FAO Schwarz Chief to Quit

Citing personal reasons, Peter L. Harris, president and chief executive of FAO Schwarz, said he intends to resign his posts at the New York toy retailer.

Harris, 48, indicated that he plans to return to California with his family.

According to FAO Schwarz, Harris has agreed to remain with the company to provide a “smooth transition.” The company did not say when the resignation is expected to take effect.

FAO Schwarz, with 22 branches in the United States, is a unit of Dutch-based retailer Koninklijke Bijenkorf Beheer.