Toronto -- Hudson’s Bay Co. (HBC) has appointed Marigay McKee, chief merchant of Harrods, as the future president of Saks Fifth Avenue. The appointment follows the news that Saks chairman and CEO Stephen Sadove and president and chief merchant Ronald Frasch will leave the company once it is acquired by Hudson's Bay.
McKee joins HBC with more than 20 years of management and merchandising experience. As chief merchant of Harrods, she has overseen the planning and implementation of the merchandising and creative strategies since 2011. She has served on the company's board of directors since 2005 and joined in 1999.
"I am delighted to join Hudson's Bay Company to head up Saks Fifth Avenue and work with their dedicated team," said McKee. "Saks Fifth Avenue is one of the world's preeminent luxury retailers with a rich history and tradition of exceptional customer service." McKee added, "Saks presents a great opportunity as a world class brand with new frontiers for development. I'm excited for this unique challenge as we embark on this new chapter at the company."
HBC also announced the creation of a new Office of the Chairman, consisting of Richard Baker, CEO, and Donald Watros, COO. The senior executives of HBC's retail businesses, as well as other key holding company executives and the heads of certain shared services units, will report to the Office of the Chairman.
McKee’s appointment will take effect shortly after completion of HBC’s planned Saks acquisition, which is expected to close before the end of the calendar year, subject to approval by Saks shareholders, regulatory approvals and other customary closing conditions.