Sears Canada responds to McDonald's resignation
Sears Canada spokesperson Vincent Power has responded to HCN's request for comment over the departure of CEO Calvin McDonald, who sources say left over a disagreement with Sears Holding Corp. as well as disappointment with the struggling retailer's progress.
"Mr. McDonald resigned from Sears to pursue an opportunity with a leading international company," said Power. He did not offer further comment regarding McDonald, but instead focused on the appointment of Doug Campbell to the position of president and CEO.
"He helped turn our major appliances business positive when he joined us in March of 2011," he said. "The category had been on a period of decline, and appliances are a key category for us. Doug 'got in the trenches,' working closely with the merchandising buying team, our associates in the stores, and our suppliers to arrive at solutions that could turn the business around. He was successful and today the effects of what he did for that business are still very evident. He brings merchandising experience and leadership ability to his new post, and we are glad to have him in this most senior position."
McDonald left in the midst of a three-year restructuring initiative, which left some investors worried that the sudden shift would derail the retailer's efforts.