Headlines

Sears Canada Chairman Terminated

Board names Sears Canada and Sears, Roebuck executives as replacements

Published

20 years ago

August 27, 2004

admin1

The contract of Mark Cohen as chairman and ceo of Sears Canada Inc. (Toronto), has been terminated by the board as a result of “strategic differences about the future direction of the business.”

The board appointed Brent Hollister, current president and coo, as president and ceo. And Glenn Richter, executive vp and cfo of majority stockholder Sears, Roebuck and Co. (Hoffman Estates, Ill.), has been named board chairman of Sears Canada while retaining his Sears, Roebuck role. Sears, Roebuck owns approximately 54 percent of Sears Canada, an independent, publicly traded company.

“Sears Canada can be in a strong position to grow, through both its existing mall-based retail presence and through a comprehensive off-mall growth plan,” said Sears, Roebuck chairman and ceo Alan Lacy. “We believe there are good growth prospects for the business and I look forward to the plans that will be developed under Brent’s and Glenn’s leadership. We are pleased to maintain our interest in the company.”

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design