Hudson's Bay Co. CEO Gerald Storch leaving, executive chairman assuming CEO role

The Canadian Press</span>
Published Friday, October 20, 2017 4:53PM EDT
Last Updated Friday, October 20, 2017 5:26PM EDT

TORONTO -- Hudson's Bay Co. (TSX:HBC) says chief executive Jerry Storch is leaving the company and returning to his own consulting firm as of Nov. 1.

Storch is a former CEO of Toys "R" Us who joined the Toronto-based retail company in January 2015, succeeding Richard Baker as HBC's chief executive.

Baker will re-assume the CEO's duties on an interim basis while the company searches for a permanent replacement for Storch.

Baker thanked Storch and said HBC's team is focused on delivering a strong holiday season and getting the most value from its retail and real estate assets.

Storch's departure was announced after the Toronto Stock Exchange closed Friday. The stock was at $11.96 in Toronto prior to the announcement.

Let's block ads! (Why?)

Bagikan Berita Ini