Hudson’s Bay Co. has named Marc Metrick as the new president of Saks, replacing Marigay McKee, who was in the post for about 15 months.
Metrick — whose appointment is effective April 2 — spent 15 years of his career at Saks before becoming its chief strategy officer and ultimately joining Hudson’s Bay in 2012.
Hudson’s Bay bought Saks in July 2013 for $2.4 billion and tapped McKee shortly after for her retail savvy. Before crossing the pond, she rose through the ranks of London department store Harrods, becoming its chief merchant.
The retailer, in a statement, said McKee stepped down from her role based on a “mutual agreement with the company.”
“I am pleased with the journey we’ve been on these past 15 months and am proud of the renewed positioning of the Saks Fifth Avenue brand,” McKee said in a release. “I want to thank the great team who have worked so hard to drive this great business forward.”
Metrick most recently served as the firm’s EVP and chief administrative officer and was “instrumental in the acquisition of Saks Fifth Avenue and has since focused on developing the strategic plan that [Saks] is now successfully pursuing to revitalize the business,” according to Hudson Bay’s statement.
“Marc has played a leadership role in defining the future for Saks Fifth Avenue and putting in place the strategies geared towards delivering enhanced performance now and into the future,” said Richard Baker, Hudson’s governor and executive chairman. “He has the respect of his colleagues and enormous passion for the culture and brand of Saks Fifth Avenue. I am confident the company will thrive under his leadership.”
A company spokesperson added, “We’re sticking to the strategy that Richard laid out when he acquired Saks a year and a half ago. He’s changed the leadership for Saks, but the strategy will stay the same.”
