Sephora Names Former Sears Canada CEO as New Chief Executive

Calvin McDonald, the former CEO of Sears Canada (OTCPK: SEARF), has been named president and CEO of Sephora Americas according to a company announcement on Thursday, October 24. McDonald will step into the role at the LVMH-owned beauty company on January 1, 2014. He is succeeding David Suliteanu who stepped down after 13 years to become CEO of Kendo Brands, another division of LVMH (OTCPK: LVMUY), which creates and acquires new beauty brands.

"Calvin McDonald has established himself as a visionary and highly talented industry leader," said Christopher de Lapuente, CEO of Sephora Global in a statement. "We are delighted to welcome him to Sephora Americas. He will focus on building on the extraordinary growth of the business in new and existing markets and continue Sephora's exceptional track record of industry leadership driven by David Suliteanu."

In late September, Sears Canada announced McDonald's resignation as president and chief executive to take a position with an unidentified "leading international company" reports The Wall Street Journal. McDonald had been with Sears Canada since June 2011 and is credited with turning around the business using innovative strategies that improved product assortment and company culture. His efforts helped Sears Canada report positive comparable store sales in apparel for three quarters in a row.

For more see:
-This Sephora press release
-This Wall Street Journal article

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