Jerry Storch

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 2017. 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. Jerry was CEO of HBC, the global retail giant. HBC banners span from luxury to off-price, including Saks Fifth Avenue, Lord & Taylor, Gilt, Saks Off5th, Hudson’s Bay (Canadian and Dutch market leader), Galleria Kaufhof (Germany) and Inno (Belgium). Jerry has also been Chairman and CEO of Toys”R”Us, where Mr. Storch led a resurgence of the business and grew the company into a $13 billion global retailer. He expanded the company’s ecommerce business to over $1 billion, drove international growth into China and throughout the world, and oversaw large-scale mergers and acquisitions that included the purchase of FAO Schwarz, eToys and KB Toys. Prior to his tenure at Toys“R“Us, Mr. Storch served as Vice Chairman of Target, a $70 billion retailer. At Target he founded and grew the retailer’s ecommerce site, target.com, from scratch into a major business. Mr. Storch also founded and ran the Target grocery business, founded and oversaw the Target Financial Services credit card business, oversaw Marshall Field’s Department Stores, and headed strategy for over a decade. Mr. Storch also was a Principal at McKinsey & Company and from 1982 to 1993 leading consulting projects for Fortune 500 companies. Mr. Storch counseled clients in both consumer goods and financial services, including some of the nation’s largest packaged goods, retailing, restaurant, banking, and insurance companies. Mr. Storch received a Master of Business Administration from Harvard Business School, a Juris Doctor from Harvard Law School, and a Bachelor of Arts from Harvard College. Currently Mr. Storch is focused on Storch Advisors and is a member of the Board of Directors of Bristol Myers Squibb and Fanatics.