Lacy will leave post at Sears, Kmart parent
By Furniture Today Staff -- Furniture Today, July 16, 2006
Hoffman Estates, Ill. — Alan Lacy, former Sears, Roebuck CEO and current vice chairman of Sears Holdings Corp., said last week he will leave the company July 29.
Lacy was named vice chairman of Sears Holdings, the holding company for Sears, Roebuck and Kmart, last September. Before then, he had been chairman and CEO of Sears, Roebuck since late 2000, and had worked for the company since 1994.
He said he also will resign from the boards of Sears Holdings and Sears Canada.
"I want to thank Alan for his many contributions to the company," said Sears Holdings Chairman Edward Lampert. "Under Alan's leadership, Sears, Roebuck and Co. took the steps necessary to create a more competitive company. Most importantly, he recognized that the merger of Sears and Kmart would be a powerful opportunity to significantly improve the strategic and financial position of both franchises."
Lampert said Lacy has been "focused on the integration of Sears and Kmart as well as his responsibilities as the chairman of the board of Sears Canada, which has seen its stock price double since he was named to that post."
Lacy said he was proud of what the company has accomplished.
"We have faced many challenges and yet have been able to significantly change the face of Sears and create significant value for shareholders. In doing so, I have been deeply impressed by and grateful for the dedication and capability shown by our associates during this period of rapid change," he said.
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Lacy to leave Sears, Kmart parent July 29
Jul 12, 2006
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