Sears Holdings has promoted Jason Hollar to fill the CFO position, effective immediately.
Hollar replaces Robert Schriesheim, who announced in May that he would be departing from his position with the company to focus on other business interests, according to a company statement.
The 43-year-old Hollar joined Sears in October 2014 as senior VP of finance overseeing the financial planning and analysis function, the business finance relationship with centralized finance and procurement.
RELATED: Lampert loans Sears $300M
Before joining Sears, Hollar was VP and corporate controller at Delphi Automotive but spent the bulk of his career at Navistar International.
The company also announced it has consolidated responsibility for internal audit, treasury and the capital markets finance functions under Robert Riecker, 52, who has served as VP and controller since 2011 and will continue as controller while also serving as head of capital markets activities.
RELATED: Sears launches 'Holiday Guarantee'
"We are fortunate to have a deep bench of finance leadership as Sears Holdings continues to transform its business to an asset-light organization centered on its Shop Your Way program powered by our integrated retail innovations," said Eddie Lampert, chairman and CEO. "In his time with the company, Jason has been focused on driving efficiencies and creating value as our company undergoes rapid change. His leadership and financial acumen are important skills as we accelerate our transformation and deliver for our members, associates and shareholders."