Interim Tag Sticks to Sears’ CEO
W. Bruce Johnson is getting up every day and going to work to do his job.
So, maybe it isn’t such a big deal that the chief executive of Sears Holdings
still has the interim tag attached to his title despite being in the role for
two-plus years. On the other hand, maybe it is a big deal.
Michael P. McCauley, senior officer for investment programs and governance
at the Florida State Board of Administration, is among those who see a problem.
“There’s a leadership vacuum,” he told The Wall Street Journal. “The
fact that the CEO has been in the interim status for so long suggests there’s
a serious problem with succession planning.”
There is a concern that not having a “permanent” CEO makes it harder
for Sears Holdings to attract and retain top talent at the company and its
Eleanor Bloxham, the head of Corporate Governance Alliance, said Sears’ failure
to find a permanent CEO sends “a very confused signal both internally
“No one should have to be a stand-in for 2.5 years,” she told the Journal in
Discussion Questions: Do you think that Sears Holdings is being hurt
by not having found someone to be CEO of the company who doesn’t carry the
interim tag with them? Where do you see the biggest issues with the current