Sears Canada Appoints Chief Financial Officer

TORONTO, Dec. 21 /CNW/ - Sears Canada Inc. (TSX: SCC) announced today that the Board of Directors of the Corporation has appointed Sharon R. Driscoll as Senior Vice-President and Chief Financial Officer. Ms. Driscoll has held her current position with the Company as Senior Vice-President, Finance, since November of 2008.

Prior to joining Sears in 2008, Ms. Driscoll was employed with Loblaw Companies Limited, holding the position of Senior Vice-President, Corporate Development, and before that Senior Vice-President, Finance National Merchandising and Senior Vice-President, Finance Retail Ontario Region. Ms. Driscoll began her employment with Loblaw Companies Limited in 1987. She holds a CA (Chartered Accountant) designation and earned her Bachelor of Commerce (Honours) degree from Queen's University.

Allen R. Ravas, who was appointed as Sears Canada's Senior Vice-President and Chief Financial Officer in October of 2008, is returning to Sears Holdings as the Chief Administrative Officer of Orchard Supply Hardware of San Jose, California, a majority-owned subsidiary of Sears Holdings Corporation.

"On behalf of the Board of Directors and associates of Sears Canada, I want to thank Allen for his contribution to the Company and wish him much success in his future endeavours," said Dene Rogers, President and Chief Executive Officer, Sears Canada Inc. "I also congratulate Sharon on her new appointment. She brings over twenty years of retail experience to the role of CFO as well as significant leadership experience on all financial matters. She has been an important member of our senior team for over two years, and I look forward to having Sharon take on this significant role within Sears Canada."

Sears Canada is a multi-channel retailer with a network of 196 corporate stores, 260 hometown dealer stores, 33 home improvement showrooms, over 1,800 catalogue merchandise pick-up locations, 108 Sears Travel offices and a nationwide home maintenance, repair, and installation network. The Company also publishes Canada's most extensive general merchandise catalogue and offers shopping online at www.sears.ca.

For further information: Contact for Media: Vincent Power, Sears Canada, Corporate Communications, 416-941-4422, [email protected]