Saks CEO Marc Metrick Steps Down Ahead of Expected Bankruptcy Filing

Saks Global’s chief executive is stepping down from the helm of the struggling luxury retailer ahead of an expected bankruptcy filing that could come within days.

Marc Metrick, who led Saks Fifth Avenue’s 2024 merger with Neiman Marcus, is stepping down after nearly three decades with the company, Saks said Friday. Executive Chairman Richard Baker has taken over as CEO and will work closely with the company’s management team “to advance Saks Global’s transformation,” it added.