Sears Canada turns to former Marine
TORONTO—Sears Canada has named a former management consultant and U.S. Marine as its new president and chief executive, replacing the man who has been leading a multi-year project to revive the national retailer.
Calvin McDonald will be replaced as president and CEO by Douglas Campbell, who has been Sears Canada’s chief operating officer since November.
The company said McDonald—who has spearheaded a number of major initiatives to reposition the company in a hotly-competitive marketplace—resigned to pursue an opportunity with a “leading international company.”
Sears Canada spokesman Vince Power said McDonald hasn’t informed the company where he’s going, but he disputed a report that McDonald was leaving due to a disagreement with majority shareholder Sears Holdings Corp.
The Globe and Mail, citing a unidentified source, said the disagreement was tied to “the pace at which capital was being deployed to keep the momentum of the transformation going.”
But Power said he’s unaware of any dispute along the lines reported by the newspaper, and insisted the reason for McDonald’s departure is the new job opportunity.
Neither McDonald nor Campbell were immediately available for comment.
In the company’s statement, McDonald said: “It has been an honour to lead an iconic Canadian retailer, and I look forward to your continued success.”
The company’s new CEO, meanwhile, graduated from the U.S. Naval Academy with a degree in economics before serving as a commissioned officer in the U.S. Marine Corps.
He later received a Masters of Business Administration from the Wharton School and worked with Boston Consulting Group before joining Sears Canada.
“Doug’s disciplined approach has been instrumental in managing costs and driving efficiencies,” said William Crowley, chairman of the Sears Canada board of directors.
“We look forward to his leadership as we continue to improve profitability across the business.
“We believe that the future remains bright for a more focused and competitive Sears Canada,” Crowley added.
Campbell said in the statement that he looks forward to working with the Sears Canada management team “to continue to engage our customers and our 25,000 associates to better serve families and communities across Canada.”