Big Lots CEO Stepping Down

Columbus-based Big Lots is looking for a new chairman and CEO. The news of Steve Fishman's expected departure next year came Tuesday morning during a morning conference call where the company announced third quarter sales about $10 million below the same quarter last year, although sales still exceeded some analysts' expectations. Fishman joined Big Lots in 2005 and has seen the company go from marginal profits to record earnings last year and expansion after years of closing stores. Fishman is a 40-year veteran of the retail sector. He did not give an exact timetable for his departure and says he'll stay on as long as the company needs to find a replacement. The company says the search for a replacement is already under way.