• Most Popular
  • Most Shared

FAO Schwarz CEO Schmults resigns; Barry Erdos takes job

Wed Mar 18, 2009 3:03pm EDT

Stocks

   

* CEO Edward Schmults resigns to pursue other interests

* Barry Erdos, ex-president of Bluefly, named new CEO

NEW YORK, March 18 (Reuters) - Specialty U.S. toy retailer FAO Schwarz said on Wednesday that its chief executive, Edward Schmults, has resigned and will be replaced by Barry Erdos.

Schmults, who has been the CEO of FAO Schwarz since September 2005, left the job to pursue other interests, the company said in a statement. A spokeswoman for the retailer declined to give further details.

Erdos was most recently the president and chief operating officer at Bluefly Inc, an online retailer of designer brands and fashion trends. He has also worked for Build-A-Bear Workshop (BBW.N) and clothing retailer AnnTaylor Stores Corp (ANN.N) in the past, FAO Schwarz said.

The toy retailer has stores within Macy's Inc (M.N) department store locations and also operates separate stores in New York City and Las Vegas. (Reporting by Aarthi Sivaraman; Editing by Gary Hill)



More from Reuters

Photo

Senate on track to pass healthcare bill

WASHINGTON (Reuters) - Senate Democrats moved closer on Monday to passing landmark healthcare legislation by Christmas after scoring a win in the first big test vote and gaining the support of a powerful lobbying group for doctors. | Video

» More Top News
Photo

Political risk clouds Asia

The economic outlook is strong, but the danger of a sudden correction hangs over Asian markets - as political risks could turn sunshine to storm clouds in the blink of an eye.  Full Article 

Global Markets
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review