Sears Names New Financial Chief
October 14 2016 - 7:40AM
Dow Jones News
Sears Holdings Corp. said Friday that Jason Hollar would be its
new financial chief.
Mr. Hollar replaces Robert Schriesheim, who the company said in
May was leaving.
Sears has reported declining sales as shoppers have continued to
shift spending online and away from brick-and-mortar stores. Sears
has been stumbling recently through efforts to transform itself in
a bid to return to profitability, focusing on assortment, sourcing,
pricing and inventory-management practices—sometimes at the expense
of sales. Sears posted annual losses in each of its past six fiscal
years.
Mr. Hollar, who joined Sears in October 2014, previously worked
at Delphi Automotive PLC and Navistar International Corp.
The company also said its internal audit, treasury and the
capital-markets finance functions would be consolidated under
Robert Riecker, who has served as controller since 2011, and will
continue as controller and head of capital-markets activities.
Sears shares, which have fallen 23% in the last three months,
were inactive in premarket trading.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
October 14, 2016 07:25 ET (11:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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