Storch Out as Toys R Us CEO, Rubin in at Michaels

Feb 14, 2013 1:41 PM  By

Jerry Storch is stepping down as CEO at Toys R Us, but will retain his position as its chairman.

Toys R Us is coming off a poor holiday season. The company reported last month that its fourth-quarter sales were down 4.7% in the U.S., and 6.4% Internationally.

While Toys R Us accepted Storch’s resignation, at least three other merchants welcomed new CEOs this week.

Chris Vickers was promoted to president and CEO at Vermont Country Store. Vickers joined the company in 2010 as its chief merchandising and marketing officer.

Victor Luis was named president and chief commercial officer at Coach, and will succeed CEO Lew Frankfort in that capacity in January. Frankfort, who is also Coach’s chairman, will become its executive chairman as a part of the transition.

Luis has been president of Coach’s International group.

Chuck Rubin is stepping down as president and CEO of Ulta Beauty to take the CEO role at Michaels Stores. Dennis K. Eck, current Non-Executive Chairmanof the Board of Directors, has been named Interim CEO.

At Michaels, Rubin replaces John Menzer, who resigned in July due to medical reasons.