Help Wanted: Sears President

Sears, Roebuck and Co. (Hoffman Estates, Ill.) has established a new, expanded leadership position: president of Sears Retail.

The announcement coincides with another announcement, that Mark Cosby, executive vp and president of full-line stores, is leaving the company “to explore other opportunities,” effective immediately.

The new position will include responsibility for all existing U.S. Sears full-line and specialty retail stores and leadership of the company’s aggressive new off-mall growth agenda. Sears expects to operate approximately 70 new off-mall stores by the end of next year, including 12 to 14 Sears Grands and a new mid-size format that Sears announced when it agreed to purchase up to 61 new locations (54 from Kmart and seven from Wal-Mart). In addition, the business president will oversee merchandising, supply chain management and marketing.

Sears said it will immediately commence an external search for the position while chairman and ceo Alan Lacy performs the functions on an interim basis.

“We are establishing this important new position as part of the next phase of Sears’ strategic plan, which involves execution of our off-mall growth program, full integration and alignment of the retail organization and the continuing turnaround of our mall-based stores,” Lacy said.