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Richard Maltsbarger, COO, has left the company, effective immediately.
Sears' sales have been plummeting quarter after quarter, causing it to burn through cash and forcing Lampert to continuously infuse it with short-term loans.Although Kmart sells a number of the same types of products as Sears, the mini-Kmart will feature items you can't get at Sears, like cleaning supplies, pet supplies, groceries, and more.Similarly, the mini-Sears shops inside Kmart will sell appliances.• Executive VP, Supply Chain: This newly created role will oversee distribution centers, logistics, global sourcing, transportation and delivery services. • Executive VP, Chief Financial Officer: As previously announced, Marshall A. • Executive VP, General Counsel & Corporate Secretary: Bill Mc Canless will remain in his current role as executive VP, general counsel and corporate secretary. Brian Peace, senior VP, administration, will report to Mc Canless. • President & CEO, Canada: Sylvain Prud'homme will remain in his current role as president & CEO, Canada, where he will continue to oversee operations in Canada and Mexico. Retailers use them to try to generate a halo effect from the opening of a popular brand's boutique inside their stores.Mike West, current senior VP, supply chain operations, will serve in the role on a transitional basis while an external search is underway. Croom plans to retire from the company, effective Oct. The hope is that the appeal of both brands can be improved by the synergies of joining forces.
Rarely does that create a winning combination, and Sears Holdings is a prime example of that.