According to US news reports, Neil Friedman has stepped down as president of ToysRUs after only 10 months in the job.
Friedman was the second-highest-ranking executive at the retailer and is the latest in a series of recent shake-ups of the executive team by chairman and CEO Jerry Storch.
According to the official foling to the Securities & Exchange Commission, Friedman is leaving to become an adviser to toy companies. ToysRUs “intends to retain his advisory services, on a non-exclusive basis, for new ventures and business alliances,” the company said.
Friedman, the former president of Mattel Brands joined TRU in April as president and was responsible for = all merchandise planning and allocation, marketing and operations for the company’s 860 strong US stores. He also was assigned the tasks of overseeing global sourcing and product development for the company.
According to one report, a restructuring, last month saw Storch move some of Friedman’s merchandising and store operations duties to another executive who would report directly to Storch.
Friedman is the sixth top-level executive reporting to Storch who has left the company since Storch became CEO in 2006.