Photo: The Canadian Press
Jerry Storch, CEO of Hudson's Bay Co. addresses the company's shareholders during the annual meeting of its shareholders in Toronto on Friday, June 3, 2016. Hudson's Bay Co. says chief executive Jerry Storch is leaving the company as of Nov. 1. Chairman Richard Baker will assume the CEO's duties on an interim basis while the company searches for a replacement for Storch. THE CANADIAN PRESS/Christopher Katsarov
Hudson's Bay Co. (TSX:HBC) says chief executive Jerry Storch is leaving the company and returning to his own consulting firm as of Nov. 1.
Storch is a former CEO of Toys "R" Us who joined the Toronto-based retail company in January 2015, succeeding Richard Baker as HBC's chief executive.
Baker will re-assume the CEO's duties on an interim basis while the company searches for a permanent replacement for Storch.
Baker thanked Storch and said HBC's team is focused on delivering a strong holiday season and getting the most value from its retail and real estate assets.
Storch's departure was announced after the Toronto Stock Exchange closed Friday. The stock was at $11.96 in Toronto prior to the announcement.