Sears Holdings Corp. has announced that Louis D’Ambrosio will step down as CEO due to family health matters at the end of the company’s fiscal year on February 2. At that time, Edward Lampert will assume the role of CEO of Sears Holdings in addition to his role as chairman of the board of directors.
D’Ambrosio will remain on the board until the company’s next annual meeting, to be held in May, and will be available to assist with the transition.
“The board greatly appreciates Lou’s strong leadership in accelerating the transformation of Sears Holdings, and we understand and respect his personal decision to step down,” said Lampert. “Lou has guided Sears Holdings during a time of rapid industry change to become a more customer and member-focused company, and positioned us to lead in integrated retail. His contributions to our company have been significant, and the entire Sears Holdings family wishes Lou and his family the very best.”