HBC Announces Return of Chief Financial Officer
19 Dezember 2019 - 10:00PM
Business Wire
Hudson's Bay Company’s (TSX:HBC) Chief Financial Officer, Ed
Record, will return from medical leave and resume his duties,
effective December 20, 2019. With his return, Becky Roof, a
Managing Director with AlixPartners LLC, will step down as Interim
CFO.
The company appreciates Ms. Roof’s leadership and contributions
in Mr. Record’s absence.
Mr. Record joined HBC as Chief Financial Officer in August 2017
and has been focused on streamlining the company and improving the
company’s balance sheet.
About HBC
HBC is a diversified retailer focused on driving the performance
of high-quality stores and their omni-channel platforms and
unlocking the value of real estate holdings. Founded in 1670, HBC
is the oldest company in North America. HBC’s portfolio today
includes formats ranging from luxury to premium department stores
to off price fashion shopping destinations, with nearly 250 stores
and approximately 30,000 employees around the world. HBC’s leading
businesses across North America include Saks Fifth Avenue, Hudson’s
Bay, and Saks OFF 5TH. HBC also has significant investments in real
estate joint ventures. It has partnered with Simon Property Group
Inc. in the HBS Joint Venture, which owns properties in the United
States. In Canada, it has partnered with RioCan Real Estate
Investment Trust in the RioCan-HBC Joint Venture.
Forward-Looking Statements
Certain statements made in this news release are forward-looking
statements within the meaning of applicable securities laws,
including, but not limited to, statements with respect to the
timing of CFO transition and other statements that are not material
facts. Often but not always, forward-looking statements can be
identified by the use of forward-looking terminology such as “may”,
“will”, “expect”, “believe”, “estimate”, “plan”, “could”, “should”,
“would”, “outlook”, “forecast”, “anticipate”, “foresee”, “continue”
or the negative of these terms or variations of them or similar
terminology.
Although HBC believes that the forward-looking statements in
this news release are based on information and assumptions that are
current, reasonable and complete, these statements are by their
nature subject to a number of factors that could cause actual
results to differ materially from management’s expectations and
plans as set forth in such forward-looking statements, including,
without limitation, the following factors, many of which are beyond
HBC’s control and the effects of which can be difficult to predict:
(a) risks related to tax matters; (b) the possibility of adverse
reactions or changes in business relationships resulting from the
announcement or completion of the transaction; (c) risks relating
to HBC’s ability to retain and attract key personnel during the
interim period; (d) the possibility of litigation relating to the
matter; (e) credit, market, currency, operational, real estate,
liquidity and funding risks generally and relating specifically to
the transaction, including changes in economic conditions, interest
rates or tax rates; (f) risks and uncertainties relating to
information management, technology, supply chain, product safety,
changes in law, competition, seasonality, commodity price and
business; and (g) other risks inherent to the Company’s business
and/or factors beyond its control which could have a material
adverse effect on the Company or the ability to consummate the
transaction. HBC cautions that the foregoing list of important
factors and assumptions is not exhaustive and other factors could
also adversely affect its results. For more information on the
risks, uncertainties and assumptions that could cause HBC’s actual
results to differ from current expectations, please refer to the
“Risk Factors” sections of HBC’s Annual Information Form dated May
3, 2019, as well as HBC’s other public filings, available at
www.sedar.com and at www.hbc.com. The forward-looking statements
contained in this news release describe HBC’s expectations at the
date of this news release and, accordingly, are subject to change
after such date. Except as may be required by applicable Canadian
securities laws, HBC does not undertake any obligation to update or
revise any forward-looking statements contained in this news
release, whether as a result of new information, future events or
otherwise. Readers are cautioned not to place undue reliance on
these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20191219005467/en/
Investor Relations: Jennifer Bewley 646-802-4631
jennifer.bewley@hbc.com
Media: Andrew Blecher 646-802-4030 press@hbc.com