Turnover in Sears’ CFO suite continues

Sears Holdings has a new finance chief — again.



The struggling retailer announced that Rob Riecker, currently controller and head of capital market activities, has been appointed CFO, effective immediately. He replaces Jason Hollar, who resigned “to pursue another career opportunity,” the retailer said. Hollar was appointed to the role in October 2016.



Riecker joined Sears in 2005 as assistant controller and served in various senior positions within the company's Finance organization.



"Rob is a strong leader with significant institutional knowledge through his 11 year tenure with the company. Rob's financial acumen, as well as his long-standing relationships with our vendor and lender partners make him highly qualified for the role,” stated Edward Lampert, chairman and CEO, Sears Holdings.



Hollar is the fifth member of Sears’ senior management team to depart the company in the last four months, with the most recent being John Moore, who had served as head of Sears retail services.



The turnover comes as the chain struggles to restructure its operations and reduce costs.