Sears Holdings to Introduce Revised Internal Management and Organizational Structure

Sears Holdings to Introduce Revised Internal Management and Organizational
Structure

HOFFMAN ESTATES, Ill., Jan. 22 /PRNewswire-FirstCall/ -- Sears Holdings
Corporation (Nasdaq: SHLD) today announced that it is implementing an
organizational structure and operating model designed to simplify the way its
business lines are managed and create greater autonomy and focus for the
business unit management teams.
The new structure is built on five types of business units that enable
each organization to focus on their core categories and capabilities:
operating businesses, support, brands, online and real estate. The operating
business units will consist of the company's current lines of business such as
home appliances, electronics, and apparel. The support units will include the
functions that provide operational and administrative support to the operating
businesses including marketing, store operations, customer strategy and
finance. The brand units will be responsible for growing the value of Sears
Holdings brand portfolio. The real estate business unit and an online business
unit will focus on increasing the sales productivity of the company's physical
and virtual real estate.
Each business unit will have a designated leader and an advisory group
comprised of senior Sears Holdings executives who will provide direction and
oversee the business unit's performance. The leadership of each unit will have
a separate, internal profit and loss statement to allow greater focus on
managing the profitability of the unit, and rapid decision making to
capitalize on opportunities and mitigate risks.
"We are convinced that our businesses can operate more efficiently and
effectively and we continue to look for ways to make that happen," said Sears
Holdings Chairman Edward S. Lampert. "By creating smaller focused teams that
are clearly responsible for their units, we increase autonomy and
accountability, create greater ownership and enable faster, better decisions.
Our board of directors, our senior leadership team and I believe this will
make Sears Holdings a more responsive and competitive company in the future."
Mr. Lampert added: "At the time of the merger, a centrally managed
structure was essential to control costs and focus on integrating the two
companies. Now, it's time to empower individual businesses and teams to focus
on the customer experience and performance. Stronger business units will be
better able to support each other, build a stronger company, and be more
attractive to partners and talent. We are not doing this overnight; this is a
phased transition to enable our business units and their key partners to learn
how to leverage the new model."
Forward-Looking Statements
This press release contains forward-looking statements about our
expectations regarding the introduction of new organizational structure and
operating model. Forward-looking statements are subject to risks and
uncertainties that may cause our actual results, performance or achievements
to be materially different from any future results, performance or
achievements expressed or implied by these forward-looking statements. Such
statements are based upon the current beliefs and expectations of our
management and are subject to significant risks and uncertainties. Risks and
uncertainties include the possibility that we fail to properly implement and
realize the expected benefits from the new organizational structure and
operating model, that we fail to offer products and services that satisfy the
desires of our customers, or other factors outside the control of Sears
Holdings. Actual results may differ materially from those set forth in the
forward-looking statements. We intend the forward-looking statements to speak
only as of the time made and does not undertake to update or revise them as
more information becomes available.
About Sears Holdings Corporation
Sears Holdings Corporation is the nation's fourth largest broadline
retailer with over $50 billion in annual revenues and 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

Sears Holdings Public Relations, +1-847-286-8371