Can Saks’ new CEO repair the damage done to the luxury retailer by years of being treated as a ‘financial plaything’?

For the second time in his career, luxury executive Geoffroy van Raemdonck has been tasked with fixing an iconic department store company brought low by financial engineering. In 2018, he was hired to fix Neiman Marcus Group, which was struggling to to keep up with shifting consumer trends and unprofitable under the weight of heavy debt from years of private equity ownership. This time, the job is twice as big. On Tuesday, Van Raemdonck was appointed CEO of Saks Global, the same day as the luxury departm ...