Gerard Storch, Chief Executive Officer of Toys “R” Us, will resign from that post but remain chairman of the board, the company announced Wednesday.
Storch, 56, joined the 60-year-old Wayne-based company seven years ago following its acquisition by a new group of investors as the company entered into a new period of growth.
“Jerry has done an exceptional job in rebuilding the company, while successfully leading it through an extremely difficult global economic environment,” the company said in a press release. “We are grateful for his leadership over the past seven years and for the strong foundation he has built for the future.”
Storch said he is “incredibly proud” of what he and company were able to accomplish together. “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’.’’
Toys R Us operates more than 870 Toys “R” Us and Babies “R” Us stores in the United States and nearly 650 international stores.