Toys"R"Us announces CEO departure

Comtex News Network

Feb 21, 2013 (Datamonitor via COMTEX) --Toys"R"Us, Inc., a toy and juvenile products retailer, has announced that Gerald Storch will depart as CEO of the company, while remaining in his capacity as chairman of the board.

The company will begin a search for a successor CEO, and Mr Storch will continue in his position as CEO during the transition period. Mr Storch, joined the company in February 2006 following its acquisition by an investment group consisting of affiliates of Bain Capital Partners LLC, Kohlberg Kravis Roberts & Co, and Vornado Realty Trust. As Chairman of the Board, Mr Storch will continue to provide strategic guidance, the company said.

"I am incredibly proud of what we have accomplished together over the past seven years," said Mr Storch. "The Toys"R"Us brand is stronger than ever due to the hard work and dedication of our talented team around the world. Looking to the future, we will always 'Play to Win'."

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