Mar 27, 2012
Sears loses another high profile executive
Mar 27, 2012
Sears Holdings Corp's Chief Marketing Officer Monica Woo left the struggling chain earlier this year after just five months, dealing yet another blow to the retailer as it tries to turnaround its business.
On Monday, financial services company Mozido named Woo as its global chief marketing and strategy officer. Her departure from Sears came just months after the parent of Sears department stores and the Kmart discount chain appointed Woo, an e-commerce veteran, as its chief marketing officer.
Woo is not the only high profile executive to leave Sears lately. John Goodman, a seasoned retail executive who was executive vice president of the apparel and home unit, left earlier this year. Dev Mukherjee, president of the home appliances business at Sears, left the Hoffman Estates-based chain in March.
Woo resigned from Sears on Jan. 20, a source who has spoken with Woo told Reuters. Sears is planning to find a replacement, company spokesman Chris Brathwaite said in an email.
When Woo joined Sears in August, analysts hoped the ecommerce veteran's experience would help Sears boost its online business. One analyst even described her as "a hotter property" than Chief Executive Lou D'Ambrosio, who took the helm in February 2011.
Sales at the company, where hedge fund manager Edward Lampert is chairman and the biggest shareholder, have fallen every year since it was formed through the merger of Sears and Kmart in 2005.
Before joining Sears, Woo was the chief marketing and strategy officer of U.S. online grocer FreshDirect. Woo has also held senior positions in e-commerce, financial services and consumer packaged goods, including president of the consumer floral division of 1-800-Flowers.com Inc, CMO of Deutsche Bank AG's online retail bank in Latin America and president of global brands for Bacardi Ltd.
Reporting By Dhanya Skariachan; Editing by Tim Dobbyn
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