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Lampert Becomes Sears CEO

The New York Times reports that hedge fund manager Eddie Lampert will assume the role of CEO of Sears Holdings as current CEO Louis J. D'Ambrosio leaves his post due to family health matters. Lampert already serves as company chairman.

Sears Holdings has been struggling to compete in the department store sector since Lampert acquired it in the mid-2000s. Former IBM executive D'Ambrosio joined the company in 2011.

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