Former Toys “R” Us chief named CEO of Hudson’s Bay

Toronto - Hudson’s Bay Co. has named Gerald Storch, the former CEO of Toys “R” Us, as its new CEO, effective January 6. An industry veteran with over 30 years of experience, Storch oversaw the expansion of Toys “R” Us online and international business. Prior to joining the toy giant, he was vice-chairman of Target Corp., where he founded target.com, and ran the chain’s grocery business.



Storch replaces Richard Baker, the principal owner of HBC, who will stay on as governor and executive chairman.



“The Board and I could not be more pleased to have Jerry, an accomplished executive with a proven track record of growing retailers through both digital and traditional channels, join us,” Baker said. “We believe the change will enhance our growth strategy.”



Storch, who stepped down as CEO and chairman of Toys “R” Us in 2013, will be responsible for Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Saks OFF 5, Home Outfitters and HBC Digital.



HBC also announced on Wednesday that Donald Watros has been appointed as president of HBC’s newly created international unit, which will seek international expansion opportunities.



Founded in 1670, HBC is North America's longest continually operated company. Its Hudson's Bay division is Canada's most prominent department store chain, with 90 full-line locations, and two outlet stores.



Lord & Taylor operates 50 full-line locations primarily in the northeastern and mid-Atlantic U.S., four Lord & Taylor outlet locations. Saks Fifth Avenue is comprised of 39 U.S. stores, and five international licensed stores. Its OFF 5TH division operates 80 U.S. stores.Home Outfitters is Canada's largest kitchen, bed and bath specialty superstore with 69 locations.