Breaking News: TRU Names Urcelay CEO and Mullany President

Toys “R” Us, Inc., (TRU) just announced that it has named two seasoned executives to lead the global franchise and its domestic business. Antonio Urcelay has been named CEO, Toys “R” Us, Inc., effective immediately, after serving as the company’s interim CEO since May 2013. Hank Mullany, an experienced retail executive has been named president, Toys “R” Us, U.S., effective November 5.

In a joint statement, the TRU board of directors said, “When we started this search, we were looking for a leader with global experience, deep retail knowledge, proven capabilities, and outstanding leadership skills. As the search progressed, we found exactly the right combination of these attributes in Antonio and Hank. Antonio’s extensive knowledge of global markets makes him uniquely qualified to lead the organization as we expand rapidly in Asia and other parts of the world. He has impressed all of us with his vision and leadership of the team throughout the search process. Hank brings a fresh perspective to the business, which, in combination with his operational strengths, will help build on the significant progress that has been made in advancing the U.S. business. Together, we believe they will be a powerful team that shares an unwavering commitment and passion for serving our customers, reenergizing the business and further positioning the company for long-term growth.”

Urcelay, 61, joined TRU in 1996. Over the course of his tenure with the organization, he has held roles of increasing responsibility. Prior to joining TRU, Urcelay spent the majority of his career working in the retail and consumer packaged goods industries, including Spanish dairy company Leche Pascual, Dutch supermarket chain Royal Ahold, and the Spanish subsidiary of Procter & Gamble.

Mullany, 55, previously served as CEO of The ServiceMaster Company, one of the world’s largest residential and commercial service businesses, and prior to that, was executive vice-president of Walmart U.S. and president of Walmart’s northern business. He will report to Urcelay.