Sears Holdings Corporation (NASDAQ: SHLD) today announced new executives to lead various business units:
-- Scott Freidheim will join Sears Holdings as EVP, Operating and Support Businesses and member of the internal holding company business unit board of directors. Freidheim has been with Lehman Brothers for over 17 years, where he most recently served as Chief Administrative Officer and Executive Vice President of Lehman Brothers Holdings Inc., overseeing the corporate division, reporting to the company's Chairman and CEO. He was responsible for a wide range of functions including brand, communications, legal, strategy and talent management. Freidheim was charged with driving significant cost containment and improved efficiencies across the organization. Over the years, he held officer positions in the investment banking, private equity and corporate divisions.
-- Nick Coe will join Sears Holdings as SVP and President, Lands' End. He has over 25 years of merchandising and marketing expertise along with experience working to grow recognizable brands such as Gillette, Levi's, Dockers and Banana Republic. Most recently, Coe served as Senior Vice President, Merchandising and Interim Head of Design for Banana Republic. In his three years with Banana Republic, he was instrumental in refining the brand strategy and customer segments, developing and executing key growth strategies and driving a profitable business model. Previous to Banana Republic, he spent 19 years within various divisions of Levi Strauss & Co in global leadership roles, most recently as Vice President, Merchandising, North America for Men's and Boy's.
-- Mark de Bruin joins Sears Holdings as SVP and President, Pharmacy. He has a wealth of expertise in developing and managing profitable retail, online and mail order pharmacy businesses. De Bruin was most recently Executive Vice President, Pharmacy for Rite Aid Corporation with responsibilities for managed-care pharmacy, clinical services, procurement, operations, marketing, financial planning, business development and government relations. He joined Rite Aid Corporation in 2003 after spending four years at Albertsons, Inc., as VP, Managed Health Care and Pharmacy Procurement where he led the e-business strategy development for Savon.com, Albertson's online pharmacy.
"A little less than a year ago, the company announced a bold effort to transform our business, to make it more entrepreneurial, more effective and more profitable. The addition of these great executives underscores the opportunities that Sears Holdings presents for talented individuals. Despite the tough market conditions, we plan to continue to add transformational leaders to our organization. This group of seasoned executives will help move Sears Holdings forward toward our financial priorities - improving margins, tightly controlling expenses and focusing on cash generation," said Bruce Johnson, interim CEO and president of Sears Holdings. "We remain committed to investing in our future by hiring talented leaders. I value the winning attitude and track record of success that they bring to our company."
About Sears Holdings Corporation:
Sears Holdings Corporation is the nation's fourth largest broadline retailer, with approximately $50 billion in annual revenues, and with approximately 3,800 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 13 million service calls made annually. For more information, visit Sears Holdings' website at http://www.searsholdings.com/.
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SOURCE: Sears Holdings Corporation
CONTACT: Sears Holdings Public Relations, +1-847-286-8371
Web site: http://www.searsholdings.com/