W. Bruce Johnson is getting up every day and going to work to do his job. So, maybe it isn't such a big deal that the chief executive of Sears Holdings still has the interim tag attached to his title despite being in the role for two-plus years. On the other hand, maybe it is a big deal.
Michael P. McCauley, senior officer for investment programs and governance at the Florida State Board of Administration, is among those who see a problem.
"There's a leadership vacuum," he told The Wall Street Journal. "The fact that the CEO has been in the interim status for so long suggests there's a serious problem with succession planning."
There is a concern that not having a "permanent" CEO makes it harder for Sears Holdings to attract and retain top talent at the company and its various divisions.
Eleanor Bloxham, the head of Corporate Governance Alliance, said Sears' failure to find a permanent CEO sends "a very confused signal both internally and externally."
"No one should have to be a stand-in for 2.5 years," she told the Journal in an email.
Discussion Questions: Do you think that Sears Holdings is being hurt by not having found someone to be CEO of the company who doesn't carry the interim tag with them? Where do you see the biggest issues with the current setup?