Sears Begins Search for a New CEO

Hoffman Estates, IL, Janary 28. 2008-- Sears Holdings Corp. President and CEO Aylwin B. Lewis will step down Feb. 2 and be replaced on an interim basis by W. Bruce Johnson, executive vice president of supply chain and operations.

Lewis also leave the Sears board. Sears said it will immediately begin a search for a new CEO.

"We are entering a new phase in Sears' evolution as a multi-channel retailer, as reflected by the new operational structure we recently announced, and the board has determined that now is the right time to put in place new leadership to take the company forward," said Chairman Edward S. Lampert, in a statement.

Sears announced last week that it would alter its organizational structure to improve performance. The new organization will include five units: operating businesses, support businesses, brands, online and real estate.

Johnson joined Kmart in 2003 as senior vice president of supply chain and operations.