Aylwin Lewis out as Sears president, ceo   

Hoffman Estates, Ill. – Six days after announcing a streamlined managerial structure, Sears Holdings Corp. said good-bye to president and ceo Aylwin Lewis, who will step down Feb. 2. Operations chief Bruce Johnson has been tapped for interim ceo.

The $50 billion retailer has begun a search for its next permanent ceo, the company said. Lewis will also resign from the board of directors.

Chairman Edward Lampert lauded Lewis for his “key role in the integration of Kmart and Sears and in implementing important initiatives to enhance the profitability of the combined business.”

Lewis, who was president and ceo of Kmart at the time of the March 2005 merger of Kmart and Sears, was elevated to president and ceo of Sears Holdings in September 2005.

Johnson, who joined Kmart in 2003 as svp, supply chain and operations, was named evp supply chain and operations upon the merger. He previously worked for French hypermarket chain Carrefour and for Colgate-Palmolive.

Separately, Sears Holdings said in an SEC filing yesterday (Jan. 27) that, in light of last week’s amendment by Restoration Hardware to a merger agreement with Catterton Partners that slashed the price of that proposed acquisition to $4.50 per share, Sears no longer intends to pursue acquisition of RH at its previous offer of $6.75 per share. Sears Holdings said it is evaluating the amended offer and will continue to mull its options. Sears Holdings owns about 13.6% of the voting shares of Restoration Hardware.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!