Pursuits
Hudson’s Bay Hires Harrods Chief Merchant McKee for Saks
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Hudson’s Bay Co., the Canadian department store chain that’s acquiring Saks Inc. for $2.4 billion, hired Marigay McKee, Harrods’ chief merchant, to be president of the U.S. luxury retailer once the deal is complete.
Stephen Sadove, Saks’s current chief executive officer, and Ron Frasch, the retailer’s president, will leave when the transaction is complete, according to a statement from Toronto-based Hudson’s Bay yesterday. The deal is expected to close by the end of the year. McKee is a 14-year veteran of London-based Harrods, Europe’s largest department store.