Tuesday, March 20, 2012

Sears Holdings Names David Lukes to Real Estate Leadership Position



HOFFMAN ESTATES, IL. March 20, 2012 /PRNewswire/ -- Sears Holdings (NASDAQ: SHLD) announced today that David Lukes (top right photo) has joined the company in its real estate business unit as president, real estate development.

 Mr. Lukes comes to Sears Holdings from Mall Properties, Inc. where he served as president and CEO of the privately owned $3 billion real estate firm. 

In this new role, Mr. Lukes will lead the company's effort to  further develop certain of its real estate assets, including those real estate assets that are no longer in use as retail stores.  Jeff Stollenwerck, president of the company's real estate business unit, will continue in that role and oversee the traditional corporate real estate functions for Sears Holdings.

"We have a very strong real estate team at Sears Holdings and that team will only be stronger with the addition of an executive of David's caliber," said Lou D'Ambrosio (lower right photo) Sears Holdings' chief executive officer and president.

 "Historically, Sears has selectively realized value from its real estate holdings through store acquisitions, strategic store sales, and our leasing and licensed business programs.  David's hiring allows us to expand our capabilities to include the enhancement and re-development of appropriate properties."

Contact:
Sears Holdings Public Relations
(847) 286-8371

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