Sears says online chief resigns, key member of management team

Reuters News
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Posted: Dec 24, 2014 2:51 PM

(Reuters) - The head of Sears Holdings Corp's online operations and a key member of Chief Executive Eddie Lampert's management team has resigned and will leave the company in February to pursue a new opportunity, the retailer said.

Imran Jooma, an executive vice president in charge of online, marketing, pricing and financial services, has been at the center of the loss-making retailer's efforts to use technology and innovative services to revive itself.

Jooma handed in his resignation on Dec. 17 and his last day with the company will be Feb. 6, according to a securities filing on Tuesday.

Spokesman Chris Brathwaite said Lampert told employees in a message on Tuesday that Jooma would assist in the transition to new leadership over the business segments he was overseeing. Sears has not named a replacement.

Jooma joined Sears in 2007 after senior e-commerce positions at electronics retailer Circuit City and OfficeMax, according to his LinkedIn profile.

The move comes as Sears is attempting to restore profitability by shrinking its network of stores and promoting the integration of its bricks-and-mortar and online capabilities and a membership program called ShopYourWay. Jooma has played a central role in pushing those strategies.

So far the efforts have not translated into profits. The company has lost more than $6 billion over the past four years, including $548 million in the most recent quarter. It has been selling off assets to generate cash.

(Reporting by Nathan Layne; Editing by David Gregorio)