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Fortune

Phil Wahba

CEO leading Saks Global through bankruptcy has a management philosophy of 'leading with love'

Saks Global Saks Fortune Van Raemdonck Luxury Neiman

(Credit: Noam Galai/Getty Images for Parsons School of Design)

In today’s CEO Daily: Fortune leadership reporter Phil Wahba on the new CEO leading Saks Global through bankruptcy.
The big story: Trump dials back Iran rhetoric.
The markets: U.S. futures are up, as are markets in Europe.
Plus: All the news and watercooler chat from Fortune.

Good morning. The C-suite drama at Saks Global was one of our most popular stories with subscribers last week—and it’s no wonder why. It had risky dealmaking, a failing real estate scion, and luxury chains flailing even though consumers are spending like never before. Now there’s a new twist—Saks Global has filed for Chapter 11 bankruptcy protection and luxury executive Geoffroy van Raemdonck will have the job of turning around the luxury retail group.

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