Eddie Lampert steps down as chairman of Sears

Call it musical board chairs.

Eddie Lampert resigned as chairman of Sears Holdings and took the helm of the board at Transform Holdco, the holding company that scooped Sears out of bankruptcy last month.

The hedge-fund billionaire’s resignation was disclosed in a regulatory filing this week while a source with knowledge of the situation confirmed that Lampert simply jumped to the entity that holds the goods now, including 425 Sears and Kmart stores, intellectual property and its home improvement and Auto Parts units.

Kunal Kamlani, president of ESL Investments — Lampert’s hedge fund and the owner of Transform Holdco — also resigned from the Sears board. It’s not clear whether he joined Transform as well.

“Sears is winding down its affairs and Lampert has no interest in being on the board of an empty shell,” said bankruptcy attorney Kenneth Rosen of Lowenstein Sandler. “He wants to be on the board of the entity that is operating the Sears stores.”

Lampert in the filing said his resignation was not “the result of any disagreement with the company on any matter relating to the company’s operations, policies or practices.”

But he may be the first to resign from Sears’ beleaguered board because “he doesn’t want to be on both sides of the transaction,” Charles Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware told The Post.

ESL Investments, Lampert’s hedge fund, won a bankruptcy auction in January to buy the iconic US retailer for $5.2 billion. Sears had filed for Chapter 11 in October.