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Kmart president and chief member officer Alasdair James has left the company, Business Insider has learned.
James, who has been with Kmart since 2014, is the third top executive to leave Sears Holdings, which owns the Kmart brand, within the last three months.
Jeffrey Balagna, formerly Sears’ executive vice president, and Joelle Maher, Sears’ president and chief member officer, left in December.
There are now 11 people remaining on Sears’ senior management team.
James’ name was scrubbed from the company website on Wednesday, which is routine practice for Sears when it loses a top executive. The company does not announce the departures.
Sears has not responded to a request for comment on James’ departure and James could not be reached for comment.
James was recruited to Sears nearly three years ago from the British grocery giant Tesco, where he held a number of executive positions including commercial director for the company’s global business unit.
The loss of another high-level executive is a bad sign for Sears, which is under pressure from years of plunging sales.
Many analysts have predicted that the company could soon declare bankruptcy, and Moody’s Investors Service has repeatedly highlighted concerns about the viability of the Kmart business, in particular, saying it has lost considerable market share.
Sears recently executed a round of layoffs at its Kmart stores that targeted full-time workers, including assistant managers and department heads – or “leads” as Kmart calls them – across the country.
Sears’ losses grew nearly 5% to $607 million in the fourth quarter, and same-store sales, or sales at stores open at least a year, fell 10.3%. Earlier this year, Sears announced it planned to close 150 Sears and Kmart stores by April. The company now has fewer than 1,500 stores, down from 2,073 five years ago.