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Stephen Sadove Exiting Saks Inc.?

Sources said that an exit package has been drawn up, and an announcement of his departure could be imminent.

SADOVE'S FUTURE: Stephen Sadove, chairman and chief executive officer of Saks Inc., declined comment Thursday in growing speculation he will depart the department store retailer once Hudson's Bay Co. completes its purchase of the chain. Sources said that plans for an exit of Sadove are in the works, and an announcement of his departure could be imminent. Hudson's Bay is working on the completion of its deal to buy Saks for $2.9 billion.