NEW YORK — Ron Culp, Sears, Roebuck & Co.’s senior vice president for public relations, communications and government affairs, and Anastasia Kelly, senior vice president and general counsel, are leaving the firm.
This story first appeared in the January 28, 2003 issue of WWD. Subscribe Today.
Culp, who was with the company for 10 years, retired, while Kelly, who worked there for four years, resigned.
The two are the latest in a series of departures from the chain. The first was the sudden exit in October of the president of Sears’ credit business amid questions of his “personal credibility.” That departure and a subsequent $222 million increase in Sears’ provision for bad credit combined to send Sears’ stock price reeling to a 52-week low of $19.71 on Nov. 13. Sears shares advanced 4 cents, or 0.2 percent, on Monday to close at $24.77 as the equity markets again tumbled.
Reached at Sears’ Hoffman Estates, Ill., headquarters, Culp, 54, told WWD his departure “had nothing to do” with Sears’ recent credit issues and that he intended to devote more time to his family. Kelly couldn’t be reached for comment, but an internal memorandum said that her “mission to restructure and upgrade the law department during her four-year tenure has been largely achieved and has resulted in significantly improved quality and diversity of staff.”