Tesco exec joins Kmart as president

Sears Holdings Corp. says Alasdair James has joined the company as president and chief member officer for its Kmart business, a new position.

The 44-year-old most recently served as commercial director for British supermarket giant Tesco's global business unit, according to the Associated Press.

In his Kmart position, he will be responsible for the company's financial performance and merchandising, as well as marketing and pricing strategies for its free loyalty program, Shop Your Way.

Read more from the Associated Press.