Sears Holdings appointed Scott Freidheim, a former Lehman Brothers executive, to the position of executive VP, president - Kenmore, Craftsman and DieHard.

The move was described by Sears as "part of the continuing transformation of the company." 

"Scott is a strong leader who will heighten our focus on our Kenmore, Craftsman and Diehard brands," said Bruce Johnson, interim CEO and president of Sears Holdings. "I believe he will be a tremendous asset to this business as we drive new ideas forward."