Sears Holdings names a new CFO

Sears Holdings has promoted Jason Hollar to the role of CFO, effective immediately, to take over for Robert Schriesheim.

It was announced in May that Schriesheim would be leaving to focus on other business interests and opportunities.

Hollar has been with Sears Holdings since October 2014. He has served as senior VP finance and has been responsible for the financial planning and analysis function, the business finance relationship with centralized finance, and procurement.

In addition to promoting Hollar, Sears has also consolidated responsibility for internal audit, treasury and the capital markets finance functions under Robert Riecker, who has served as VP and controller since 2011 and will continue as controller while also serving as head of capital markets activities.

"We are fortunate to have a deep bench of finance leadership as Sears Holdings continues to transform its business to an asset-light organization centered on its Shop Your Way program powered by our integrated retail innovations," said Edward Lampert, Sears Holdings' chairman and CEO. "In his time with the company, Jason has been focused on driving efficiencies and creating value as our company undergoes rapid change. His leadership and financial acumen are important skills as we accelerate our transformation and deliver for our members, associates and shareholders."

Mr. Lampert continued, "Additionally, we are extremely fortunate to have a seasoned, respected finance professional in Rob who has a depth of experience with our business and who has served in a variety of roles during his 11 years with the company."