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Sears Holdings Names New SVP Finance as CFO-Elect

 Michael D. Collins expected to become Sears Holdings Next Chief Financial
                                  Officer

    HOFFMAN ESTATES, Ill., Oct. 13 /PRNewswire-FirstCall/ -- Sears Holdings
Corporation (Nasdaq: SHLD) announced that Michael D. Collins joined the
company today as senior vice president, finance. The Company expects that
Mr. Collins will succeed J. Miles Reidy as Sears Holdings' chief financial
officer prior to the end of the 2008 fiscal year. Mr. Reidy, who intends to
step down later in the year as the Company's CFO in order to attend to a
family issue, will work with Collins to facilitate an orderly transition.

    Collins most recently was the Senior Vice President, Planning &
Analysis, at General Electric Corporation's NBC Universal Division.
Previously, he worked in a variety of finance positions in his eighteen
year career at GE. Collins graduated from the University of Pennsylvania,
with a BS in Economics, majoring in accounting. Collins, who is a C.P.A.,
began his career at Arthur Andersen & Co.

    "We welcome Mike to our company," said Bruce Johnson, interim CEO and
president. "We have asked him to continue to build a rigorous and analytic
finance function. With our new operating model, we need to ensure that our
business unit leaders have the detailed information and finance support to
drive effective decision-making."

    Bruce added, "We appreciate and respect Miles' decision to focus on his
family. We wish him and his family well, and thank him for his
contributions to our company. We will particularly miss Miles' thoughtful
advice and passion for analytic clarity."

    Miles Reidy said, "I consider myself to have been very fortunate to
have had the opportunity to be the CFO of Sears Holdings. I am very
confident that Mike Collins will continue to enhance the business acumen
and financial discipline of the company."

    About Sears Holdings Corporation:

    Sears Holdings Corporation is the nation's fourth largest broadline
retailer, with approximately $50 billion in annual revenues, and with
approximately 3,800 full-line and specialty retail stores in the United
States and Canada. Sears Holdings is the leading home appliance retailer as
well as a leader in tools, lawn and garden, home electronics and automotive
repair and maintenance. Key proprietary brands include Kenmore, Craftsman
and DieHard, and a broad apparel offering, including such well-known labels
as Lands' End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and
Covington brands. It also has Martha Stewart Everyday products, which are
offered exclusively in the U.S. by Kmart and in Canada by Sears Canada. The
Company is the nation's largest provider of home services, with more than
13 million service calls made annually. For more information, visit Sears
Holdings' website at http://www.searsholdings.com.


SOURCE Sears Holdings Corporation





 

 
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