Montgomery Ward Appoints New CEO

Montgomery Ward & Co., the nation’s largest privately held retailer, named former Toys R Us Inc. executive Roger Goddu as its new chairman and chief executive. Goddu, 40, replaces Bernard F. Brennan, 58, who will remain chairman of Montgomery Ward Holding Corp. Goddu had been president of Toys R Us’ purchasing unit. Before that, he served as a senior executive at Target Stores, a discount chain owned by Dayton Hudson Corp. Brennan, who owns more than one-third of Montgomery Ward stock, has been credited with saving the Chicago-based retailer by pioneering the shops-within-a-store concept, which emphasizes specific departments. The idea has since been adopted by other retailers.