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Richard A. Baker (businessman)

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Richard A. Baker
Born
Richard Alan Baker

(1965-11-27) November 27, 1965 (age 58)
CitizenshipUnited States
EducationCornell University (B.A.)
OccupationBusiness executive
Known forGovernor and Executive Chairman of Hudson's Bay Company
SpouseLisa Marie Burrell
Children3
Parent(s)Robert C. Baker
Betty Lou Grossman

Richard Alan Baker (born November 27, 1965)[1] is an American business executive. He is the chief executive officer of NRDC Equity Partners, and the Governor and Executive Chairman[2] of the Hudson's Bay Company. The corporation, controlled by NRDC, operates Saks Fifth Avenue and Saks Fifth Avenue OFF 5TH in the United States, and Hudson's Bay in Canada.[3]

Early life and education

Baker grew up in a Jewish family[4] in Greenwich, Connecticut, the son of Betty Lou (née Grossman)[5][6] and Robert C. Baker, the founder of NRDC Equity Partners, a private owner of shopping centers in the United States.[7] He has one sister, Lauren.[8] He graduated from the Brunswick School and then received his undergraduate degree from Cornell University, where he was a member of the Phi Sigma Kappa fraternity.[7]

Career

He began his career working for his father, a mall developer and principal of National Realty & Development Corp, after graduating from the Cornell University School of Hotel Administration.[7] In 2006, he purchased Lord & Taylor, America's longest continually operating luxury department store from Federated Department Stores, borrowing to finance nearly all of the deal. He has served as Chairman of Lord & Taylor since 2006.

In 2008, he bought the Hudson's Bay Company, North America's oldest company (established by English royal charter in 1670), becoming its Governor (company chairman). On November 1, 2017, he took over as interim CEO of the company when Jerry Storch's resignation became effective.[9] Hudson's Bay Company had gone public in November 2012 and was then listed on the Toronto Stock Exchange.[7]

Baker is the non-executive chairman of the Retail Opportunity Investments Corporation, a real estate investment trust listed on the NASDAQ Stock Exchange that focuses on retail properties located on the east and west coasts of the United States.[10]

He sits on the Advisory Board of the Cornell University School of Hotel Management.[11] He is the namesake benefactor and sits on the Advisory Board of the Baker Program in Real Estate - a two-year graduate program in real estate at Cornell University.[12]

Personal life

He is married to Lisa Marie Burrell.[13] They have three children.[11]

References

  1. ^ Globe and Mail: "Richard Baker: A balancing act in choppy retail waters" by Marina Strauss March 9, 2012
  2. ^ "Hudson's Bay Company Appoints Gerald L. Storch Chief Executive Officer - Business Wire".
  3. ^ Hudson's Bay Company About Us: "Richard Baker" retrieved September 13, 2014
  4. ^ Jerusalem Post: "Grapevine: The Netanya connection" by GREER FAY CASHMAN December 19, 2013
  5. ^ New York Times: "Loomis J. Grossman, Developer, Dies at 85", nytimes.com, March 8, 1989.
  6. ^ New York Times: "Paid Notice: Deaths GORDON, BETTY LOU BAKER, nytimes.com, July 6, 1998.
  7. ^ a b c d STEPHANIE CLIFFORD and PETER LATTMAN New York Times: "The Prince of Lord & Taylor", May 7, 2011.
  8. ^ New York Times: "Lauren Stella Baker Weds Robert Richman, a Writer", nytimes.com, June 15, 1986
  9. ^ Hirsch, Lauren (2017-11-01). "Saks Fifth Avenue owner continues to face pressure, amid a bid for its European department store". CNBC. Retrieved 2020-07-01.
  10. ^ "ROIC Company Profile & Executives - Retail Opportunity Investment Corp. - Wall Street Journal".
  11. ^ a b Cornell University School of Hotel Administration: "Richard A. Baker '88 - Governor & CEO Hudson's Bay Company; retrieved September 13, 2014
  12. ^ "Cornell Baker Program in Real Estate".
  13. ^ New York Times: "ENGAGEMENTS; Lisa M. Burrell, Richard A. Baker July 18, 1993
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