Tuesday September 17th, 2013 - 9:30AM
Hudson’s Bay Company has announced the appointment of Marigay McKee as the future president of Saks Fifth Avenue. The appointment will take effect shortly after completion of the planned Saks acquisition, which is expected to close before the end of the calendar year, subject to approval by Saks shareholders, regulatory approvals and other customary closing conditions.
“Marigay McKee’s experience as an effective world-class leader in the international luxury retail space is well-aligned with our vision for the Saks Fifth Avenue brand,” said Richard Baker, governor and CEO of Hudson’s Bay Company. “She has a proven track record of success at the highest level of luxury and I’m very excited for her to head up our Saks business at HBC.”
McKee joins Hudson’s Bay Company with an extensive resume in the luxury retail sector and over 20 years of management and merchandising experience. As chief merchant of Harrods, she has overseen the planning and implementation of the merchandising and creative strategies since 2011. She has served on the company’s board of directors since 2005, where she worked closely with the company’s shareholders and owners to set the strategic vision for the organization, according to HBC.
“I am delighted to join Hudson’s Bay Company to head up Saks Fifth Avenue and work with their dedicated team,” said McKee. “Saks Fifth Avenue is one of the world’s preeminent luxury retailers with a rich history and tradition of exceptional customer service.”
McKee added, "Saks presents a great opportunity as a world class brand with new frontiers for development. I'm excited for this unique challenge as we embark on this new chapter at the company."
In addition, HBC announced the creation of a new Office of the Chairman, consisting of Richard Baker, governor and CEO, and Donald Watros, COO. The senior executives of HBC’s retail businesses, as well as other key holding company executives and the heads of certain shared services units, will report to the Office of the Chairman. This new organizational structure is designed to advance the company’s development as a growing, premier North American retailer and ensure a seamless merger process with Saks.
Baker added, “With the Office of the Chairman we are creating a robust leadership team that will focus on managing and growing HBC, along with our strong and expanding portfolio of brands. Our goals for this new structure are to maintain the unique identity of each retail brand, to build an effective and cost-efficient platform of shared services, and to position the company for growth and expansion.”
Watros noted, “By creating a well-coordinated operating structure reporting to the Office of the Chairman, we can ensure that each business is managed in a consistent fashion aligned with HBC’s corporate goals. Furthermore, this structure will provide each brand with the resources and investment it needs to best serve its customers and realize its growth potential, maximizing the performance of the company overall.”
Marc Metrick, currently evp/HBC, will become chief administrative officer, reporting to the Office of the Chairman. In his new role, Metrick’s principal responsibility will be integrating the Saks business into the HBC portfolio.
Jennifer de Winter, currently evp, director of stores for Saks, Inc. will take on the role of evp, chief merchandising officer of Saks Fifth Avenue, where she will report to McKee.