Labor & Employment

WAYNE, N.J. — Gerald Storch, is vacating his role as CEO of Toys"R"Us after seven years of service. He will retain his title of chairman of the board and will continue as CEO until a successor is found.

Storch joined Toys'R'Us in February 2006 after spending more than 10 years at Target in roles of increasing seniority. At Target, Storch helped develop the Super Target concept and grow the company's grocery business. Prior to joining Target, he was a partner at McKinsey & Company, specializing in retail and financial services.

Wayne, N.J. -- The search is on for a new chief executive of Toys “R” Us with the announcement that Gerald L. Storch is stepping down as CEO of the company. The news comes just weeks after the world's largest dedicated toy retailer reported that its same-store U.S. sales fell 4.5% during the holiday season, and that its total sales fell 4.7%. 

Foothill Ranch, Calif. — The Wet Seal announced that Barbara Cook, SVP store operations, has resigned from the company to accept a new professional opportunity. Cook will remain with the company until Feb. 20 to assist with transition of her responsibilities.

John Goodman, CEO of The Wet Seal, Inc., commented: “We thank Barbara for her service to the company since joining us in late 2011 and wish her all the best in her new role.”

CHATTANOOGA, Tenn. -- CBL & Associates Properties has announced the promotions of Gary Roddy to VP collections, Tricia Tweedie to VP billings and Jim Ward to VP branding.

Commenting on the promotions, CBL’s president, Stephen Lebovitz said, “These individuals have established themselves as leaders within CBL in their respective fields and the shopping center industry. We are pleased to recognize their accomplishments and significant contributions to the company with these promotions.”

Chicago -- Claire’s Stores announced Tuesday that Sam’s Club EVP and chief merchandising officer Linda Hefner Filler has been named president of Claire’s North America, effective March 1.

Filler will report to CEO Jim Fielding and will be charged with implementing operational and strategic initiatives for Claire's in the U.S., Canada, Puerto Rico and the Virgin Islands.

HOUSTON — Stage Stores is consolidating its South Hill, Virginia regional operations into its Houston, Texas corporate headquarters, in an effort to increase efficiency, create synergies, reduce expenses and enhance growth.

Salt Lake City -- Overstock.com said Tuesday that chairman and CEO Patrick Byrne will take a leave of absence for medical reasons. Company president Jonathan Johnson will assume Byrne’s CEO duties during the leave, although Byrne will remain chairman of the board.

Byrne, in recent years, had undergone various procedures regarding cardiac issues that may stem from his earlier episodes of cancer, and his leave of absence is associated with these cardiac issues.

NAPERVILLE, Ill. -- OfficeMax has received approximately $129 million in cash proceeds related to its October 2004 investment in Boise Cascade Holdings, L.L.C.  Since 2004, OfficeMax has held two classes of securities in BCH, non-voting equity securities ("Series A Units") and voting equity securities ("Series B Units").