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Sears Holdings Names New CEO

Sears Holdings announced that Lou D'Ambrosio was elected chief executive officer and president of the company by the board of directors. The company’s search for a chief executive officer took three years."From the beginning of our CEO search,

"From the beginning of our CEO search, we were determined to find a leader with information and technology experience who could catalyze the transformation of our portfolio of businesses in the context of the evolution of the retail industry that is occurring more broadly," says Edward S. Lampert, chairman of the Board of Directors. "Having worked closely with D'Ambrosio and observing his business acumen, compelling leadership style, performance orientation and Customer First approach, I am confident that Lou is the right person to lead and transform Sears Holdings."

Prior to his appointment at Sears, D'Ambrosio served as chief executive of Avaya. Before joining Avaya in 2002, he spent 16 years at IBM.

"I am delighted to have the opportunity to serve the customers, associates and shareholders of Sears Holdings," says D'Ambrosio. "I look forward to working with the team in serving our customers in extraordinary ways, creating a special workplace, and delivering value to our shareholders."

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