Autobytel VP and Controller Resigns
Irvine, Calif., On-line car retailer Autobytel Inc.’s VP and controller, Matthew McDowell, has resigned as the company faces a delisting of its shares on Nasdaq next week. The Irvine, Calif.-based company is elbow-deep in a restatement of financial results reaching as far back as 2002. The company missed the deadline for filing last year’s annual report with the Securities and Exchange Commission, which is one of the criteria required by Nasdaq to maintain listing. The company said it could not promise that it would be able to file the necessary documents on time to prevent a delisting.
Management Shakeup Begins at Sears
Hoffman Estates, Ill., Four Sears, Roebuck and Co. executives were terminated, according to a report in the Chicago Sun-Times. The shakeup comes a week after Kmart’s $12.3 billion takeover of Sears was approved.
The terminated employees include:
• Bill Bass, senior VP of e-commerce at Lands’ End and the head of Sears’ online and catalog operations. He will be replaced by Kmart’s Chris Shimojima, who becomes general manager of online and catalog sales.
• Gary Kelly, Sears CIO. Kmart’s Karen Austin will replace him as CIO.
• Bob O’Leary, head of public relations and government affairs. He will be replaced by Sears’ Edgar “Ted” McDougal.
• Greg Lee, head of human resources. He will be replaced by Sears’ Bob Luse.
In addition to these executive changes, Sears executive VP of store operations William White III will retire. Also, Catherine David, who leads Sears’ Great Indoors concept, will take additional responsibility for the Sears Essentials and Sears Grand formats, and Rob Lynch will become general manager of the Orchard Supply hardware chain.