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Saks Global CEO Resigns Amid Financial Turmoil

1/9/2026

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Saks Global announced the resignation of Marc Metrick, chief executive officer of Saks Global, amid financial troubles including missed loan payments and potential bankruptcy.
Richard Baker, executive chairman of Saks Global, has taken over as CEO.
Saks Global, owner of Saks Fifth Avenue and Neiman Marcus, has struggled since the 2024 $2.7 billion acquisition, with a 13% revenue drop in last quarter.
Saks Global declined to comment on the situation.

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Story summary

Saks Global announced the resignation of Marc Metrick, chief executive officer of Saks Global, amid financial troubles including missed loan payments and potential bankruptcy.
Richard Baker, executive chairman of Saks Global, has taken over as CEO.
Saks Global, owner of Saks Fifth Avenue and Neiman Marcus, has struggled since the 2024 $2.7 billion acquisition, with a 13% revenue drop in last quarter.
Saks Global declined to comment on the situation.