Sears Nominates Carty to Board
The board of directors of Sears, Roebuck and Co. (NYSE: S) nominated Donald J. Carty, chairman, president and chief executive officer of AMR Corporation and American Airlines, Inc., to become a member of the board. The nominee will be voted on by shareholders at the company's May 10 annual meeting, and would increase the number of Sears directors to 10.
"Don is a superb business man," said Sears Chairman and Chief Executive Officer Alan J. Lacy. "The business insights and perspective he has gained in consumer services will be of enormous benefit to us."
Carty became chairman, president and CEO of AMR Corporation on May 20, 1998, after serving as president of AMR Airline Group and American Airlines since March 1995. Prior to becoming chairman, Carty was the company's principal airline executive, responsible for all operational elements of the American and American Eagle domestic and international route systems.
American's passenger division is one of the largest scheduled passenger airlines in the world, providing scheduled jet service to destinations throughout North America, the Caribbean, Latin America, Europe and the Pacific. American's cargo division, one of the world's largest scheduled freight carriers, provides a full range of freight and mail services to shippers throughout the airline's system. Earlier, Carty was executive vice president -- finance and planning for AMR and American Airlines, overseeing a broad range of strategic planning matters and a wide array of critical financial activities.
Carty is a member of the board of directors of Dell Computer Corporation and Brinker International. He is also a member of the Board of Trustees of Southern Methodist University, the Harvard Business School Visiting Committee, the Advisory Board of the Kellogg Graduate School of Management at Northwestern University and the SMU Cox School of Business Executive Board.
He is a graduate of Queen's University in Kingston, Ontario, and of the Harvard Graduate School of Business Administration.
Sears, Roebuck and Co. is a leading U.S. retailer of apparel, home and automotive products and services, with annual revenue of more than $40 billion. The company serves families across the country through approximately 860 full-line department stores, approximately 2,100 specialized retail locations, and a variety of online offerings accessible through the company's Web site, .
SOURCE: Sears, Roebuck and Co.
Contact: Media, Linda Brown Blakley of Sears, Roebuck and Co.,
847-286-8862
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