Hudson's Bay CFO Paul Beesley to part ways in July
Hudson’s Bay Company on Tuesday announced the departure of CFO Paul Beesley, who has served three years in this role.
Beesley is parting ways with the company in order to return home to Canada to be closer to his family. The CFO will remain with the company to ensure a smooth transition until his last day on July 7, 2017.
The Dalhousie University, Halifax, Nova Scotia graduate moved to New York City to join the company as CFO in May 2014. During his tenure, HBC formed two real estate joint ventures with partners in the US and Canada, expanded its revolving credit facilities to include operations across four countries, and obtained a $1.25 billion 20-year fixed rate mortgage on its Saks flagship property, among other cost cutting measures.
“Paul has made many contributions to HBC during his tenure, including significantly strengthening the Company’s capital structure,” said Jerry Storch, CEO of HBC. “In addition, he was instrumental in the implementation of the Company’s growth and acquisition strategy. We thank Paul for his contributions and wish him much happiness and success in his next endeavour.”
Prior to joining Hudson’s Bay, Beesley served as CFO at Empire Company Limited and The Globe and Mail, and he held finance roles at Delrina Corporation, Suncor Energy and Varity Corporation. He began his career at Peat, Marwick & Mitchell in Toronto.
Hudson’s Bay Company has engaged an executive search firm to assist in recruiting a new CFO.
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