Sears Canada (TSX: SCC), which has slashed more than 3,000 jobs in less than two years, has at least one new employee who will be sticking around for a while.
The mega-retailer announced January 26 it has appointed acting CEO and president Ron Boire to the company’s top job on a permanent basis.
Boire joined Sears Holdings (NASDAQ:SHLD) in January 2012 as its chief marketing office and president of Sears and Kmart formats before being appointed acting president and CEO of the Canadian operations in October 2015.
He previously worked at Sony Electronics for 17 year and had extended stints at Best Buy, Toys R Us and Brookstone, the latter of which he served as president and CEO for about two years.
Sears Holdings announced in early October it would be selling off most of its 51% stake in the Canadian arm of its operations to raise as much as $380 million.
The decision from the parent company came less than a week after Sears Canada’s ex-CEO, Douglas Campbell, said he would resign from his position after a year on the job.
Sears Canada announced it would be closing five stores and slashing about 1,000 jobs in October 2013. The following month, the company said it would cut another 800 jobs. By January 2014, another 1,600 positions were axed.
"I am aware of the challenges facing the evolving Canadian retail marketplace, and Sears Canada in particular,” Boire said in a statement.
“I understand what needs to be done and I am confident that our associates are engaged and focused on the drivers of our future success."
