development deals or sourcing or purchasing arrangements,” Schwartz said.
“The key component of the job is certainly func-
tioning as the chief compliance officer for regulatory
matters, corporate governance and [Securities and
Exchange Commission] matters.”
Over the past three years, however, Schwartz’s
work has encompassed a lot more than routine
regulatory work. In addition to the lawsuit against
“They say [that] whatever doesn’t kill you makes you
stronger, and we’re definitely stronger now.”
CORPORATE RESPONSIBILITY
The company considers outside firms’ commitment
to pro bono and diversity hiring, Schwartz said, but
has not signed the Corporate Pro Bono Challenge
or the diversity Call to Action.
Schwartz serves on the board of the Toys “R” Us
two, Kill is designed to challenge young attorneys to
grow quickly and take lots of responsibility.”
Schwartz joined Toys “R” Us in 2001 and assumed
his current position in 2003. “At the end of the day
what we do is fun,” he said. “We are about family and
promoting family values and play and fun and safety.
At the end of the day, we make a profit by making chil-
dren happy and delivering experiences to families.”
At the end of the day, we profit by making children
happy and delivering experiences to families.”
Amazon, the company decided in 2004 to split its
Toys “R” Us and Babies “R” Us stores.
In 2005, it won a $27 million settlement against
MasterCard Inc. and Visa International over transaction fees. Schwartz also was busy taking the company
private, a deal announced in March 2005.
More legal work followed when a shareholder
lawsuit was filed regarding the buyout; two shareholders alleged that the company failed to maximize
shareholder value. The shareholders dismissed the
suit that July and the company went private that
month.
“Those are very significant, typically once-in-career-type transactions and challenges,” Schwartz said.
Children’s Fund, which supports the health and welfare of children. He is a trustee of the Hackensack
University Medical Center Foundation.
PERSONAL
Schwartz was born in Oceanside, N.Y., and lives in
North Caldwell, N.J., with his wife and two daughters.
“We have 586 stores across the United States. You
might say we have 587 if you add my basement,”
he said.
In addition to coaching his daughters’ soccer and
softball teams, Schwartz enjoys tennis and sailing.
A BOOK
Night Fall, by Nelson DeMille
ROUTE TO THE TOP
Schwartz earned a B.A. in economics from Duke
University in 1989, a J.D. from the University of Pennsylvania Law School in 1992 and an MBA from the
Columbia University Graduate School of Business in
1999.
From 1992 to 2001, he worked at Anderson, Kill &
Olick, which he said prepared him for his current job.
“One, the work was very broad, so I had exposure
to all aspects of the business world,” he said. “And
A MOVIE
The Departed. “I was proud of the fact that I
actually saw a movie that received all that national
acclaim the same year,” he said. “With two little kids,
that doesn’t happen often.”
—VESNA JAKSIC
An earlier version of this profile appeared in The
National Law Journal on March 19, 2007.
