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Sears Holdings' director to step down from board

Department store operator Sears Holdings Corp. said Oct. 16 director Bruce Berkowitz will step down from the company's board, effective Oct. 31.

Berkowitz, who joined the retailer's board in February 2016, serves as the chief investment officer of investment adviser Fairholme Capital Management LLC, and as the president and a director of investment company Fairholme Funds Inc.