TOYS“R”US, INC. NAMES CHETAN BHANDARI SENIOR VICE PRESIDENT, CORPORATE FINANCE AND TREASURER
WAYNE, NJ –(August 6, 2014) – Toys“R”Us, Inc. has named Chetan Bhandari Senior Vice President, Corporate Finance and Treasurer. In this capacity, Mr. Bhandari will be responsible for managing relationships with domestic and international lenders, depository banks, credit insurers and credit rating agencies, as well as overseeing the company’s global cash management, foreign exchange programs and capital markets activities. An experienced finance executive with broad retail and consumer goods experience, he was most recently Managing Director at GLC Advisors & Co., LLC. Mr. Bhandari will report to Mike Short, Executive Vice President and Chief Financial Officer, Toys“R”Us, Inc.
Mr. Short said, “It is our pleasure to welcome Chetan to the organization as a key member of our Finance team. We look forward to the benefit of his strong background in corporate finance and well-established relationships in the financial community, as we continue to execute our ‘TRU Transformation’ strategy to position the business for long-term profitable growth.”
In his role at GLC Advisors & Co., LLC, Mr. Bhandari primarily focused on restructuring advisory assignments and building the firm’s M&A, financial sponsor and private placement business. Prior to this, he served as a Managing Director in Investment Banking at Goldman, Sachs & Co., responsible for the Consumer/Retail group’s leveraged finance business across the Americas.
Earlier in his career, Mr. Bhandari served as a Managing Director in the Restructuring Group with UBS Securities LLC and a Vice President in the Investment Banking division with Donaldson, Lufkin & Jenrette Securities Corporation. Previously, Mr. Bhandari was a founding member of Merrill Lynch & Co.’s European leveraged finance business. He received a bachelor’s degree in economics and international relations from Brown University and a Master of Business Administration from Harvard Business School.
About Toys“R”Us, Inc.
Toys“R”Us, Inc. is the world’s leading dedicated toy and baby products retailer, offering a differentiated shopping experience through its family of brands. Merchandise is sold in 878 Toys“R”Us and Babies“R”Us stores in the United States and Puerto Rico, and in more than 710 international stores and over 190 licensed stores in 35 countries and jurisdictions. In addition, it exclusively operates the legendary FAO Schwarz brand and sells extraordinary toys in the brand’s flagship store on Fifth Avenue in New York City. With its strong portfolio of e-commerce sites including Toysrus.com, Babiesrus.com, eToys.com and FAO.com, it provides shoppers with a broad online selection of distinctive toy and baby products. Headquartered in Wayne, NJ, Toys“R”Us, Inc. employs approximately 70,000 associates annually worldwide. The company is committed to serving its communities as a caring and reputable neighbor through programs dedicated to keeping kids safe and helping them in times of need. Additional information about Toys“R”Us, Inc. can be found on Toysrusinc.com. Follow Toys“R”Us, Babies“R”Us and FAO Schwarz on Facebook at Facebook.com/Toysrus, Facebook.com/Babiesrus and Facebook.com/FAO and on Twitter at Twitter.com/Toysrus and Twitter.com/Babiesrus.
This press release contains “forward looking” statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. All statements herein that are not historical facts, including statements about our beliefs or expectations, are forward-looking statements. These statements are subject to risks, uncertainties, and other factors, including, among others, risks, uncertainties and factors set forth in our reports and documents filed with the United States Securities and Exchange Commission (which reports and documents should be read in conjunction with this press release). We believe that all forward-looking statements are based on reasonable assumptions when made; however, we caution that it is impossible to predict actual results or outcomes or the effects of risks, uncertainties or other factors on anticipated results or outcomes and that, accordingly, one should not place undue reliance on these statements. Forward-looking statements speak only as of the date they were made, and we undertake no obligation to update these statements in light of subsequent events or developments. Actual results and outcomes may differ materially from anticipated results or outcomes discussed in any forward-looking statement.
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