Sears Holdings names new senior vp of finance

HOFFMAN ESTATES, Ill. Sears Holdings announced that Michael Collins joined the company today as senior vp of finance. The company expects that Collins will succeed Miles Reidy as Sears Holdings' cfo prior to the end of the 2008 fiscal year. Reidy, who intends to step down later in the year as the company's cfo in order to attend to a family issue, will work with Collins to facilitate an orderly transition.

Collins most recently was the senior vp of planning and analysis, at General Electric Corporation's NBC Universal Division. Previously, he worked in a variety of finance positions in his eighteen year career at GE.

"We welcome Mike to our company," said Bruce Johnson, interim ceo and president. "We have asked him to continue to build a rigorous and analytic finance function. With our new operating model, we need to ensure that our business unit leaders have the detailed information and finance support to drive effective decision-making."