Strategic Business Partnerships Presents: Alan J. Lacy, Former CEO of Sears Holding
Alan J. Lacy was the last Chairman and CEO of Sears, Roebuck and Company, which was acquired by Kmart in 2005, at which point he became Vice Chairman of that organization. Lacy climbed the ranks at Sears, Roebuck, and Company in six years to become the chief executive officer (CEO) in 2000. During the late 1990s Sears began to struggle to maintain its hold in the world of department stores, fighting a troubled economy and negative press regarding its customer practices. Lacy's reputation within the company and industry were established with the growth of Sears's credit services while he served as the chief financial officer. Even though analysts noted his youth and lack of retail experience upon his appointment as CEO, Lacy soon established himself as a leader who made major changes, such as lowering costs by slashing jobs and eliminating unprofitable categories. Establishing a new brand for Sears eliminated at least eight apparel suppliers and purchasing the prestigious Lands' End clothing line brought a more affluent type of customer to Sears.
Lacy earned a BS in Industrial Management from the Georgia Institute of Technology in 1975 and an MBA