Sears Holdings Corporation (NASDAQ: SHLD) announced today a team of executives that will lead marketing, strategy, and Lands' End, reporting to Chairman of the Board Edward S. Lampert.
Maureen McGuire will assume the newly-created position of executive vice president and chief marketing officer for Sears Holdings. Ms. McGuire joins Sears from IBM, where she worked for 30 years with increasing responsibility and assisted in one of the most successful corporate turnarounds. Most recently, Ms. McGuire served as IBM's vice president, strategy and marketing, worldwide systems and technology group. Reporting to Maureen will be the chief marketing officers for Sears, Roebuck and for Kmart, as well as customer direct.
Corwin Yulinsky will join Sears Holdings as executive vice president, customer strategy and insight. Mr. Yulinsky joins Sears Holdings from McKinsey and Co., where he was a leader of the financial institutions practice and consulted with a variety of national financial institutions developing customer relationship and distribution strategies. Mr. Yulinsky also worked for Chase Manhattan Bank, serving as senior vice president and executing their customer relationship strategy. Reporting to Mr. Yulinsky will be customer relationship management and financial services.
"These two experienced and highly effective executives will bring Sears Holdings a new level of creativity and focus on marketing and our customer relationships," said Mr. Lampert. "I particularly value the winning attitude and record of success that they will bring to Sears Holdings, and I expect them to help lead the on-going change in Sears' culture."
Sears Holdings announced that David McCreight has been formally named president of Lands' End. Mr. McCreight has been acting as interim President of Lands' End since Aug. 4, 2005. He joined Lands' End in 2003 as Chief Merchant.
"David has moved quickly to inject energy into the Lands' End organization and to foster collaboration with Sears Holdings," Mr. Lampert stated and added, "With David's background and experience, we look forward to his leadership in extending and expanding the Lands' End brand with the quality, value and service that it has long been known for."
Mr. Lampert added, "With these announcements, we are well on our way to putting in place the team that will help lead the changes in Sears Holdings that are necessary to more quickly and fully meet the needs of our customers and earn their trust. We have a great deal to accomplish, and the people we attract and retain are critical to our success."
Sears Holdings also announced that Luis Padilla, president and Sears' chief merchant will be leaving the company, effective Oct. 31, 2005. The company is currently evaluating leadership alternatives and a search for his replacement is underway. In the interim, the senior merchants leading Sears' home and apparel businesses will report to Mr. Lampert.
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 http://www.searsholdings.com/ .
SOURCE: Sears Holdings Corporation
CONTACT: Sears Holdings Public Relations, +1-847-286-8371
Web site: http://www.searsholdings.com/