Lampert to stay on as Sears CEO

03/20/2013 | Bloomberg

Majority shareholder Edward Lampert will remain on as Sears Holdings CEO under a new contract that sets his salary at $1 per year and calls for annual stock awards and incentives, the company said. Lampert, who took over the post after Lou D’Ambrosio resigned last month, is the fifth chief executive since Sears and Kmart merged in 2005.

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