|Maureen McGuire, the former IBM VP for strategy and marketing, has been named Sears' exec VP and chief marketing officer.
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Chairman Edward Lampert
The appointment follows the unexpected takeover almost two months ago of marketing and advertising by Sears Holdings Chairman Edward Lampert, who grew frustrated with lackluster results in merging the combined $55 billion retail businesses of Sears and Kmart.
Ms. McGuire will oversee both the Sears and Kmart brands, with Sears CMO Joan Chow reporting directly to her as well as the CMO of Kmart. For now, that position is empty, following the departure last month of Paul Guyardo, now exec VP-CMO of DirecTV.
Mr. Padilla joined Sears in the summer of 2004 as president of merchandising and marketing after 22 years in merchandising at Target Corp. He will leave the company Oct. 31.
Two other appointments
Mr. Lampert also named McKinsey consultant Corwin Yulinsky exec VP-customer strategy and insight. At McKinsey & Co., he “was a leader of the financial-institutions practice and consulted with a variety of national financial institutions,” according to a Sears Holdings press release.
David McCreight was also named president of Lands' End, after serving as interim president since early August when CEO Mindy Mead left the $2.2 billion apparel maker also owned by Sears Holding.
“These two experienced and highly effective executives will bring Sears Holdings a new level of creativity and focus on marketing and our customer relationships,” Mr. Lampert said in the press release.
“We are well on our way to putting in place the team that will help lead the changes in Sears Holdings that are necessary to more quickly and fully meet the needs of our customers.”