Interim CEO Johnson nominated to Sears board

Sears Holdings Corp., the largest U.S. department-store company, nominated interim Chief Executive Officer W. Bruce Johnson to its board and said two directors will step down.

William C. Crowley, a director since March 2005, and Kevin B. Rollins, a director since February 2008, will leave the board after Sears' annual meeting at its headquarters in Hoffman Estates May 4. The board will consider reducing the board to seven members from eight, Sears said today in a regulatory filing.

Johnson became interim CEO in February 2008. He was named executive vice president of supply chain and operations following Sears's merger with Kmart Holding Corp. in 2005.

Sears fell 77 cents to $107.68 at 10:18 a.m. in Nasdaq Stock Market trading. The shares had gained 30 percent this year before today.