Sears Holdings Announces Centralized Merchandising Organization and Leadership
Sears Holdings Corporation (NASDAQ: SHLD) announced today a realignment of its merchandising divisions as part of the company's continuing effort to increase the efficiency and effectiveness of its business.
Effective immediately, the Sears, Roebuck and Kmart merchandising organizations will be centralized under the following executives, who will report to the Chairman of the Board, Edward S. Lampert, until a Chief Merchant for Sears Holdings is appointed:
Dan Laughlin, currently senior vice president/GMM, Home for Sears, Roebuck has been named senior vice president, merchandising for Sears Holdings. Laughlin will lead the Hardlines businesses across all of Sears Holdings and will oversee merchandising for Sears, Roebuck.
Peter Whitsett, senior vice president and Kmart merchandising officer, will lead the General Merchandising businesses across all of Sears Holdings and will continue to oversee merchandising for Kmart
"By centralizing our merchandising teams under these two talented and experienced merchants, we are able to create a structure that capitalizes on the strength of this combined organization. It allows us to better focus on providing our customers with quality services, products and solutions," said Mr. Lampert. "By building and aligning these teams, we'll take a more integrated approach to how we interact with our customers and how we go to market."
Sears Holdings also announced that Roger Detter, senior vice president/GMM, Hardlines for Sears, Roebuck will retire from the company at the end of the month.
Mr. Lampert stated, "I'd like to thank Roger for his commitment, his drive for excellence and for his focus on customers during his 33 years with Sears. I wish Roger and his family all the best in this next chapter of their lives."
The company also confirmed that Gwen Manto, executive vice president/GMM, Softlines for Sears Roebuck, has left the company to pursue other interests. Sears Holdings is currently conducting a search for senior leadership for the company's apparel businesses. In the interim, the apparel businesses of Sears and Kmart will report to Laughlin and Whitsett, respectively.
About Sears Holdings Corporation
Sears Holdings Corporation is the nation's third largest broadline retailer, with approximately $55 billion in annual revenues, and with approximately 3,900 full-line and specialty retail stores in the United States and Canada. Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, home electronics and automotive repair and maintenance. Key proprietary brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington brands. It also has Martha Stewart Everyday products, which are offered exclusively in the U.S. by Kmart and in Canada by Sears Canada. The Company is the nation's largest provider of home services, with more than 14 million service calls made annually. For more information, visit Sears Holdings' website at .
SOURCE: Sears Holdings Corporation
CONTACT: News Media, Sears Holdings Public Relations, +1-847-286-8371
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