Toys ‘R’ Us CEO John Eyler and Chief Operating Officer Christopher Kay will leave the company after finishing its $6.6 billion sale to a private investment group.
Babies ‘R’ Us CEO Richard Markee will serve as interim CEO, per news reports. Eyler, who has been president-CEO since January 2000, has said he will retire.
The sale, to a group of investors including Kohlberg Kravis Roberts & Co., Bain Capital LLC and Vornado Realty Trust, is expected to close by the end of July.
Wayne, NJ-based Toys ‘R’ Us earlier this month reported that first-quarter sales rose 3.6% to $2.13 billion, but same-store sales in its flagship Toys ‘R’ Us units fell 0.7%. Babies ‘R’ Us sales rose 10.4% to $542 million for the quarter; same-store sales were up 4.3%, per Toys ‘R’ Us.
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