Retail News Breaks Archives
Sears names new CEO
February 25th, 2011
HOFFMAN ESTATES, Ill. – Sears Holdings Corp. has tapped Lou D'Ambrosio to serve as its new president and chief executive officer.
D'Ambrosio, who has been serving as a consultant to Sears' board for the past six months, has a background in information technology rather than retailing. He served as CEO of Avaya Inc., a communications technology firm, from 2006 to 2008, and before that he spent 16 years with IBM.
"We were determined to find a leader with information and technology experience who could catalyze the transformation of our businesses in the context of the evolution of the retail industry that is occurring more broadly," said Sears chairman Edward Lampert.
The appointment of D'Ambrosio concludes a three-year search for a replacement for Aylwin Lewis, who resigned in February 2008. D'Ambrosio takes over from interim CEO W. Bruce Johnson, who now serves as executive vice president of off-mass businesses and supply chain.