Sears Canada CEO Resigns, Replaced By COO Campbell

Sears Canada Inc. announced the appointment of Douglas C. Campbell as president and CEO, and as a member of the board of directors, effective Sept. 24, in response to the resignation of CEO Calvin McDonald. Campbell joined Sears Canada in March 2011 and was appointed executive vice president and COO on November 16, 2012. McDonald informed the board of directors of the corporation that he is resigning from his position and from the Board to pursue an opportunity with a leading international company.

As COO, Campbell was responsible for retail store operations, logistics, replenishment, information technology, corporate procurement, and international sourcing. Prior to joining Sears, Mr. Campbell was a principal with Boston Consulting Group, where he led turnaround projects that worked across a broad sector of industries, including retail, manufacturing, packaged foods, chemicals ad pharmaceuticals.

“I am excited about the opportunity to lead a company with such a great brand and history, and to continue to improve the performance of Sears,” commented Mr. Campbell.  “I am eager to move us forward, to work closely with our management team and to continue to engage our customers and our 25,000 associates to better serve families and communities across Canada.”

William C. Crowley , chairman of the board, Sears Canada Inc. said, “Doug’s disciplined approach has been instrumental in managing costs and driving efficiencies. We look forward to his leadership as we continue to improve profitability across the business.  We believe that the future remains bright for a more focused and competitive Sears Canada.

“We would also like to thank Calvin for his leadership and merchandising skills in light of the challenges facing the industry,” continued Mr. Crowley, “and we wish him every success in his new role.”

“I want to thank the associates of the Company for all of their hard work during my time at Sears Canada,” said Mr. McDonald. “It has been an honor to lead an iconic Canadian retailer, and I look forward to your continued success”.