Sears Canada is losing its third chief executive officer in less than two years.
The struggling retailer has announced that Ronald Boire will depart at the end of this summer – less than a year after taking on the job.
Barnes & Noble has announced Boire will lead the bookseller’s retail business when the company splits up its retail and college textbook businesses later this summer.
Previous Sears Canada CEO Douglas Campbell left the company last September after only about a year in the position.
He got the job after the sudden departure of Calvin McDonald in September 2013 in the midst of a multi-year turnaround plan for the national department store chain.
Sears Canada says the chairman of its board of directors, Brandon Stranzl, will take on a greater leadership role immediately.
He says he’ll work closely with employees and business partners as Sears Canada works to return to profitability.
The company reported a $59.1-million net loss for the first quarter as revenues dropped 9.7 per cent from the same period a year earlier.
Comments