Sears Holdings' marketing president to resign
David Friedman, Sears Holdings Corp.'s SVP and president of marketing, will resign his post in January. Imran Jooma, SVP and president of e-commerce at Sears Holdings, will manage the retailer's online, marketing, financial services and pricing business units, according to an internal memo provided to Direct Marketing News.
After roughly 13 months at Sears, Friedman has resigned to pursue other opportunities, according to the memo. He will support Jooma during the transition and assist during the holiday season.
Friedman joined Sears after 11 years at Razorfish, where he most recently served as president of the Americas. Prior to Razorfish, Friedman spent 10 years at Andersen Consulting (now known as Accenture) as an associate partner for retail and consumer product companies.
Jooma joined Sears as VP and president of e-commerce in 2007. From 2004 to 2007, he was VP of e-commerce at Circuit City.
Sears Holdings Corp. named Monica Woo VP and CMO in August. Woo is responsible for all marketing, brand and advertising programs and reports directly to Friedman.
The company named Lou D'Ambrosio president and CEO in February after reporting a decline in revenue of 1.6% to $43.3 billion for fiscal year 2010 compared with the prior year. Fiscal year 2010 operating income declined 33.5% to $474 million compared with the prior year, while net income fell 49.5% to $150 million.
The company launched a digital advertising program on Oct. 26 that offers weekly circulars for hundreds of Sears and Kmart stores nationwide.
Reuters first reported Friedman's resignation. Sears declined to provide additional comment.