Sears Holdings announces CEO is stepping down
HOFFMAN ESTATES – Sears Holdings Corp. announced late Monday that CEO Louis J. D'Ambrosio is stepping down next month due to health issues involving his family.
The company, which operates Sears and Kmart stores, said D'Ambrosio will be replaced by company chairman and its largest shareholder, Edward Lampert. D'Ambrosio will remain on the board until the company's annual meeting in May.
The nature of the health issues affecting D'Ambrosio's family was not disclosed.
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