Hudsons Bay Co CEO Gerald Storch leaving executive chairman assuming CEO role

TORONTO — 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.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.Baker thanked Storch and said HBC’s team is focused on delivering a strong holiday season and getting the most value from its retail and real estate assets.Storch’s departure was announced after the Toronto Stock Exchange closed Friday. The stock was at $11.96 in Toronto prior to the announcement.

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