Home appliance retailer Sears Holdings Corporation announced election of Richard C. Perry,50, co-founder of investment management firm Perry Capital L.L.C., to membership on the Sears Holdings board. His election increases the number of directors to 11.
"Richard Perry is an accomplished investor and businessman. Importantly, funds he manages are a significant owner of Sears Holdings shares. The Board of Directors looks forward to his contribution, advice and leadership," said Sears Holdings Corporation Chairman Edward S. Lampert.
Prior to founding Perry Capital, Perry worked in the equity trading area of Goldman, Sachs & Co. He also was an adjunct associate professor at the Stern School of Business at New York University. Perry also serves on the boards of Radio & Records Inc and Endurance Specialty Insurance Ltd.
Perry is a member of the boards of trustees of the Allen Stevenson School, Milton Academy, Facing History and Ourselves, Harlem Children's Zone and the University of Pennsylvania.He also serves on the Undergraduate Executive Board of the University of Pennsylvania's Wharton School. He earned an MBA at New York University's Stern School of Business in 1980, and a BS at the University of Pennsylvania's Wharton School in 1977.
Founded in 1988, Perry Capital is a private investment management firm with approximately $11 billion under management and offices in New York, London and Hong Kong. Perry Capital generally considers its investments to be long-term and seeks to develop close working relationships with the key members of a company's management and operating team.
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