Sears’ Second-Largest Shareholder Resigns From Board

When you own more than 25% of Sears, it gets you a seat on the retailers’ board of directors and gives you the opportunity to help steer the company in the right direction. So what does it say about Sears Holdings that its second-largest investor has decided to vacate its seat at the table?

“Not the result of any disagreement”

That shareholder is Fairholme Capital Management, which in the past has owned up to 27% of Sears Holdings, the parent company of Sears and Kmart.

Early last...

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