Sears Board Member Steps Down To Accept Treasury Post

by Katie Lee

Hoffman Estates, Ill. — Steven T. Mnuchin has informed Sears Holdings Corporation that he has decided to step down from the company’s board of directors, effective immediately. President-elect Donald J. Trump recently announced his intent to nominate Mnuchin as Secretary of the United States Department of Treasury.

Mnuchin joined the board of Sears Holdings in March 2005 at the time of the merger of Sears, Roebuck and Co. and Kmart Holding Corporation. Previously, in May 2003, he was named to the board of directors for Kmart Holding Corporation. 

“I want to thank Steven for his leadership, guidance and counsel during his more than 13 years of service as a highly valued member of the boards of both Sears Holdings and the former Kmart Holding Corporation,” says Edward S. Lampert, chairman and CEO of Sears Holdings.

Mnuchin’s departure decreases the number of Sears Holdings’ directors to nine. 

Sears Holdings Corporation is a leading integrated retailer. The company operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation, with full-line and specialty retail stores across the United States. For more information, visit

SOURCE: Sears Holdings Corporation

You may also like