Saks Global CEO Exits As Troubled Retailer Eyes $1 Billion To Keep Running

How a real estate scion's risky dealmaking pushed Saks Global to the brink

In the retail world, Saks Global executive chairman and newly appointed CEO Richard Baker is known for having the opposite of the “Midas touch” when it comes to dealmaking. The real estate scion bought the Lord & Taylor department store chain in 2006 and then sold it in 2019 as a shell of its former itself—after which its new owner shut its brick-and-mortar stores the following year. Ditto the Hudson’s Bay chain in Canada, which Baker bought in …

Saks Global CEO Exits As Troubled Retailer Eyes $1 Billion To Keep Running

On Jan. 2, Saks Global CEO Marc Metrick stepped down after 30 years at the company. Puck's Lauren Sherman was the first to break the news on Dec. 28. Richard Baker, executive chairman of Saks Global, will take over his position. Metrick's resignation comes shortly after the retailer missed another multi-million dollar debt payment and reportedly is preparing to file for bankruptcy. "Marc has been a valued leader at Saks for many years, helping t…

Saks CEO Steps Down as Luxury Retailer is Battered by Debt

The top executive of the private company that owns Saks Fifth Avenue and Neiman Marcus is stepping down as it struggles with debt taken on to buy a rival nearly two years ago.

Saks Global CEO Marc Metrick Steps Down Amid Debt Troubles

Marc Metrick has stepped down as CEO of Saks Global, the company announced Friday, Jan. 2, 2026. The leadership change comes as the luxury retailer missed an interest payment on its debt Tuesday, Dec. 30, 2025, an amount that totaled more than $100 million, reports The Wall Street Journal. Now the company is reportedly weighing its options, including bankruptcy, according to The New York Times. Financial Struggles Mount At Saks Global Saks’ fina…

Can new CEO Richard Baker revive Saks Global?

Saks Global faces mounting financial pressure as CEO Marc Metrick steps down, Richard Baker takes over, and bondholders weigh bankruptcy options that could reshape the future of luxury retail.

Troubles for Saks Fifth Avenue Continue, Gracie Abrams New Gig

ICYMI! One major piece of news over the holiday break was the exit of longtime Saks Fifth Avenue executive Marc Metrick,