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New Toy King

Biz BriefsGerald L. Storch was named chairman and CEO by the board of directors at toy retailer Toys “R” Us in Wayne. He was previously vice chairman of the Target discount retail chain where he rose through the executive ranks, starting in 1993 as a senior vice president. He left the Minneapolis company in October, though he was seen as a possible heir apparent to Target CEO Robert Ulrich.

Toys “R” Us was acquired and taken private last July by Bain Capital partners, Kohlberg Kravis Roberts & Co. and Vornado Realty trust. Rock Markee, vice chairman of Toys “R” Us and president of Babies “R” Us, filled in as CEO while the executive search was underway. Markee will resume his previous duties.