Sears CEO Steps Down, Replaced by Chairman

Current Sears Holdings CEO Louis J. D’Ambrasio will step down from the position effective Feb. 2 because of “family health matters.”

He will be replaced by current chairman Edward S. Lampert, who will hold both titles.

“We understand and respect his personal decision to step down,” said Lampert in a statement. “The entire Sears Holdings family wishes Lou and his family the very best.”