Arthur C. Martinez

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Arthur C. Martinez (born September 25, 1939) is an American businessman best known for turning around Sears, Roebuck & Co. in the 1990s, when he served as chairman, CEO, and president. He also helped Abercrombie & Fitch recover as Executive Chairman from 2014 to 2018.

Early life and education
Martinez was born in New York City and raised in Brooklyn. His father was a seafood wholesaler and his mother was an Irish immigrant homemaker. He finished high school at 16, earned a BS in Mechanical Engineering from Polytechnic University in 1960, served in the Army Corps of Engineers in Germany, and then earned an MBA from Harvard Business School in 1965.

Career highlights
Martinez started by stocking shelves at Bohack’s, then worked in financial planning at Esso, followed by roles at International Paper and RCA Records. He entered retail as CFO of Saks Fifth Avenue in 1980, became Group CEO for Retail at BATUS (owner of Saks) in 1987, and was Vice Chairman of Saks in 1990. In 1992 he became CEO of the Sears Merchandise Group and led major changes, including closing unprofitable stores, cutting about 50,000 jobs, and eliminating the Sears Catalog. He launched the “Softer Side of Sears” campaign to attract more women customers. In 1995 he became Chairman, CEO, and President of Sears, turning the company profitable again. He retired from Sears in 2000.

Martinez also served on numerous boards, including HSN, International Flavors & Fragrances, Martha Stewart Living Omnimedia, ABN AMRO, Liz Claiborne, PepsiCo, and AIG, and wrote The Hard Road to the Softer Side (2001). In 2007 he led ABN Amro’s sale to a European bank consortium for about €70.5 billion. In 2014 he became Executive Chairman of Abercrombie & Fitch, helping stabilize and reposition the brand and mentoring the next CEO until 2018.

Awards and personal life
Martinez received several honors, including the Edison Achievement Award (1995) and CEO of the Year (1996). He also earned the Harvard Alumni Achievement Award and honorary degrees from Notre Dame and Polytechnic University. He married Elizabeth Dorothy Rusch in 1966; they have two children and five grandchildren. The family has lived in Florida, Connecticut, and Maine.