Sears Head of Real Estate to leave after 15 years

By Pouyan Broukhim

Jeff Stollenwerck, better known as the Head of Real Estate at US holding company Sears, will be stepping down from his position at the company after more than 15 years of service, CNBC reports.

Stollenwerck play a leading role in the creation of the company’s Seritage real estate investment trust (REIT) whereby Sears spun off approximately 250 properties to create the successful publicly traded REIT.

See also:

According to the company, the Seritage portfolio spans 40mn square feet of property across 49 US states and Puerto Rico.

“We appreciate [Stollenwerck's] service leading the real estate business unit and wish him well in his future endeavors,” Sears said in an emailed statement to CNBC. “Our strong bench of talent for our Real Estate business unit and among the leadership team will ensure a smooth transition.”

Previous to his work with Sears, Stollenwerck worked within Kmart’s real estate team until the two companies merged in 2005.

Stollenwerck leaves the company at a time of major internal cost cutting. This month, the firm is set to complete its closure of another 100 of its retail stores, now operating less than 1,000 facilities when it once had more than 4,000.


Featured Articles

Sustainability, ESG, net zero in focus at must-attend event

Sustainability takes centre stage at two-day hybrid conference featuring thought leaders covering circular economy, scope 3, ESG, B Corp, net zero, DE&I

Must-attend sustainability events for executives in 2022/23

Discuss and debate the most pressing issues around sustainability at these nine executive events – from London to Abu Dhabi, San Diego to Singapore

Meet the CEO on a mission to nurture women leaders in Africa

The argument for women leaders in Africa is compelling, yet numbers are small. But one female leader is on a mission to change that – Awamary Lowe-Khan

BCG's Daniel Weise on supply chain and procurement strategy

Leadership & Strategy

Flexible work perks heat up as the war on talent rages

Human Capital

Meet the COO: Former Israel Defense Force cyber lead Parnes

Technology & AI