Sears Holdings Names Robert A. Schriesheim Chief Financial Officer

HOFFMAN ESTATES, Ill., Aug. 16, 2011 /PRNewswire-FirstCall/ -- Sears Holdings (NASDAQ: SHLD) announced today that Robert A. Schriesheim will join the company as executive vice president and chief financial officer.  Mr. Schriesheim, who starts with the company today as executive vice president, will assume his responsibilities as CFO effective Monday, Aug. 22.

Mr. Schriesheim, 51, brings a diverse set of experiences as a CFO and as a leader in navigating companies with strong brands through successful transformations to become stronger, more successful organizations.  Mr. Schriesheim most recently was chief financial officer for Hewitt Associates, leading the company's global financial and administrative roles until its merger with Aon Corporation.

Prior to joining Hewitt, Mr. Schriesheim was EVP, CFO and a director of Lawson Software, the world's third largest publicly traded enterprise resource planning software company, where he helped lead a five-year corporate transformation.  During this period Rob's strategic, operational, and financial skills helped Lawson drive material improvement in gross margins and triple its operating margins, while investing in new products, quality upgrades and acquisitions to fund growth initiatives.

"We're delighted to have Rob join our team at Sears Holdings.  Rob is a proven global chief financial officer and brings excellent experience at driving operating performance and delivering value in complex organizations undergoing rapid change," said Lou D'Ambrosio, CEO and president of Sears Holdings.  "Rob brings a passion for performance, creating value, and developing people.  His leadership and financial acumen, together with his track record of delivering results, will be important skills as we accelerate our transformation and deliver compelling value to our customers, associates, and shareholders."

Mr. D'Ambrosio added, "I'd also like to personally thank Bill Phelan, who's been leading the financial organization as acting CFO. Bill is a valued member of our leadership team, and I look forward to continuing to work closely with him."

"I am thrilled to be working with Lou and the team. Sears Holdings has a unique portfolio of assets, a deep heritage, and great potential. Transformations are energizing when you can leverage powerful brands, work with a talented and committed team, and focus on execution and delivering results," said Mr. Schriesheim.  "The opportunity to optimize our business model by leveraging our historical franchise and capitalizing on innovative trends is exciting."

Mr. Schriesheim and his family are longtime residents of the Chicago area.  He holds a master's degree in business administration from the University of Chicago Booth School of Business and a bachelor's degree in chemistry from Princeton University.  He is also a member of The Economic Club of Chicago and The Chicago Club.  He has served on numerous public corporate boards and is currently a director of Skyworks Solutions, Inc.

Mr. Schriesheim joins other senior leaders coming to Sears Holdings in the past month, including Edgar Huber, who now leads Lands' End, and Monica Woo, the new chief marketing officer for Sears.

About Sears Holdings Corporation

Sears Holdings Corporation is the nation's fourth largest broadline retailer with over 4,000 full-line and specialty retail stores in the United States and Canada.  Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, consumer electronics and automotive repair and maintenance.  Sears Holdings is the 2011 ENERGY STAR® Retail Partner of the Year.  Key proprietary brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington brands.  It also has the Country Living collection, which is offered by Sears and Kmart.  We are the nation's largest provider of home services, with more than 11 million service calls made annually.  Sears Holdings Corporation operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation.  For more information, visit Sears Holdings' website at www.searsholdings.com.

NEWS MEDIA CONTACT:
Sears Holdings Public Relations
(847) 286-8371

SOURCE Sears Holdings

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