Head of U.S. Division of Toys R Us Resigns

Toys R Us Inc. said U.S. division President Gregory Staley resigned from the second-largest U.S. toy retailer for personal reasons.

Staley, 55, joined the company in 1989, Toys R Us said. He helped redesign the Paramus, N.J.-based toy chain’s stores and was president of the international division from 1995 to 2000.

The U.S. toy store division will report directly to Chief Executive John Eyler until Staley’s successor is named, the retailer said. A search is underway.

Toys R Us cut its profit forecast this month for the year ending Feb. 1 after price cuts and an ad campaign featuring mascot Geoffrey the Giraffe failed to improve holiday sales.