Oct 20 (Reuters) - Canadian retailer Hudson's Bay Co HBC.TO said on Friday Chief Executive Gerald Storch will step down, effective Nov. 1, to return to his advisory firm Storch Advisors.
The company, which owns the Saks Fifth Avenue and Lord & Taylor retail chains, has retained an executive search firm to recruit a new CEO. Baker, who previously served as the company's CEO, will reassume those duties in addition to his current role as executive chairman of the board, the company said.
Storch joined Hudson's Bay as CEO in January 2015.
In August Reuters reported that Hudson's Bay was planning to review its options, including going private, following pressure from an activist shareholder.