TMCnet News

TOYS R US INC FILES (8-K) Disclosing Change in Directors or Principal Officers
[April 23, 2014]

TOYS R US INC FILES (8-K) Disclosing Change in Directors or Principal Officers


(Edgar Glimpses Via Acquire Media NewsEdge) ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS On April 23, 2014, Toys "R" Us, Inc. (the "Company") announced that Michael M.



Calbert resigned as a member of the Board of Directors of the Company (the "Board"). The resignation of Mr. Calbert did not involve any disagreement with the Company.

Also, on April 23, 2014, the Board appointed Wayne C. Sales to the Board, effective as of April 23, 2014. Mr. Sales, age 64, has been a director of SUPERVALU INC. ("SUPERVALU"), a grocery retailer and distributor, since 2006 and was Non-Executive Chairman of the Board from 2010 to 2012. He served as Executive Chairman of the Board, Chief Executive Officer and President of SUPERVALU from July 2012 to February 2013. He is the retired Vice Chairman of Canadian Tire Corporation Limited, Canada's most-shopped general merchandise retailer and the country's largest independent gasoline retailer, which he led as Chief Executive Officer and President from 2000 to 2006. Mr. Sales is a director and chair of the Compensation Committee of Tim Hortons Inc., the fourth-largest publicly traded quick service restaurant chain in North America based on market capitalization. He retired from his other board positions with Georgia Gulf Corp, a leading integrated North American manufacturer of chemicals and vinyl-based building and home improvement products, and Discovery Air Inc., a specialty aviation company, when he became President and Chief Executive Officer of the SUPERVALU in 2012.


As consideration for his service on the Board, Mr. Sales will be paid an annual retainer of $150,000 (pro-rated for 2014) and will also receive an annual grant of $150,000 of restricted stock units, which will fully vest one year after the grant date. The restricted stock units will be granted pursuant to the Toys "R" Us, Inc. 2010 Incentive Plan.

2 --------------------------------------------------------------------------------

[ Back To TMCnet.com's Homepage ]