Furniture Today,
TORONTO — Frank Rocchetti has left retailer Sears Canada, where he was senior vice

president and chief merchant, to join Canadian grocery giant Loblaw as executive vice president responsible for “business process transition.”

Rocchetti, who was at Sears Canada for 27 years, is the latest member of senior management to leave the company since Sears Holding launched its takeover bid almost a year ago. The company said a search for a replacement is under way.

At a special meeting of shareholders set for Tuesday, Nov. 14, Chicago-based Sears Holding will once again attempt to take Sears Canada private. The U.S. company owns 54% stake but needs a majority of the remaining shareholders to approve its C$18 per share offer.

A group of minority shareholders has been campaigning against the offer, claiming it’s too low.

Sears Holdings has extended the buyout bid until Nov. 20.