Sears Names CFO Successor

Sears Holdings (SHLD Quote) named Michael Collins as senior vice president, finance, and said Collins will succeed J. Miles Reidy as chief financial officer prior to the end of fiscal 2008.

Reidy intends to step down later in the year as chief financial officer to attend to a family issue, Sears said in a statement Monday.

Collins most recently served as senior vice president, planning and analysis, at General Electric's (GE Quote) NBC Universal division.

Shares of the retailer closed Friday at $70.92.

Nobody ever made a dime by panicking, says Jim Cramer. Moneymaking opportunities exist despite the market turmoil. So where's a market master like Cramer putting his money these days? Check out his personal portfolio at Action Alerts PLUS. Take a free trial now.