Edward Lampert Won't Stand for Re-election to AutoZone Board

Edward Lampert Won’t Stand for Re-election to AutoZone Board

AutoZone announced today that Edward Lampert, the chairman and chief executive officer of ESL Investments, Inc. and chairman of Sears Holdings Corp., will not be standing for re-election to the AutoZone Board of Directors, in order to devote more time to other duties at ESL and Sears Holdings. The board has nominated Theodore Ullyot, executive vice president and general counsel of ESL, to fill the board seat vacated by Lampert.

MEMPHIS, TN — AutoZone announced today that Edward Lampert, the chairman and chief executive officer of ESL Investments, Inc. and chairman of Sears Holdings Corp., will not be standing for re-election to the AutoZone Board of Directors, in order to devote more time to other duties at ESL and Sears Holdings. The board has nominated Theodore Ullyot, executive vice president and general counsel of ESL, to fill the board seat vacated by Lampert.

"It has been my privilege and a great pleasure to serve on the board of this terrific company for the past seven years," said Lampert. "I plan to remain involved with the company, and ESL currently plans to remain a significant shareholder in AutoZone for the foreseeable future. With the steadily increasing demands on my schedule, however, I have concluded that AutoZone would be better served by my not being re-nominated to the board, in favor of someone who can devote more of his time to these important duties. To that end, I am pleased that the Board has nominated Ted Ullyot, ESL’s executive vice president and general counsel, to serve on the board."