Date>2008-01-30</Date> <Body> ]Sears[ chief to leave, names interim CEO NEW YORK]1045[CEO NEW YORK (Reuters) - U.S. retailer ]Sears Holdings Corp[ (SHLD.O) said its chief executive Aylwin Lewis]18419[(Reuters) - U.S. retailer Sears Holdings Corp (]SHLD.O[) said its chief executive Aylwin Lewis will]2056[in a shake-up of the firm that operates the ]Sears[ and Kmart chain of stores. W. Bruce]3475[ a statement. The move comes only days after ]Sears Holdings[, which is controlled by hedge fund manager]56614[Lampert said on Monday in a statement. ]Sears Holdings[ was formed with the 2005 merger of Kmart and]94314[was formed with the 2005 merger of Kmart and ]Sears[, but it has struggled to win customers from a]10035[appliances and tools. Earlier this month, ]Sears[ warned that fourth-quarter profits could be less]12005[at least a year have fallen at both Kmart and ]Sears[ for the past seven quarters, and Sears' shares]14675[ Kmart and Sears for the past seven quarters, and ]Sears[' shares are now down about 49 percent from a]15065[a high of $195.18 reached in April 2007. ]Sears[ said Johnson will oversee the five types of]16015