HUDSON’S BAY COMPANY NAMES HELENA FOULKES AS CEO

Hudson’s Bay Company (HBC) has announced that its Board of Directors has appointed Helena Foulkes as chief executive officer, effective February 19. Foulkes joins HBC from CVS Health, where she served as executive vice president of CVS Health and president of CVS Pharmacy.

Foulkes will be responsible for HBC’s global strategy and operations for all banners, overseeing more than 66,000 associates worldwide across a portfolio of more than 480 stores, related e-commerce platforms, supply chain, logistics, and technology. Upon joining HBC, she will also be appointed to HBC’s Board of Directors. Richard Baker, who has been acting interim CEO, will continue as governor and executive chairman of HBC.

“Helena is a transformational leader who will invigorate the business with a new perspective as we position HBC for the future,” said Baker. “Throughout her 25-year tenure in retail, she has a proven track record of making bold, strategic choices that, at their core, put the customer first and have proven enormously impactful to business success. The Board and I are thrilled to have Helena take the helm and bring her invaluable experience to the company.”

Foulkes added, “HBC has an amazing portfolio of retail banners, valuable real estate and an innovative approach to M&A that give it the ability to win. The future of retail will be defined by companies that think creatively about where the consumer and the world are headed. I look forward to working with this great team and listening deeply to them and to our partners to build upon strategies that capitalize on HBC’s physical and digital assets and deepen our core operating effectiveness. I am honored to join this iconic company.”

Named one of Fortune‘s “Most Powerful Women in Business”, Foulkes has been lauded as a force for change and innovation. Her appointment concludes a thorough search and recruitment process by the Board.