WAYNE, N.J. — Gerald Storch, is vacating his role as CEO of Toys"R"Us after seven years of service. He will retain his title of chairman of the board and will continue as CEO until a successor is found.
Storch joined Toys'R'Us in February 2006 after spending more than 10 years at Target in roles of increasing seniority. At Target, Storch helped develop the Super Target concept and grow the company's grocery business. Prior to joining Target, he was a partner at McKinsey & Company, specializing in retail and financial services.
With Storch at the helm of Toys'R'Us, Storch oversaw the rebuilding of the company and the launch of new initiatives, including the integration of Toys'R'Us and Babies'R'Us stores and the Express holiday concept.
The Toys“R”Us Inc. board of directors said, “Jerry has delivered some of the best financial results in the more than 60-year history of the company, including multiple years of achieving $1 billion or more in adjusted EBITDA. He has been tireless in his efforts to develop best-in-class e-commerce and omnichannel capabilities and in significantly expanding the development of proprietary and differentiated products.”
“I am incredibly proud of what we have accomplished together over the past seven years,” said 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’.’’