Sears Canada CFO steps down

Sears (NASDAQ:SHLD) Canada announced that E.J. Bird, executive VP and CFO, will be leaving the company on June 30. Bird has served in the role as CFO since March 2013.

Sears is currently searching for someone to fill the vacancy and Billy Wong, senior VP, finance, will work closely with Bird to help with the transition.

"E.J. has played an important role at Sears Canada over the past decade, including the last three years as a member of the executive leadership team," said Brandon Stranzl, executive chairman, Sears Canada. "From 2006 until 2013, as chair of the audit committee and lead director, he held a significant position on the board of directors. Over the last three years, E.J. has served as our CFO and played a critical role in the development and execution of many of the company's strategic initiatives over that time. We thank him sincerely and wish him well in the future."

At the close of 2015, the Canadian unit appointed Carrie Kirkman as president and chief merchant. Kirkman was tasked with refocusing Sears Canada to heighten the multichannel customer experience and to help return the chain to profitability.

"I believe the company's leadership is in strong hands and I look forward to seeing both the benefits from all the efforts underway to improve the company's business as well as the company re-establishing a strong position in the Canadian retail landscape for years to come," Bird said.

Greatly suffering over the last few years, Sears Canada announced in 2014 that it would cut 1,600 jobs and restructure during a three-year turnaround plan. Later that year, Sears' U.S. owner, Edward Lampert, tried to sell off stakes in Sears Canada in order to raise $380 million while divesting key store leases. At the close of 2014, Lampert had to loan Sears $400 million from his own hedge fund, ESL Investments.

For more:
- see this Sears Canada press release

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