Sears Holdings (SHLD) Names D'Ambrosio CEO
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After the close, Sears Holdings (Nasdaq: SHLD) named Lou D'Ambrosio CEO/President effective Thursday, February 24, 2011.
Mr. D'Ambrosio was chief executive of Avaya Inc. from 2006 to 2008 and served on the company's Board of Directors. He stepped down from the CEO post in 2008 for medical reasons.
D'Ambrosio has been a consultant to the Board of Directors of Sears over the past six months.
Chairman of the Board of Directors, Edward S. Lampert said, "From the beginning of our CEO search, we were determined to find a leader with information and technology experience who could catalyze the transformation of our portfolio of businesses in the context of the evolution of the retail industry that is occurring more broadly. Having worked closely with Lou and observing his business acumen, compelling leadership style, performance orientation and Customer First approach, I am confident that Lou is the right person to lead and transform Sears Holdings. Lou is a proven winner and I am excited to have him as the leader of our company."
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Mr. D'Ambrosio was chief executive of Avaya Inc. from 2006 to 2008 and served on the company's Board of Directors. He stepped down from the CEO post in 2008 for medical reasons.
D'Ambrosio has been a consultant to the Board of Directors of Sears over the past six months.
Chairman of the Board of Directors, Edward S. Lampert said, "From the beginning of our CEO search, we were determined to find a leader with information and technology experience who could catalyze the transformation of our portfolio of businesses in the context of the evolution of the retail industry that is occurring more broadly. Having worked closely with Lou and observing his business acumen, compelling leadership style, performance orientation and Customer First approach, I am confident that Lou is the right person to lead and transform Sears Holdings. Lou is a proven winner and I am excited to have him as the leader of our company."
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