HBC looks to new president to drive growth

Hudson’s Bay Company has named Donald Watros, currently the company’s COO, as president of HBC, a newly expanded role. The appointment is effective Feb. 1, 2014.



The move comes as the company restructures its leadership so it can focus on managing and growing HBC’s presence in North America, as well as its expanding portfolio of brands.



Watros will continue to report to Richard Baker, governor and CEO. Together, Baker and Watros will continue to constitute HBC’s office of the chairman. HBC’s retail division presidents, including Marigay McKee and Liz Rodbell, as well as all corporate executive VPs, including the COO, chief administrative officer and CFO, will report to both Baker and Watros. The company’s retail brands include Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Saks Off 5th and Home Outfitters.



“Don’s significant retail experience combined with his track record of operational excellence were key in selecting him for this important role and will further our development as a premier North American fashion retailer,” said Baker.



“I am privileged to have the opportunity to work with Richard and our exceptional team to drive the future growth and value of HBC and our individual banners,” Watros said. “As a veteran of both HBC and Saks, I will pay particular attention to integrating and delivering on the exciting promise of our merger, while also helping to support all our retail brands and shared services units and to guide the progress of the company overall.”



Watros was appointed COO of Hudson’s Bay Company in April 2009. Prior to that appointment, Watros worked at NRDC Equity Partners. He previously held various management positions at May Department Stores and served as chief administrative officer of Saks Fifth Avenue.



In other news, the company also announced that it will be joining the S&P/TSX Composite Index after the close of trading on Dec. 20.



The S&P/TSX Composite Index, managed and calculated by S&P Dow Jones Indices, is the headline index and principal broad market measure for the Canadian equity markets. HBC’s addition has been confirmed by S&P Dow Jones Canadian Index Services.