Ronald Boire has joined Sears Canada as acting president and CEO

Ronald Boire has joined Sears Canada as acting president and CEO

Ronald Boire, the EVP and chief merchandising officer of Sears Holdings' Kmart and Full Line formats has joined the firm's Canadian division as acting president and CEO.

Boire will take up the role with immediate effect, the retailer said today (15 October).

Edward Lampert, Sears Holdings chairman and CEO, said: "I have enjoyed working with Ron and appreciate the contributions he has made to support our transformation. Ron's experience at Sears Holdings and leadership roles at other retail companies will allow him to hit the ground running at Sears Canada."

Sears announced plans earlier this month to raise up to US$380m by selling off the majority of its stake in Sears Canada.

It also saw its shares slide in response to reports that at least one "medium-sized" vendor had halted shipments to the retailer following a recommendation from its credit department.