Sears Canada names Ronald Boire acting CEO

Sears has announced that Ronald Boire will take over as president and CEO of Sears Canada, after acting in the role for the struggling business since October 15, 2014. Boire was previously executive VP, chief merchandising officer and president of Sears and Kmart for the company's U.S. operations.

"The board of directors believes Ron has the capabilities, experience and leadership that Sears Canada needs at this time," William Crowley, chairman of the board for Sears Canada, said in a statement.  "He is assembling a team, developing an approach, and instilling a culture that is necessary to improve the business."

Boire brings experience from a wide array of executive retail positions to his new role. Before joining Sears in 2012 he was president and CEO at Brookstone starting in 2009, and before that served as president, North America for Toys R Us. From 2003 to 2006 he was executive VP, global merchandise manager at Best Buy, and previously spent 17 years at Sony Electronics in various senior roles.

"I appreciate the confidence that the board of directors has shown in me and in the team that is working with me to drive the transformation of the company," said Boire of his new position. "I am aware of the challenges facing the evolving Canadian retail marketplace, and Sears Canada in particular. I understand what needs to be done and I am confident that our associates are engaged and focused on the drivers of our future success." Press release