Boire appointed acting president and CEO of Sears Canada

MarketsAssociated Press

A Sears executive was named acting president and CEO of Sears Canada on Wednesday.

Late last month the company said that CEO of Sears Canada, Douglas Campbell, would leave at the end of the year.

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The Hoffman Estates retailer has been struggling and earlier this month said that it would sell most of its stake in the Canadian unit to raise $380 million in much-needed cash ahead of the holiday season.

Sears Holdings Corp., which runs Kmart and its namesake stores, said Ron Boire would step down from his roles as executive vice president, chief merchandising officer and president of Sears Full Line Stores and Kmart Format.

Before joining Sears in 2012, Boire was the CEO of Brookstone Inc.