GERALD L. STORCH STEPS DOWN AS CEO OF TOYS”R”US
February 14, 2013

TOYS“R”US, INC. ANNOUNCES GERALD L. STORCH TO TRANSITION FROM ROLE AS CHIEF EXECUTIVE OFFICER; WILL REMAIN CHAIRMAN OF THE BOARD

TRU_Logo_New2 WAYNE, NJ (February 13, 2013) – Toys“R”Us, Inc. today announced that Gerald L. Storch will transition from his role as Chief Executive Officer of the company, while remaining in his capacity as Chairman of the Board. The company will begin a search for a successor Chief Executive Officer, and Mr. Storch will continue in his position as CEO during the transition period.

Mr. Storch, 56, joined the company in February 2006 following its acquisition by an investment group consisting of affiliates of Bain Capital Partners LLC, Kohlberg Kravis Roberts & Co. (NYSE: KKR), and Vornado Realty Trust (NYSE: VNO). As Chairman of the Board, Mr. Storch will continue to provide strategic guidance and play a key role in its growth initiatives.

The Toys“R”Us, Inc. Board of Directors said, “Jerry has done an exceptional job in rebuilding the company, while successfully leading it through an extremely difficult global economic environment. We are grateful for his leadership over the past seven years and for the strong foundation he has built for the future. 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. Under Jerry’s leadership, we rolled out the integrated store strategy around the world and made a number of strategic acquisitions. Most recently, in acquiring the majority stake in the company’s business in Southeast Asia and Greater China, he has provided the company with a long runway for growth abroad. We thank Jerry for his strategic repositioning of the business.”

“I am incredibly proud of what we have accomplished together over the past seven years,” said Mr. 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’.’’

About Toys“R”Us, Inc.

Toys“R”Us, Inc. is the world’s leading dedicated toy and juvenile products retailer, offering a differentiated shopping experience through its family of brands. Merchandise is sold in 872 Toys“R”Us and Babies“R”Us stores in the United States and Puerto Rico, and in more than 645 international stores and over 150 licensed stores in 35 countries and jurisdictions. In addition, it exclusively operates the legendary FAO Schwarz brand and sells extraordinary toys in the brand’s flagship store on Fifth Avenue in New York City. With its strong portfolio of e-commerce sites including Toysrus.com, Babiesrus.com, eToys.com and FAO.com, it provides shoppers with a broad online selection of distinctive toy and baby products. Headquartered in Wayne, NJ, Toys“R”Us, Inc. employs approximately 70,000 associates annually worldwide. The company is committed to serving its communities as a caring and reputable neighbor through programs dedicated to keeping kids safe and helping them in times of need. Additional information about Toys“R”Us, Inc. can be found on Toysrusinc.com. Follow Toys“R”Us, Babies“R”Us and FAO Schwarz on Facebook at Facebook.com/Toysrus, Facebook.com/Babiesrus and Facebook.com/FAO and on Twitter at Twitter.com/Toysrus and Twitter.com/Babiesrus.

Daniel Pickett
Daniel “Julius Marx” Pickett has been around toys his whole life. The first line he ever collected was Mego’s World’s Greatest Super Heroes line back in the 70s. He has been surrounded by collectables ever since. In 1999 he was confounded by a lack of information and news about some of his favorite toy lines he was collecting. Since he couldn’t find the information he decided to pursue it himself thinking other people might also be interested in the same news. He started writing a weekly column on the toy industry and action figure for a toy news site and in a years time he tripled the sites daily traffic with his updates, reviews and product features. He built relationships with every major toy manufacturer and many sculptors, painters and mold makers. He grew his hobby into a world wide expertise that the industry has embraced. In 2004 he teamed up with his toy buddy Jason “ToyOtter” Geyer and they created their own website www.ActionFigureInsider.com. Daniel has been quoted in both industry and mass media press outlets. Over the years Daniel and AFi have been sought out as experts in the field. Daniel was regularly featured on “Attack of the Show” on the G4 network as the primary contributor to their “Mint On Card” segment, and our front page has been linked to from USA Today’s “Pop Candy” Blog twice. Daniel’s content has also been featured on MSNBC.com, Wired.com, Fark.com, Boing-Boing, Gizmodo.com, Ain’t It Cool News, the Official Star Wars blog, Geekologie, G4, CNet and Toy Fare magazine, among many others. He has consulted on toy lines, books, documentaries and TV shows. But all of that really just sounds snooty and “tootin’ his own horn” – the long and short of it is that Daniel loves toys and he LOVES talking about them.
Read other articles by Daniel Pickett.

 

 

 

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