SYDNEY: Toys“R”Us ANZ Limited (ASX:TOY) has announced the immediate resignation of its CEO, Ms. Penny Cox. The company’s Board of Directors acknowledged Ms. Cox’s contributions since she joined in 2023 and extended their best wishes for her future endeavors.
In response to the sudden leadership change, the Board has initiated a search for a new CEO to continue driving the company’s House of Brands Strategy. In the interim, Kelly Humphreys, the current Chair of the Board, will take on the role of Executive Chair. Additionally, Ms. Teresa Smith has been appointed as Executive Director. Both will retain their positions until a new CEO is appointed.
The terms of these interim appointments have been disclosed in accordance with ASX Listing Rule 3.16.4. Ms. Humphreys will receive a fixed remuneration of $195,000 per annum, inclusive of Director’s fees, while Ms. Smith will receive $165,000 per annum under the same terms. Neither will be eligible for variable remuneration, and their roles will not include notice periods, termination payments, or post-employment restraints.
Toys“R”Us ANZ Limited, formerly known as Funtastic Limited, operates a House of Brands strategy through its Australian e-commerce platforms, including TOYS”R”US, BABIES”R”US, RIOT ART AND CRAFT, and HOBBY WAREHOUSE. The company is committed to its vision of “A lifetime journey with every child.”