No reason was given as yet for the summary firing of Chief Financial Officer F. Clay Creasey Jr after serving in the role since 2006. Replacing him will be Michael J. Short, former executive at AutoNation.
Toys ‘R’Us will pay Mr. Short $700,000 as his annual base salary. He will also be able to receive up to the same amount in yearly bonuses. In addition the company will offer Mr. Short stock options.
Mr. Short was the CFO for seven years at AutoNation. He also had financial roles at Universal Orlando, Seagram & Sons, and IBM Corp previous to his stint at AutoNation.
“We are delighted to have Mike join the organization during this transformational time for our company and look forward to the benefit of his strong financial and strategic experience, as well as his unique insights and fresh perspective on the business,” said Toys ‘R’ Us Chairman and Chief Executive Antonio Urcelay.