Sears Names New Top Marketing Executives
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Edward Lampert, the billionaire chairman of Sears Holdings Corp., isn’t going to be chief marketer and merchandiser of the nation’s No. 3 retailer after all.
Sears Holdings Corp. named new executives in charge of marketing and customer strategy for its Sears Roebuck and Kmart stores and Lands’ End clothing business and said its chief merchant, Luis Padilla, is leaving the company for reasons that weren’t disclosed.
The announcement came six weeks after Lampert shook up top management after another poor quarter and said he would direct the marketing, merchandising, design and online businesses at Sears Holdings and Lands’ End.
Shares of Sears rose $4.65 to $123.44.
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