NEW YORK Perianne Grignon, vp, media planning and buying at Sears, will leave the company in January, the retailer has confirmed.
The Chicago-based company alerted staff to Grignon's pending departure in an internal memo issued Monday.
A Sears rep said that current plans are to replace Grignon, a 10-year company veteran, although her successor has not yet been identified. The rep added that Grignon is "working with our media company partners to ensure a smooth transition."
Sears declined to cite any reasons for the departure. But sources said the decision was "mutual" and that Grignon has been considering an exit strategy for some time.
"Their business is not good and she's looking for another challenge," said a source familiar with the situation. Like many retailers, Sears Holdings (which includes Sears and K-Mart) has had a tough year and is bracing for a challenging 2009.
For the first three quarters of the year, Sear Holdings posted a $137 million net loss on a 9 percent revenue decline to $33.5 billion.