Former IBM Exec is New Sears Holding CEO

HOFFMAN ESTATES, ILL. - Lou D'Ambrosio, who has worked as a consultant with Sears Holding's board of directors, has been named the company's ceo.
      Bruce Johnson has been acting as interim ceo since January 2008, when then-chief Aylwin Lewis stepped down. Johnson has been named executive vp for off-mall businesses and supply chain.
     D'Ambrosio was chief executive of business communications firm Avaya Inc. from 2006 to 2008, exiting that post for health reasons. Prior to joining Avaya in 2002, he spent 16 years at IBM.
     "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," said company chairman Eddie Lampert.

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