Sears Holdings names new CFO

Sears Holdings Corp. said Tuesday that Robert Schriesheim will join the company as executive vice president and chief financial officer.

Schriesheim, 51, was to start on Tuesday as executive vice president and will officially become the company's CFO effective Monday.

He served as CFO of human resources specialist Hewitt Associates until it was acquired by Aon Corp. last year. Before that, he was executive vice president, CFO and a director of Lawson Software.  

Schriesheim replaces Bill Phelan, who had been serving as the Hoffman Estates, Ill.-based retailer's acting CFO and will remain with the company.

Sears has made a number of executive changes lately. It named Liz Claiborne executive Edgar O. Huber and CEO and president of its Lands' End business earlier this month.

Sears CEO Louis D'Ambrosio was hired in February. He has pledged to help turn around the ailing retailer by relying on its core brands like Craftsman and Lands' End and being smarter about marketing to customers.

In early trading, Sears shares fell 27 cents to $61.69.