BUSINESS
06/23/2011 08:21 EDT | Updated 08/23/2011 05:12 EDT

Sears Canada Hires Former Loblaw Executive As CEO

AP File

TORONTO - Sears Canada Inc. has appointed a former executive from Loblaw Companies as its new president and CEO, a move to replace Dene Rogers effective immediately.

The department store chain said Thursday that Calvin McDonald will take on the role that Rogers has held for the past five years.

McDonald previously worked as executive vice president of Loblaw's conventional division.

"Calvin brings extensive retail experience, knowledge of online and customer-relationship technologies, an energetic and engaging leadership style, and an appreciation for the opportunity that Sears Canada represents," said Sears chairman William Crowley in a release.

He noted that Rogers' exit from the company has been expected.

"Two years ago ... Dene told me he was considering returning to the U.S. with his family, but wanted to stay while the company weathered the economic recession and hired a management team that could take the business forward," Rogers said.

Rogers also released a comment as part the announcement thanking the company's employees.

"I have enjoyed my time here and feel that we have accomplished a great deal together," Rogers said.

Sears Canada operates 196 corporate stores, 272 dealer stores, 1,800 catalog order pickup locations and a travel agency and home maintenance and repair business.

The publicly traded company is a subsidiary of Sears Holdings, which owns both the Sears and Kmart retail chains in the United States. The parent company owns about 90 per cent of Sears Canada's stock.