Storch to step down as Toys R Us CEO, to stay as board chairman
Feb 13 (Reuters) - Toys R Us Inc said on Wednesday that Gerald Storch, 56, will step down as chief executive of the world's largest dedicated toy retailer, while remaining chairman of the board.
The company said it will start a search for a successor.
Storch, who joined Toys R Us in 2006 after it was taken private by KKR & Co LP, Bain Capital and Vornado Realty Trust in a $6.6 billion deal, will continue as CEO during the transition period.
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- Carnage at U.N. school as Israel pounds Gaza Strip |
- U.S. economy back on track with strong second-quarter rebound |
- Argentina fails to reach debt agreement, default looms
- Obama to Republicans: ‘Stop just hatin’ all the time’