Harrod’s Exec Named President of Saks

by Harry Sheff
Marigay McKee
Marigay McKee
Hudson’s Bay Company (HBC) has named Harrod’s chief merchant Marigay McKee as the new president of Saks Fifth Avenue and promoted Saks Inc. EVP/director of stores Jennifer de Winter to chief merchandising officer.

The official word comes a day after Saks CEO Steve Sadove and chief merchant Ron Frasch announced that they would be leaving the company in the wake of its acquisition by HBC.

Media reports speculated yesterday that Sadove would not be replaced and that McKee was a top contender for the chief merchant position; the CEO position will indeed remain unfilled but McKee will be president, not chief merchant. She will report to HBC CEO Richard Baker.

“Marigay McKee’s experience as an effective world-class leader in the international luxury retail space is well-aligned with our vision for the Saks Fifth Avenue brand,” said Baker. “She has a proven track record of success at the highest level of luxury and I’m very excited for her to head up our Saks business at HBC.”

McKee has been at Harrod’s since 1999. She has served as GMM of beauty, with more categories added throughout the years until 2007 when she became responsible for all fashion and beauty. She was named chief merchant in 2011.

To manage the changing structure of HBC’s businesses, Baker said he’s creating an Office of the Chairman with himself at the helm and Donald Watros as chief operating officer.

“By creating a well-coordinated operating structure reporting to the Office of the Chairman, we can ensure that each business is managed in a consistent fashion aligned with HBC’s corporate goals,” explained Watros. “Furthermore, this structure will provide each brand with the resources and investment it needs to best serve its customers and realize its growth potential, maximizing the performance of the company overall.”

Four retail business divisions will report to the Office of the Chairman: the HBC Department Store Group, which consists of Hudson’s Bay and Lord & Taylor; Saks Fifth Avenue; the Outlets division and the Home Outfitters division.

Integration of the Saks business with HBC—pending successful completion of the acquisition—will be handled by HBC EVP Marc Metrick, who will become chief administrative officer, reporting to the Office of the Chairman.