Glenn R. Richter has been promoted to senior vice president of Finance, and Richard F. Westenberger to vice president, Investor Relations for Sears, Roebuck and Co. Both individuals will report to Paul J. Liska, executive vice president and chief financial officer.
The appointments are effective immediately.
In this newly created position, Richter, formerly vice president and controller, is responsible for the company's financial planning, analysis and business development functions. He also will lead the company's productivity initiatives.
As vice president of Investor Relations, Westenberger will direct the company's investor relations function as well as provide competitive and strategic analysis aiding in the development and execution of company strategy. He formerly was senior director, Investor Relations.
"Glenn and Richard are capable executives who have demonstrated their effectiveness as leaders," said Liska. "As members of the company's senior financial management team, they will be integrally involved in our efforts to drive improved productivity and returns and increased shareholder value."
Richter, 39, joined Sears in 2000. Prior to that, he served as senior vice president and chief financial officer of Dade Behring, International. He previously held senior finance positions with PepsiCo and McKinsey and Company. Richter is a graduate of George Washington University and received his master's degree from the Fuqua School of Business, Duke University.
Westenberger, 33, joined Sears in 1996 and has held financial management positions of increasing responsibility in the company's credit business, corporate finance and investor relations functions. His previous work experience was with Kraft Foods, Inc. and Price Waterhouse. Westenberger is a graduate of the University of Notre Dame. He holds a master's degree from the Graduate School of Business of the University of Chicago.
Sears, Roebuck and Co. (NYSE: S) 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 in the U.S. through Sears stores nationwide, including approximately 860 full-line stores. Sears also offers a wide variety of merchandise and services through its Web site, www.sears.com .
SOURCE: Sears, Roebuck and Co.
Contact: Peggy A. Palter of Sears, Roebuck and Co., +1-847-286-8309