Marigay McKee named President of Saks

She was most recently Chief Merchandising Manager at Harrods

Soon after the acquisition of US luxury retailer Saks by Hudson’s Bay Company (HBC), the Canadian department store operator has announced the appointment of Marigay McKee as the President of Saks Fifth Avenue. The appointment will take effect after the completion of the acquisition, which is expected to close before the end of this year.

In late July, HBC revealed that it is to acquire Saks for US$16 per share in an all-cash transaction valued at $2.9bn, including debt.

"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 Richard Baker, Governor and CEO of Hudson's Bay Company. "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 joins Hudson's Bay Company from Harrods, where she have served as Chief Merchant since 2011. She first joined Harrods in 1999 and was appointed General Merchandising Manager of Beauty in 2000.

In addition to the appointment of McKee, HBC has created a new Office of the Chairman, consisting of Richard Baker, Governor and CEO, and Donald Watros, Chief Operating Officer. The new Office will be responsible for managing and growing HBC, along with its portfolio of brands.

Meanwhile, Marc Metrick, currently EVP of HBC, will become Chief Administrative Officer as Jennifer de Winter, currently EVP, Director of Stores for Saks, will take on the role of EVP, Chief Merchandising Officer of Saks Fifth Avenue.

Finally, Steve Sadove, Chairman & CEO of Saks Incorporated, and Ron Frasch, President and Chief Merchant of Saks Fifth Avenue, will not continue with the company following the close of the transaction.

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