Sears Cutting Size of Board: Sears, Roebuck...

Sears Cutting Size of Board: Sears, Roebuck & Co. said it will cut the size of its board of directors to 10 from 15 members to give outside directors greater say in how the company is run. Chief Executive Edward A. Brennan will be the only inside director. Those leaving effective May 9, are James M. Denny, chief financial officer; Wayne E. Hedien, chief executive of Allstate Insurance; Arthur J. Hill, chief executive of Coldwell Banker Real Estate Group, and Philip J. Purcell, chief executive of Dean Witter Financial Services Group. Edward R. Telling, former chief executive of Sears, will retire from the board April 1.