Former UK Managing Director Roger McLaughlan for Toys R Us, resigns only a few months into his new role as Chief Merchandise Officer for Europe, which occurred as a result of a European restructure. He has been replaced by John Declerck, who was Group Strategy Director at Kingfisher until April 2014 and then a strategic advisor at Cairngorm Capital for a year and a half.
Toys R Us revealed they were restructuring their European Business in March so that they could drive “stronger harmonisation and create greater efficiencies across its business in Europe”. As part of this, they moved from a decentralised country-by-country leadership structure to a “more centralised pan-Euoprean approach”. Their newly formed European management board reports to Dr Wolgang Link, President of Toys R Us Europe. On the board, alongside Chief Merchandise Officer, includes: Chief Operating Officer Jacobo Caller, who was MD of their Iberian business; Chief Marketing and Ecommerce Officer Michael Melzer, former MD of their central European operation; Chief Financial Officer Enrique Gonzalez, previously Finance Director for Southern Europe.
Toys R Us have reported a fourth consecutive annual profit drop in the UK, as pre-tax profits for the year ending February 2014 fell 24% to £4.55m. This is due to online rivals, such as global etail giant Amazon, and supermarkets impinging on the toy market, such as Tesco and Asda.