Urcelay named chairman at Toys “R” Us

Antonio Urcelay has replaced Gerald Storch as chairman of Toys “R” Us and the retailer also named Richard Markee to its board.

Urcelay had served as interim CEO at Toys “R” Us since May 2013 and was officially named CEO in October. Storch, who had previously served as CEO, is stepping down as chairman to dedicate more time to his consulting company, Storch Advisors, Toys “R” Us said in a filing with the Securities and Exchange Commission. It also noted in the filing that Storch’s resignation from the chairmanship was not due to any disagreement with the company.

In conjunction with his departure, Toys “R” Us named Richard Markee to the board. He has served as executive chairman of Vitamin Shoppe since April 2011 and from 2009 to 2011 he served as CEO. Prior to Vitamin Shoppe, Markee was an operating partner of Irving Place Capital Management, L.P., a private equity firm focused on making equity investments in middle-market companies, from November 2008 to September 2009. From 2006 to 2008, Markee was an operating partner of Bear Stearns Merchant Banking, the predecessor to Irving Place Capital Management, L.P.