Sears Holdings CFO exits

HOFFMAN ESTATES, Ill. — Kmart parent company Sears Holdings has named William Phelan as acting CFO, replacing Michael Collins, currently SVP and CFO, who resigned last week to pursue another opportunity, the company reported in a Securities and Exchange Commission filing.

Collins will remain with the company until June 10 in order to ensure a smooth transition, Sears noted in the filing.

Phelan was elected SVP and controller of the company in September 2007. From December 2007 until December 2008, he also served as the company's treasurer. From the consummation of the merger involving Kmart Holding and Sears, Roebuck and Co. in March 2005 until September 2007, Phelan served as VP and controller. Prior to the consummation of the merger, he served in a variety of finance positions with Sears, Roebuck and Co., which he joined in 1992.