Toys"R"Us Names CEO

The Toys"R"Us board has chosen interim Chief Executive Officer Antonio Urcelay as chief executive, but has paired him with a former Wal-Mart executive as the head of the Wayne, N.J.-based company's U.S. retail operations. The announcement this week follows an eight-month search that followed the resignation of former CEO Jerry Storch in February. Urcelay, who previously headed Toys’ global operations, was named interim CEO soon after Storch stepped aside, but has kept a relatively low profile in the interim position. Hank Mullany, a former executive vice president of Wal-Mart, U.S., was named president of Toys"R"Us, U.S., effective Nov. 5.