Sears Canada CEO resigns to become chief of Barnes & Noble’s new retail business

New York – Sears Canada’s loss is Barnes & Noble Inc.’s gain. The book-seller has tapped Ronald D. Boire, currently president and CEO of Sears Canada Inc., to become the chief exectutive of its new retail division, effective Sept. 8. His departure after less than one year leaves the beleaguered department store chain on the hunt for a new CEO — its fourth in four years



Boire’s 25-year executive career includes extensive experience in developing and launching consumer electronics, which probably helped get him his new job as Barnes & Noble’s struggling Nook e-reader business will be under his leadership. (As previously announced, Barnes & Noble is separating its college and retail businesses into two public companies. Once the spinoff is completed, expected by the end of August, Boire will become the CEO of Barnes & Noble Inc., which will include the retail and Nook units, and current CEO Michael Huseby will become executive chairman of the college-bookstore unit.)



Prior to serving as president & CEO of Sears Canada, Boire served as executive VP, chief merchandising officer and president, Sears and Kmart Formats at Sears Holdings. Boire also served in other executive positions including president and CEO of Brookstone Inc. While at Toys “R” Us, he served as president, North America from 2006 through 2009.



In addition, Boire served as executive VP, global merchandise manager for Best Buy, where his responsibilities included global technology and vendor management, global sourcing and private label development. Before working at Best Buy, Boire served in a variety of increasingly senior roles during a 17-year career at Sony Electronics Inc., including president of Sony’s personal mobile products company, where he was responsible for Sony’s audio and mobile electronics products in the U.S., and president of the consumer sales company responsible for sales and distribution in the U.S.



“I believe Ron’s extensive experience throughout all facets of the retail industry, combined with his leadership ability and proven track record, make him an ideal chief executive for Barnes & Noble,” said Leonard Riggio, chairman of Barnes & Noble.



In addition, Jaime M. Carey, chief merchandising officer, has been promoted to COO, effective immediately. Carey joined Barnes & Noble in May 2003 as director of newsstand, and was promoted to VP. In May 2008, Carey was named chief merchandising officer and has been responsible for the merchandise buying of all departments.



Sears Canada has named Brandon G. Stranzl, chairman of the board, as executive chairman to help with the transition. Sears Canada is commencing the search for a new president and CEO.