Former Sears CEO Edward Brennan dies at 73

CHICAGO -- Edward Brennan, who started as a sales associate at a Sears store in Wisconsin and rose to become chairman and CEO of Sears, Roebuck and Co. in the mid-1980s, has died at age 73, company officials said Friday.

"We were saddened today to learn of the passing of Sears' former Chairman and CEO Edward Brennan," Sears spokeswoman Kim Freely said in a statement given to The Associated Press. "Our thoughts and prayers are with the entire Brennan family during this difficult time."

Brennan, who later took over as board chairman at American Airlines parent AMR Corp. when previous chairman Donald Carty was forced out amid financial and labor tumult, died Thursday night at his home in suburban Burr Ridge after a brief illness, the Chicago Tribune reported on its website.

The Chicago native served on a variety of boards, including McDonald's Corp., 3M Corp. and Exelon Corp. He also previously served as chairman of the board of trustees at DePaul University and Marquette University, his alma mater.

"Ed was a true leader and a man of great integrity. He made a tremendous contribution to McDonald's," McDonald's CEO Jim Skinner said in a statement. "His strong leadership and experience were absolutely invaluable to us. Our thoughts and prayers are with Ed's family. We will miss him greatly."

Brennan graduated from Marquette in 1956 and began in sales that year at a Sears store in Madison, Wis., according to a biography provided by Sears.

He was the third generation of his family to work for the company, Sears said. His grandfather worked with founder Richard Sears and his father, four uncles and a brother all worked as Sears buyers.

In January 1981 he was elected chairman and chief executive officer of the company's retail group and helped handle the acquisition of Dean Witter Reynolds, Inc. and Coldwell, Banker & Company. From 1984 to 1986 Brennan was corporate president and chief operating officer.

In 1986 he became chairman of the board and chief executive officer. The company that year launched its Discover Card, claiming 12 million holders by year's end.