At presentations today for investors, industry analysts, and the media, Toys “R” Us Inc. provided an update on its strategy to improve the company’s operational performance, as it continues its work to position the business for long-term profitable growth.
Toys “R” Us Inc. has named two seasoned executives with deep international and domestic retail expertise to lead the global franchise and its domestic business. Antonio Urcelay has been named CEO, Toys “R” Us Inc., effective immediately, after serving as the company’s interim CEO since May. Hank Mullany, an experienced retail executive with a strong background in operations, finance, customer service, and strategic planning, has been named president, Toys “R” Us, U.S., effective November 5.
Urcelay, 61, a respected global retail leader, joined Toys “R” Us in 1996. Over the course of his tenure with the organization, he has held roles of increasing responsibility. He will continue to provide worldwide leadership in driving key strategies and growth initiatives in the company’s more than 1,500 stores in 36 countries and jurisdictions worldwide. Known for building strong teams, implementing best practices across the organization and focusing intently on customer service, Urcelay has been instrumental in creating strategies to drive growth in global markets by placing an emphasis on thinking locally. Prior to joining Toys “R” Us, Urcelay spent the majority of his career working in the retail and consumer packaged goods industries, including Spanish dairy company Leche Pascual, Dutch supermarket chain Royal Ahold, and the Spanish subsidiary of Procter & Gamble.
Mullany, 55, has an established track record of developing and executing strategies, revitalizing underperforming businesses, and consistently delivering results. He previously served as CEO of The ServiceMaster Co., one of the world’s largest residential and commercial service businesses, and prior to that, was executive vice president of Walmart U.S. and president of Walmart’s northern business, with operational responsibility for more than $90 billion in revenue, more than 400,000 associates in 1,300 stores and 28 distribution centers in 19 states. In his new position at Toys “R” Us, Mullany will oversee all merchandising, marketing, e-commerce, and store operations responsibilities for the 878 U.S. store division. He will report to Urcelay.