WAYNE, N.J. (AP) - The chairman and CEO of Toys R Us is retiring and will be succeeded by an executive with experience in taking companies public.
WAYNE, N.J. (AP) — The chairman and CEO of Toys R Us is retiring and will be succeeded by an executive with experience in taking companies public.
The privately held toy retailer said Tuesday that David Brandon will take over from Antonio Urcelay on July 1. The 63-year-old Brandon is the former chairman and CEO of Domino's Pizza, and helped that company with its initial public offering. Brandon also served as president and CEO of Valassis Communications and assisted with its transition to a publicly traded company.
In October Brandon resigned as athletic director at the University of Michigan amid another disappointing football season and concerns over the school's handling of everything from how it handled potential concussions to student attendance at games.
Urcelay, also 63, had served as chairman and CEO of Toys R Us since November 2013. He'd worked for the chain since 1996.
The Wayne, New Jersey, company went private in 2005 when it was acquired by Kohlberg Kravis Roberts & Co., Bain Capital Inc. and Vornado Realty Trust. It has 866 Toys R Us and Babies R Us stores in the U.S., Puerto Rico and Guam, 730 international stores and more than 240 licensed stores in 37 countries and jurisdictions. The company also exclusively operates the FAO Schwarz brand.