Eddie Lampert is quitting his role as chairman of Sears Holdings Corp., effective immediately.
He will remain as chairman of Transform Holdco LLC, which now controls substantially all of the assets of Sears Holdings.
The decision comes in the wake of Lampert and his ESL Investments hedge fund winning control of Sears last week in a New York bankruptcy court.
Lampert's bid and his new company, Transform Holdco LLC, was selected over a committee of creditors, including landlords and major vendors,…
