Report: Toys ‘R’ Us execs are exiting early—with bonuses
A number of Toys “R” Us execs seem to be abandoning ship early.
The bankrupt retailer may still be in the process of liquidating its U.S. operations, however chief executive David Brandon and many of his top executives are expected to leave the company — with bonuses in hand — on Monday, May 14, according to The New York Post.
As the executives depart, thousands of hourly workers will be left to complete liquidation sales at hundreds of stores across the country. The last sales are expected to end in July.
The company’s spokeswoman Amy Von Walter said in the report, that Brandon and at least eight other senior executives, including CFO Michael Short, general counsel James Young and controller Charles Knight are leaving. They are among 1,159 employees who have either already left, or will soon leave the Wayne, N.J.-based headquarters.
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GameStop is on the hunt for a new CEO
After only three months on the job, GameStop’s CEO is stepping down.
Michael Mauler is resigning from his role as CEO, effective immediately. He is leaving for personal reasons, according to the company.
Board member and GameStop co-founder Daniel DeMatteo will serve as interim CEO during the search for a new chief executive. DeMatteo previously served as CEO from August 2008 to June 2010.
Mauler was appointed as CEO in February. He succeeded Paul Raines, who resigned from all duties at the company in late January in order to focus on his health and family, according to reports. Raines had temporary stepped down as CEO in November 2017, to deal with the reoccurrence of a brain tumor. He was replaced on an interim basis by DeMatteo.
Mauler has been with the company for more than 16 years, previously serving as executive VP and president of international, which consists of nearly 2,000 stores operating under the GameStop, EB Games, Micromania and Zing Pop Culture brands.
Mauler is not the first chief executive to leave abruptly. Just days after appointing Mauler to his post, the company terminated COO Tony Bartel, and executive VP of strategic business and brand development, Michael Hogan. According to a regulatory filing, the company said the terminations were without cause, and both executives received payment and benefits as provided in their contracts.
Columbia Sportswear taps former Gap vet to lead merchandising
Columbia Sportswear’s namesake brand has a new global merchandising chief.
The company named Michael Richardson as VP of global merchandising for the Columbia brand, effective April 23. He will report to executive VP and Columbia brand president Joe Boyle.
In his new role, Richardson will be responsible for developing and executing the strategic vision for Columbia’s global apparel product assortment. His efforts will help the company “transform Columbia into a multichannel consumer brand,” said Boyle.
Richardson brings 30 years of retail industry experience to the position, most of it gained at Gap Inc. He spent nine years in merchandising roles at Gap, most recently, serving as VP of franchise product. In this role, he managed the product teams in merchandising, planning and buying for the Gap, Banana Republic and Old Navy franchise businesses across approximately 40 countries.
Richardson joined Gap in 1993, as a divisional merchandise manager — a position he held for 15 years. Richardson was also president and principle for Coopers Gourmet Foods. He started his career as VP and general manager for sporting goods retailer Sports Country Ltd.