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- Toys’R’Us ANZ (TOY) appoints Penny Cox as its newest Chief Executive Officer
- The company reported Ms Cox has a strong proven capability and background in scaling eCommerce businesses
- In the past, Ms Cox served as the Vice President of Commercial and Marketing at Redmart, guiding the company’s revenue from $14 million to $285 million across four years
- The appointment is one of the key steps in the company’s seven-step strategic plan announced at the end of March
- TOY closed 18.2 per cent higher, trading at 1.3 cents at market close
Toys’R’Us ANZ (TOY) has appointed Penny Cox as its newest Chief Executive Officer.
The company reported Ms Cox has a strong proven capability and background in scaling eCommerce businesses.
In the past, Ms Cox served as Vice President of Commercial and Marketing at Redmart, where she guided the company’s revenue from $14 million to $285 million across four years.
The company reported her appointment was one of the key steps in its seven-step strategic plan announced at the end of March.
The plan aims to reduce costs, releasing $1 million of secured working capital and investing in Australian and United Kingdom retail eCommerce leadership.
This comes after Toys’R’Us doubled its half-yearly losses to $9.1 million at the start of the 2023 financial year.
Toys’R’Us announced Ms Cox would officially begin in her new role on August 7 but will be involved in key company projects from June 19.
TOY closed 18.2 per cent higher, trading at 1.3 cents at market close.
