Two senior directors set to leave US toy giant
The chairman and chief executive officer of Toys R Us, as well as its chief operating officer, will leave the toy retailer when it is sold to a private consortium this summer.
Employees of the beleaguered Toys R Us were told yesterday morning that chairman and CEO John Eyler Jr and COO Christopher Kay would leave when the sale is completed, which is expected at the end of July.
Toys R Us will become a private company if stockholders on Thursday approve the controversial sale to a consortium of Kohlberg Kravis Roberts & Co, Bain Capital and Vornado Realty Trust. On Friday, a group of shareholders unsuccessfully attempted to win an injunction to stop tomorrow's stockholder meeting.
In a statement, Eyler said he and Kay have spent much time with the investment group and are comfortable it 'will build on the momentum that the Toys R Us team has worked so hard to establish.'
No comments yet