Richard Baker news and archive

Richard Baker named CEO of Saks Global as Marc Metrick steps down

The rumors surrounding a potential CEO exit at Saks Global have been confirmed. Richard Baker, the company’s Executive Chairman, has assumed the role of Chief Executive Officer while retaining his chairman duties, the company announced on Friday. Marc Metrick, who had led the luxury retail group as CEO, is stepping down after nearly three...

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Hudson’s Bay Company agrees to takeover bid from Baker-led group

Hudson’s Bay Company (HBC) has announced that, it has entered into a definitive arrangement agreement with a group of HBC shareholders backed by Executive Chairman Richard Baker, to take the Company private. The company said in a statement that the shareholder group, who collectively owns approximately 57 percent of the common shares, will be...

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HBC in talks to go private

After shuttering Lord & Taylor, selling off Gilt, and working to keep Saks competitive in an increasingly crowded retail field with more luxury e-commerce players popping up, Hudson's Bay Co. is now considering going private. Richard Baker, the executive chairman of Saks, is now leading a bid to take the retail company private. Baker, along with...