CEO of Hudson’s Bay Co., Jeffrey Sherman, steps down
The Financial Post is reporting that HBC CEO Jeffrey Sherman is leaving the company; he was brought out of retirement to operate The Bay, Zellers and Home Outfitters in 2008. Sherman, who was responsible for luring luxury retail whiz Bonnie Brooks to The Bay, will return to retirement, saying his “personal mission is now complete.” There are no plans to replace him, which has led to speculation that the major changes at The Bay—staff layoffs, expense cuts, the opening of The Room, cutting underperforming brands—are now complete.
• Sherman steps down as CEO of The Bay [Financial Post]
• Shake-up done, Hudson’s Bay CEO retires [Toronto Star]