Wayne-based Toys“R”Us, Inc., today announced the appointment of David A. Brandon as chairman and CEO, effective July 1, succeeding Antonio Urcelay, who will retire from the company.
Brandon, 63, has deep experience in growing businesses, developing talent and building high-performance cultures that enable organizations to create and capture value. As chairman and CEO of Domino’s Pizza for 11 years, he led the company to unprecedented profit growth and the successful completion of the largest initial public offering in restaurant history, which subsequently doubled Domino’s enterprise value to $2.5 billion. Brandon has remained chairman of the Board of Domino’s as the company has further grown its value to over $7 billion. Prior to this, Brandon was President and Chief Executive Officer of Valassis Communications for nine years, a period during which he made significant improvements in its operational performance and led the company’s transition from a private family-owned business to a publicly traded industry leader of media and marketing services. He most recently served for nearly five years as director of Intercollegiate Athletics for his alma mater, the University of Michigan.
Regarding his new role, Brandon said, “I consider it a tremendous privilege to assume this important leadership role at Toys“R”Us, one of the most well-known retail brands in the world. And, I feel fortunate to be succeeding such an experienced and accomplished leader as Antonio. I believe our best days are ahead of us and I’m eager to get started. Meeting our employees and vendors is something I very much look forward to, as we begin to work together to drive future growth and create memorable shopping experiences for our customers.”
Urcelay, 63, joined Toys“R”Us, Inc. in 1996 and was appointed chairman and CEO in November 2013, after directing the organization’s European business for many years. Under his leadership, the company embarked upon its “TRU Transformation” strategy to position the business for sustainable long-term growth and leveraged its international scale in instituting a global approach to doing business.
Urcelay said, “It has been an honor to lead our 66,000 team members around the world for the past two years, capping what has been a wonderful 19 years of working with this great company. I am very proud of the progress we have made and the positive results we are already experiencing on the road to fully transforming the business. In my heart, I will always be a Toys“R”Us kid and you can be sure that I will be applauding the team’s many successes as the journey continues. Dave is exactly the right leader to take the company into the future, and I am fully confident that under his excellent leadership the team will accomplish many wonderful things.”
“Toys“R”Us has made significant progress in transforming the business in recent years. It must continue to execute its strategic plan and grow earnings, while energizing its authority position in the market through innovation,” the Toys“R”Us, Inc. Board of Directors said in a joint statement. “Dave Brandon has an exceptional track record of driving growth, operational performance and profitability in global businesses, while elevating brands and seizing opportunities in highly competitive markets. He is a charismatic and passionate leader with a deep commitment to developing talent and driving a team culture focused on achieving measurable results. We are excited to bring Dave’s leadership, skills and vision to Toys“R”Us at this important juncture, and grateful to Antonio for his service and many contributions to the company during a time of significant change and reinvention.”Related Articles: