Lampert's Right-Hand Man Crowley Exits Ahead of Lock-Up Expiration
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Eddie Lampert, chairman of Sears Holdings (Nasdaq: SHLD), has lost his second and command.
According to reports out Wednesday, William Crowley has decided to leave the fund after 13 years with Lampert, notes the NY Post. Crowley's last position was COO of the firm, ESL Partners.
Reasons behind the move as well as plans for replacement weren't immediately available.
Speculation surrounds whether or not the move was tied to Lampert moving shop to Miami's South Beach, from its current location in Greenwich, CT. Lampert recently shelled out $40 million for an estate north of Miami.
The Post also highlighted how the move is untimely, given that a 5-year lock-up on Lampert's fund expires this month.
Crowley is expected to remain director of AutoZone (NYSE: AZO) and Chairman of Sears Canada, of which Lampert has a stake in both.
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According to reports out Wednesday, William Crowley has decided to leave the fund after 13 years with Lampert, notes the NY Post. Crowley's last position was COO of the firm, ESL Partners.
Reasons behind the move as well as plans for replacement weren't immediately available.
Speculation surrounds whether or not the move was tied to Lampert moving shop to Miami's South Beach, from its current location in Greenwich, CT. Lampert recently shelled out $40 million for an estate north of Miami.
The Post also highlighted how the move is untimely, given that a 5-year lock-up on Lampert's fund expires this month.
Crowley is expected to remain director of AutoZone (NYSE: AZO) and Chairman of Sears Canada, of which Lampert has a stake in both.
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