Saks’ CEO Baker to Exit Luxury Retailer Ahead of Bankruptcy

Saks’ CEO Baker to Exit Luxury Retailer Ahead of Bankruptcy

Bloomberg.com general

Key Points:

  • Richard Baker, CEO and executive chairman of Saks Global Enterprises, is departing the luxury conglomerate he founded.
  • The company is preparing to restructure under bankruptcy court protection amid financial difficulties.
  • Baker's exit has been in the final stages over the past few days, according to anonymous sources.