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Sears loses CEO, but gains momentum
Just when things seem to be looking up for Sears Holdings, chairman Edward Lampert will assume the additional responsibilities of CEO following the revelation that current chief executive Lou D’Ambrosio will leave the company for family medical reasons.
News of D’Amrosio’s departure comes as the Sears Holdings preannounced improved profitability for the fist nine weeks of the fourth quarter and fiscal year ending February 2, D’Amrosio’s last day.