Saks’ CEO Baker to Exit Luxury Retailer Ahead of Bankruptcy

Saks Global Enterprises’ Chief Executive Officer Richard Baker is departing the beleaguered luxury conglomerate he created as it prepares to restructure under bankruptcy court protection.

Baker, who has been CEO and also executive chairman of the department store chain, had been finalizing his exit over the past few days, according to people familiar with the situation who asked not to be identified because the move hasn’t been announced yet.