Sears Holdings Corp. Chairman Eddie Lampert has demoted Sears CEO Alan Lacy, replacing him with former Kmart CEO Aylwin Lewis, while expanding his own role in day-to-day merchandising and marketing
duties. Analysts and industry watchers lambasted Mr. Lampert's move to take a more active role in merging marketing at Sears and Kmart, saying the hedge-fund manager and financier, whose company ESL
Investments orchestrated the Sears/Kmart merger, should stick to what he knows best.
Read the whole story at Adage.com, September 8, 2005 »