Sears’ new CEO? Surprise!

From a recent RetailWire comment about the announcement that Eddie Lampert has taken the reins as CEO of Sears Holdings:

Why would this announcement come as a surprise? Doesn’t the revolving door of leadership at Sears Holdings suggest that Mr. D’Ambrosio’s tenure was going to be a short one? The Wall Street Journal article suggests that major decisions (merchandising and otherwise) were made by Mr. Lampert on his team’s pilgrimages to his East Coast office.

It should be clear by now that Eddie Lampert has been the CEO in everything but name, going back to the 2003 Kmart acquisition and the 2004 creation of Sears Holdings. This simply gets rid of the charade that Sears can hire somebody with a strong merchandising or retail operating background to run the company. At a time when Sears could actually gain share at JCP’s expense, this is a big step backward.


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