The board of directors of Sears, Roebuck and Co. (NYSE: S) today announced the election of William L. Bax, 59, former managing partner of PricewaterhouseCooper's Chicago-area practice, to membership on Sears' board of directors. His election increases the number of Sears directors to 11.
"Bill Bax's broad business knowledge and his depth of experience in accountancy strengthen our board. He will be of tremendous benefit to us," said Sears Chairman and Chief Executive Officer Alan J. Lacy.
Bax led PricewaterhouseCoopers' Chicago-area practice from 1997 until his retirement June 30. A partner in the firm for 26 years, he served on the Price Waterhouse Firm Board for five years. He was involved in setting strategy, including negotiations for the merger of Price Waterhouse practices in the U.S. and Europe and negotiations leading to the merger of Price Waterhouse and Coopers & Lybrand in 1998. Bax had also served as a member of the Price Waterhouse World Firm general council and as Midwest region consumer and industrial products audit practice leader.
As engagement partner in the world's largest accounting firm, Bax had responsibility for some of PricewaterhouseCoopers' most important global clients, including Tribune Company; Baxter International Inc.; Premark International; Kellogg Company; and A.C. Nielsen Company.
He is a graduate of DePaul University.
Bax is a member of the Commercial Club of Chicago, the Economic Club of Chicago, and the American Institute of CPAs. He is a director of Big Shoulders Fund, Children's Memorial Hospital and Junior Achievement of Chicago and is a member of the DePaul University board of trustees.
Sears, Roebuck and Co. is a broadline retailer with significant service and credit businesses. In 2002, the company's revenues were more than $41 billion. The company offers its wide range of apparel, home and automotive products and services to families in the U.S. through Sears stores nationwide, including approximately 870 full-line stores. Sears also offers a variety of merchandise and services through its Web sites, sears.com and landsend.com, and a variety of specialty catalogs.
SOURCE: Sears, Roebuck and Co.
CONTACT: Linda Brown Blakley of Sears, Roebuck and Co., +1-847-286-8862
Web site: http://www.sears.com/