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Hudson’s Bay Hires Former Toys “R” Us Chief Executive of as New CEO

Hudson’s Bay Co. (HBC), a Canadian retail business group, has appointed the former chief executive of Toys “R” Us Inc., Gerald Storch, as its new CEO.

Storch, who is replacing Richard Baker on Jan. 6, will be responsible for Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Saks OFF 5th, Home Outfitters and HBC Digital. Baker will reportedly stay on as governor and executive chairman.

Prior to his tenure at Toys “R” Us, Storch was vice-chairman of retail giant Target, where he founded target.com, spearheaded its grocery business, and initiated its entry into the online and credit card businesses.

Baker, who is also the principal owner of HBC, said, “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.” He added, “We believe he change will enhance our growth strategy.”

Storch has been assisting the development of strategy for HBC’S Saks Off 5th outlets, which was included in its purchase of U.S. upscale retailer Saks Inc. last year for $2.4 billion.

The company also announced that Donald Watros has been appointed as president of HBC’S newly created international unit, which is set to seek out international expansion opportunities.