Harrods boss Marigay McKee leaving for Saks

Fashion

Marigay McKee, chief merchant at Harrods, has been confirmed as the new president of Saks Fifth Avenue, following Hudson’s Bay Company’s acquisition of the American retailer. The appointment will take effect shortly after completion of HBC’s

acquisition of Saks, which is expected to close before the end of the year.

"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, who joined Harrods in 1999, has been running the luxury department store as chief merchant alongside managing director Michael Ward since 2011. During her time with the retailer she has been responsible for the brand and merchandising strategy, marketing and visual merchandising.

In addition to her role at Harrods, McKee is a member of the British Fashion Council board, chairman of the BFC/Vogue Fashion Fund Mentoring Committee, and a luxury advisor to the Financial Times.

Commenting on her appointment, McKee said: "I am delighted to join Hudson's Bay Company to head up Saks Fifth Avenue and work with their dedicated team. Saks Fifth Avenue is one of the world's preeminent luxury retailers with a rich history and tradition of exceptional customer service.

“Saks presents a great opportunity as a world class brand with new frontiers for development. I'm excited for this unique challenge as we embark on this new chapter at the company."

Saks appoints new president and overhauls organisational structure

McKee's new appointment is part of an overhaul of Saks’ and HBC’s organisation structure, which also includes the creation of a new office of the chairman at HBC, consisting of Richard Baker, governor and CEO, and Donald Watros, chief operating officer. The senior executives of HBC's retail businesses, as well as other key holding company executives and the heads of certain shared services units, will report to the office of the chairman.

The new organisational structure is designed to “advance” the Company's development as a growing, premier North American retailer and ensure a seamless merger process with Saks.

Baker added: "With the office of the chairman we are creating a robust leadership team that will focus on managing and growing HBC, along with our strong and expanding portfolio of brands. Our goals for this new structure are to maintain the unique identity of each retail brand, to build an effective and cost-efficient platform of shared services, and to position the Company for growth and expansion."

Additionally, it has been announced that Marc Metrick, currently executive vice president of HBC, will become chief administrative officer reporting to the office of the chairman. In his new role, Metrick's principal responsibility will be integrating the Saks business into the HBC portfolio.

There has also been a change in role for Jennifer de Winter, currently EVP, director of stores for Saks, Inc., who will now be the EVP, chief merchandising officer of Saks Fifth Avenue, reporting into McKee.

Due to the new organisation structure, it has been confirmed that Steve Sadove, chairman and 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.

Images: Marigay McKee / Saks Fifth Avenue