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US firm sets record for 'longest interim executive'

6 May 2010

Bruce Johnson spoke about his position as a 'permanent' interim manager during the annual general meeting of US retailer Sears Holdings this week.

More than two years after he was named the firm's interim chief executive, Mr Johnson still occupies the role and no plans to appoint a successor have been announced.

Citing recent analysis from research firm Equilar, the Chicago Breaking Business blog reported that the Sears' chief now holds the longest interim tenure on record for the head of a public company in the US.

Speaking during the AGM, chairman Edward Lampert said his firm is in no rush to hire a permanent chief executive, despite concerns from some investors, Reuters reports.

"I think that it would be different if we had not gone through both a major restructuring of the company and the economic environment," he commented.

Meanwhile, Mr Johnson light-heartedly told the meeting how one Sears employee recently greeted him as "Mr Interim".

The Chicago-based firm is the ninth-largest retail group in the US, operating chains such as Sears and Kmart.

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Categories: Retail

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