Sadove, Frasch to Exit Saks After Hudson's Bay Merger

Stephen SadoveStephen Sadove

NEW YORK-When Saks' merger with Hudson's Bay Co. is finalized, the retailer's chairman and CEO, Stephen Sadove, and president and chief merchant, Ronald Frasch, will leave the company, according to a Saks statement.

The planned merger, which was announced in July, is expected to be completed by the end of the calendar year. The statement did not comment on who would assume the leadership of Saks once Sadove and Frasch leave.

Sadove has served as chairman and CEO since 2007. He joined the retailer in 2002 as vice chairman and was named chief operating officer in 2004. In 2006, he became CEO. Frasch has been president and chief merchant since 2007. He joined Saks in 2004 in a non-executive role, and was named vice chairman and chief merchant later that year.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017


    September 2017


    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.