Veteran chain drug exec to enter department store arena
NEW YORK — CVS Health executive Helena Foulkes is joining department store retailer Hudson’s Bay Co. (HBC), operator of Lord & Taylor and Saks Fifth Avenue, as chief executive officer.
HBC said Monday that Foulkes is slated to begin in the new role on Feb. 19. At CVS, she currently serves as a corporate executive vice president as well as president of the CVS Pharmacy drug chain.
“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,” Foulkes said in a statement. “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.”
As HBC’s CEO, Foulkes will oversee the company’s global strategy and operations for all banners, including more than 66,000 associates worldwide across a portfolio of more than 480 stores, related e-commerce platforms, supply chain, logistics and technology.
Foulkes also will be appointed to HBC’s board of directors when she joins the company. 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,” Baker commented. “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.”