Hudson’s Bay Company names new CFO

It’s a homecoming of sorts for the new finance head of Hudson’s Bay Company.

The department store company has appointed Michael Culhane as CFO. He succeeds Ed Record who is stepping down as planned. Record will remain with HBC for the time being to ensure a smooth transition as Culhane is onboarded.

This is Culhane’s second stint as CFO of HBC, having served in the role from 2012 to 2014 after joining the company in 2009. Most recently, he served as CFO at Uline, a privately held shipping and industrial supplies distributor. Prior to that, he held the role of CFO for The Bon-Ton Stores and Fareportal Inc., an online travel agency. 

“With Michael’s extensive professional background and industry expertise, he will be vital to ensuring we maintain our financial discipline as we make investments for the long term,” said Richard Baker, governor, executive chairman and CEO. “I am pleased to welcome Michael back to HBC and am confident that he is the right leader to help drive performance as we work to evolve HBC and our operating companies for the future.”

HBC’s portfolio includes more than 250 stores, with banners that include Saks Fifth Avenue, Hudson’s Bay and Saks Off 5th.