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NEW YORK (AP) - Toys R Us Inc., the nation's second-largest toy retailer, said Tuesday it named Gerald L. Storch, a former vice chairman of Target Corp. with experience in rejuvenating tired retailers, as its new chairman and CEO.
Storch fills the top spot left open when John H. Eyler departed in July, after the company was taken private. Rick Markee, who served as the interim CEO since Eyler's departure, will continue in an executive capacity as vice chairman of the company and president of the Babies R Us division.
Storch, 49, who abruptly departed Target last October and who had been widely seen as the potential successor to Chairman and CEO Robert Ulrich, was responsible for several of Target's most important operations: financial services; technology, including the chain's Web site; distribution and strategic planning. Storch led the development of the SuperTarget grocery strategy and the turnaround of its former Marshall Field's division.
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