Sears Canada confirms Boire as CEO

Ron Boire was named president and CEO of Sears Canada after serving in that capacity on an interim basis since last October.

Boire was named acting president and CEO last October to replace Doug Campbell, the former head of the 381 unit Sears Canada operation who resigned for personal reasons. Boire was identified as the top candidate for the job at the time the appointment was made as he had spent nearly two years as executive vice president, chief merchandising officer and president of Sears and Kmart formats.

"The Board of Directors believes Ron has the capabilities, experience and leadership that Sears Canada needs at this time," said Sears Canada Chairman William C. Crowley. “He is assembling a team, developing an approach, and instilling a culture that is necessary to improve the business."

Boire said he appreciated the confidence of the board as he and his team look to transform Sears Canada.

"I am aware of the challenges facing the evolving Canadian retail marketplace, and Sears Canada in particular. I understand what needs to be done and I am confident that our associates are engaged and focused on the drivers of our future success,” Boire said.

Boire joined Sears in January 2012 and prior to that he served as president and CEO at Brookstone since October 2009. Prior to that he spent three years at Toys “R” Us, last serving as president of North American. Prior to that, he was with Best Buy from 2003 to 2006 as executive vice president and global merchandise manager. He also spent 17 years at Sony Electronics.

Sears Canada said its third quarter same store sales for the period ended Nov. 2, declined 9.5% and it lost $118.7 million, or $1.16 a share, compared to $48.8 million, or 48 cents the prior year. The company is scheduled to report its fourth quarter and full year results Feb. 25.