Sears Holdings Announces Change to Board of Directors

HOFFMAN ESTATES, Ill., Oct. 16, 2017 /PRNewswire/ -- Sears Holdings Corporation (NASDAQ: SHLD) today announced that Bruce R. Berkowitz has decided to step down from the company's board of directors, effective October 31, 2017. Mr. Berkowitz joined the board of Sears Holdings in February 2016.

"On behalf of the board of directors and management, I want to thank Bruce for his long-term commitment and investment in Sears Holdings. His leadership, guidance and counsel as a board member have been invaluable to our company," said Edward S. Lampert, Chairman and CEO of Sears Holdings.

"It has been a pleasure to serve on the board of Sears Holdings and work closely with Eddie and the rest of the leadership team. I wish the company and its associates all the best as Sears Holdings continues to execute on its strategic priorities," said Mr. Berkowitz.

Mr. Berkowitz serves as the Chief Investment Officer of Fairholme Capital Management, LLC, an investment adviser registered with the SEC, and is the President and a Director of Fairholme Funds, Inc., a SEC-registered investment company.

About Sears Holdings Corporation
Sears Holdings Corporation (NASDAQ: SHLD) is a leading integrated retailer focused on seamlessly connecting the digital and physical shopping experiences to serve our members - wherever, whenever and however they want to shop. Sears Holdings is home to Shop Your Way®, a social shopping platform offering members rewards for shopping at Sears and Kmart, as well as with other retail partners across categories important to them. The Company operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation, with full-line and specialty retail stores across the United States. For more information, visit www.searsholdings.com.

NEWS MEDIA CONTACT:
Sears Holdings Public Relations
(847) 286-8371

SOURCE Sears Holdings Corporation