Sears CEO D’Ambrosio to step down in February HOFFMAN ESTATES, Ill. – Sears Holdings Corp. has announced that Lou D’Ambrosio will step down as chief executive officer due to family health matters effective February 2, which marks the end of the...
Lou D Ambrosio
Back in February of last year when Sears Holdings named Lou D'Ambrosio as its new chief executive, it was clear that the decision was made because of his background in technology.
Sears Holdings Corp.'s appointment of a new CEO rich in technology expertise but short on retail experience is leaving many wondering what direction the owner of the struggling Sears and Kmart stores is heading. The appointment of Lou D'Ambrosio came just hours before Sears reported another weak quarter, even though results from competitors Target Corp., Kohl's Corp. and Home Depot this week show shoppers are spending more.
Sears has announced that Lou D’Ambrosio will assume duties today as chief executive officer and president. D’Ambrosio, a former CEO of telecommunications company Avaya Inc., was named to the posts yesterday. Over the last six months, he worked as a consultant to the Sears board on strategic and operational matters, the company said.