Saks CEO and president leaving when Hudson's Bay deal closes

Mon Sep 16, 2013 9:30am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

Sept 16 (Reuters) - Saks Inc said on Monday that Chairman and Chief Executive Officer Stephen Sadove and President and Chief Merchant Ronald Frasch are set to leave the department store chain once it is acquired by Hudson's Bay Co .

The $2.4 billion deal, announced in July, has been approved by each company's board and is expected to close before the end of the year. The closing is subject to the approval of Saks' shareholders, among other conditions.