DON WATROS RESIGNS AS PRESIDENT OF HBC INTERNATIONAL

Canada-based retailer HBC has announced Don Watros has made the decision to leave company, effective September 29.

An industry veteran, Watros has been with HBC for 11 years and has seen the company through major growth. He was appointed president of HBC International in January 2015. Previously, he served as president of HBC and before that as COO of the company. Prior this role, he was managing director of Retail Operations at NRDC Equity Partners during the acquisitions of Lord & Taylor and Hudson’s Bay Company. Watros has also served as the chairman of the Galeria Kaufhof Supervisory Board since October 2015. The Supervisory Board will elect a new chairman at its meeting in October.

“With a seasoned leadership team in place in Europe and our plans to bring Hudson’s Bay to the Netherlands and Saks Off 5TH to Europe coming to fruition, the time is right for me to pursue my next chapter,” said Watros. “I look forward to following the company’s continued growth.”

“Don has been a great partner in supporting the growth and integration of HBC’s businesses over the years and was instrumental in HBC entering Europe and helping to establish our structure there,” commented Richard Baker, governor and executive chairman of HBC. “We are grateful for his dedication to the Company and wish him the best in his next endeavor.”

“We greatly appreciate Don’s contributions to HBC during his long tenure with the Company, especially his work to bring HBC to Europe and support the establishment of our office there,” added Jerry Storch, CEO of HBC. “I’m pleased that we have a strong team in place to continue to execute on our strategy in Europe, as we invest in Galeria Kaufhof, grow Saks Off 5TH in Germany and enter the Netherlands with Hudson’s Bay and Saks Off 5TH.”