Sears Names New CEO
Sears' parent company announced Wednesday that it has named Lou D'Ambrosio its new CEO. D'Ambrosio was the former CEO of Avaya Inc.
The hire follows a nearly three-year search.
"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," Sears Holdings Chairman Edward Lampert said in a statement.