Toys 'R' Us Loses GC After Less Than 1 Year, Amid Bankruptcy
[caption id="attachment_2864" align="aligncenter" width="620"]
Toys "R" Us store. Photo credit: Shutterstock.com. [/caption] Toys "R" Us’ general counsel of 10 months, Cornell Boggs, has departed the company. The announcement comes less than two months after the Wayne, New Jersey-based toy store chain filed for Chapter 11 bankruptcy protection.Boggs joined Toys "R" Us in February, replacing longtime GC David Schwartz who left to lead the legal department of Canadian-based retailer Hudson’s Bay Co. James Young, an in-house lawyer with Toys "R" Us since 2007, has been promoted to replace Boggs, effective immediately. Young will assume leadership for the legal department of close to 15 in-house attorneys and paralegals, the company said in a press release, adding, “Mr. Young has also played a key role in Toys "R" Us refinancing efforts, and more recently, its restructuring activities.”Neither Boggs, nor a Toys "R" Us spokesperson, immediately responded to request for comment."This is a critical time for the company, not only because we are entering the ever-important holiday season, but as we navigate and eventually emerge from the restructuring process," said company chairman and CEO Dave Brandon, in a press release. "In addition to demonstrating tremendous legal acumen, Jamie has proven himself to be a passionate, positive leader who has earned the confidence of our senior most leaders, legal advisers and business partners. I could not be more thrilled to have him join my leadership team."Prior to Young’s tenure at Toys "R" Us, he worked in-house at Cytec Industries Inc. and as an associate with Reed Smith.
