Sears COO to Resign Amid Shake-Up

Sears, Roebuck & Co. said Chief Operating Officer Julian Day will resign after Alan Lacy, who will become chief executive Oct. 1, decided to eliminate the “office of the chief executive,” an advisory post the two men shared with retiring Chairman Arthur Martinez. Sears said that Day, 47, will “pursue other interests.” No other details were provided. Day, a former executive with supermarket chain Safeway Inc., was hired by Sears in March 1999 as chief financial officer to help the retailer cut costs. A year ago, he was named chief operating officer and appointed to the new office of the chief executive. Shares of Hoffman Estates, Ill.-based Sears closed off 19 cents at $34.44 on the New York Stock Exchange, before the announcement was made.