HOFFMAN ESTATES, IL-Sears Holding Corp. showed Tuesday that it’s not messing around about its turnaround plan, hiring Ron Boire as EVP, chief merchandising officer and president of the Sears and Kmart store formats. Boire has extensive experience in shoring up struggling chains, formerly serving as CEO of Brookstone, president of Toys “R” Us North America and EVP, global merchandise manager for Best Buy.
In his new role, Boire will lead merchandising and retail stores for the Sears and Kmart brands for the local company. Sears posted poor sales during the holidays, and recently announced it will close up to 120 of its 4,000 stores. Seventy-nine of the stores have already been named.
Lou D’Ambrosio, Sears Holdings’ CEO and president, said in a statement that Boire should be able to help with the company’s turnaround efforts. “We are in the midst of a transformation of our business, from top to bottom,” D’Ambrosio said. “We have made some difficult decisions recently and will make the hard choices necessary to turn our business around going forward…We will continue to invest in our people, ensuring that we have the talent and skills necessary to effect this transformation.”
Boire said in the statement that he understands the company’s challenges, but is also persuaded by the retailer’s opportunities and strengths. “We have a lot to work with to improve our business and delight our customers,” he said. “It is also important to have a board of directors and shareholders who are truly long-term orientated and who have made such a significant financial commitment in working to transform this iconic company.”
Brookstone acknowledged Tuesday that Boire has resigned. Adam Suttin, a partner of J.W. Childs Associates, said in a statement Brookstone has been fortunate to have Boire’s leadership over the past two years. Brookstone, which has 300 stores in the United States and Puerto Rico, is owned by J.W. Childs, OSIM International Ltd. and Temasek Holdings Ltd.
Jackson Tai, Brookstone’s chairman of the board, will serve as interim president and CEO while the company starts a search for a successor. Tai was vice chairman and CEO of DBS Group Holdings until 2008.
Also at Brookstone, James Speltz has been appointed as the company’s VP and COO. He was formerly the VP, business development and supply chain.
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