Harrods chief merchant Marigay McKee will become the new president of Saks Fifth Avenue after its purchase by Hudson’s Bay Co. is complete, the company announced in a statement.
She will replace Ron Frasch, who had announced he will resign after the merger, as will chairman and CEO Steve Sadove. The sale is expected to be completed by the end of the calendar year.
McKee will bring more than 20 years of management and merchandising experience to Saks and HBC, much of it from her tenure with the British department store.
Under a new restructuring, most Saks top executives will report to the chairman of Hudson’s Bay, Richard Baker, after the purchase.
The company also announced that Marc Metrick, currently executive vice president of Hudson’s Bay, will become Saks’ chief administrative officer, reporting to the chairman. His principal responsibility will be integrating the Saks business into the HBC portfolio.
In addition, Jennifer de Winter, the current EVP, director of stores for Saks, will take on the role of saks EVP, chief merchandising officer.