The Group CEO and MD of Toys ‘R’ Us – Louis Mittoni – has resigned but will continue to assist the company during the coming six months as it seeks a replacement.

Mittoni is the largest shareholder in the ASX-listed company and will remain on the board as an executive director while serving out his notice period. In a stock-exchange filing, the company said Mittoni will focus on key international projects in the ANZ and UK-licensed territories.

He will also focus on the brand’s migration from its present e-commerce platform to a new website ahead of this year’s holiday season while supporting the company’s rollout of the store-in-store trial with WH Smith in the UK.

“The board thanks Louis for his drive, energy and vision as group CEO over the past two and a half years leading the company,” the company said.

While the search process has been accelerated, chair Kevin Moore will combine the roles of CEO and non-exec chair as executive chair until a new group CEO is appointed.

The company said it has shortlisted candidates for a new MD for the Australian and New Zealand businesses, with further interviews scheduled later this month.

• Further reading: Toys ‘R’ Us culls $4 million in costs as it pursues strategic plan