Saks Global CEO Marc Metrick is stepping down to pursue new opportunities, replaced by Richard Baker who will also remain as executive chairman. Baker aims to advance the company’s transformation and enhance products and services. Metrick, almost 30-year veteran at Saks, expressed pride in the retailer’s accomplishments. Saks Global faces financial struggles and potential bankruptcy, with reports suggesting it could be imminent due to missed debt payments. Created by a merger of luxury rivals Saks Fifth Avenue and Neiman Marcus, Saks Global has faced challenges since 2024, including declining sales and mounting debt.

Read more at Yahoo Finance: Saks Global CEO Marc Metrick exits