CDI Corp. (NYSE: CDI) named Scott Freidheim as CEO, effective Sept. 15. Freidheim’s past roles include president of Kenmore, Craftsman and Diehard at Sears. He had joined Sears Holdings in January 2009 as executive vice president, operating and support businesses.

Most recently, Freidheim served as vice chairman-post acquisition management (Europe) at Investcorp International — a position he took on in 2011. Investcorp assists high net-worth individuals and institutions in the Gulf States invest in the West.

Prior to joining Sears, he was at Lehman Brothers, serving in several executive capacities, including as executive vice president and chief administrative officer from September 2008 through December 2008.

Freidheim replaces Paulett Eberhart, who stepped down upon the completion of her contract to pursue other, non-competitive, interests.

Freidheim will relocate to Philadelphia for the CDI position.

Freidheim is the fifth CEO in the firm’s 64-year history. His five-year contract provides lower current compensation in return for a significant long-term opportunity contingent upon achieving share prices that are between two and three times the current stock price, according to the company. Any reward earned would cliff vest at the end of the contract.

 “The board wanted a strategic thinker with the imagination to capitalize on our present strengths and leverage new opportunities for value creation,” CDI founder and Chairman Walter Garrison said. “Scott has a proven track record of making strategic decisions that generate positive results.”

In addition to his past experience, Freidheim is also a member of the board of trustees of the Institute of International Education, which administers the Fulbright Scholarship program, and is a member of the Economic Club of New York and the Council on Foreign Relations.

CDI ranks as the sixth-largest U.S. engineering staffing firm and the 16th-largest U.S. IT staffing firm.