Hudson's Bay Co. (HBC.TO) Wednesday announced the appointment of Gerald Storch as Chief Executive Officer, effective January 6, 2015.
Storch will be responsible for Hudson's Bay, Lord & Taylor, Saks Fifth Avenue, Saks OFF 5TH, Home Outfitters and HBC Digital. Richard Baker will continue as Governor and Executive Chairman and together he and Storch will compose the Office of the Chairman.
Gerald Storch has a distinguished 30-year career in retail leadership and management consulting. As Chairman and CEO of Toys"R"Us, Storch led a resurgence of the business and grew the company into a $13 billion global retailer.
He expanded the company's ecommerce business to over $1 billion, drove growth in China and throughout the world and oversaw acquisitions including FAO Schwarz, eToys and KB Toys.
Prior to his tenure at Toys"R"Us, Storch was Vice Chairman of Target, and prior to that, Storch was a Principal at McKinsey & Company from 1982 to 1993.
Further, Donald Watros has been appointed President of HBC's newly formed International unit. In this role, he will focus on identifying, launching and operating international expansion opportunities. Watros will continue to report to Baker.
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