Richard Baker Exiting Saks Global as Bankruptcy Looms: Sources

Core Viewpoint - Saks Global is nearing bankruptcy, with a filing expected by midweek, prompting discussions about leadership during its restructuring process [1] Leadership Changes - Richard Baker, the executive chairman who recently became CEO, is expected to leave the company along with other key executives [2] - The search for a new CEO is ongoing, with former Neiman Marcus Group chief Geoffroy van Raemdonck being a potential candidate [3] Candidate Background - Van Raemdonck has experience navigating Neiman Marcus through bankruptcy and strengthening vendor relationships, which could benefit Saks Global [4] - He recently joined Verneek, an AI tech company, but has a strong understanding of the Neiman's business and key vendors [5] Broader Search for Leadership - Saks Global is exploring other potential leaders beyond Van Raemdonck, indicating a fluid situation in leadership [6] - Pentwater Capital Management, led by Matt Halbower, is involved in the financing package for Saks Global's bankruptcy, showing interest in the company's future direction [6]