The board should’ve fired this CEO long ago.
Closing retail stores just before Christmas.
Sounds like a brilliant strategy.
He’s effectively the largest shareholder (he’s the chairman and CEO of RBS Partners, L.P., the largest shareholder).
From what I’ve read, the board and the CEO were in cahoots, and have run this once proud retailing giant into the ground. They’re already completely gone from Canada - no great loss considering the state the stores were in.
Sad to see, Sears was once my go-to place for many things, but the shopping experience went down steadily over the last couple of decades.
It’s not the CEO...it’s the Board that is the problem.
The CEO’s job is to do the will of the board.
The strange thing is that Sears was Amazon before Amazon.