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Hudson’s Bay taps new financial chief


Hudson’s Bay Company has named Paul V. Beesley as CFO, effective June 2014.

Beesley is a senior executive with extensive experience in financial management and strategic development across a range of leading Canadian-based companies. From 2000 to 2014, he served in a number of executive roles with Empire Company Limited, a corporation with annual sales in excess of $19 billion and operations in retailing and related real estate, including chief corporate development officer of the Sobeys unit and EVP and CFO of Empire. While at Empire, Beesley developed strategies resulting in the acquisitions of Canada Safeway and the remaining stake in Sobeys, led the creation of an Empire-related REIT, and facilitated numerous financing transactions.

Prior to Empire, Beesley was VP and CFO of The Globe and Mail Company, and previously held finance, operational and strategic planning positions with Delrina Corporation, Suncor Energy and Varity Corporation. Beesley is a Certified Public Accountant and began his career at Peat, Marwick & Mitchell in Toronto. A native of Canada, he has a BSc degree from Dalhousie University, Halifax, Nova Scotia; and an MBA from St. Mary’s University, Nova Scotia, Canada.

Beesley will report to HBC’s office of the chairman, which consists of Richard Baker, governor and CEO, and Donald Watros, president. Watros also has been serving as HBC’s interim CFO and will relinquish that role when Beesley joins the company.

“Paul Beesley is an accomplished professional who has contributed to the financial, strategic and operational progress of several leading corporations,” said Richard Baker. “His broad range of capabilities includes expertise in finance, capital markets and REITs. We are pleased to have Paul join HBC to help provide world-class fiscal leadership as we continue our development as a premier North American fashion retailer.”

“My new position with Hudson’s Bay Company affords the opportunity to join one of the most exciting companies in the retail sector. I look forward to working with the HBC team to deliver on the company’s strategic goals and to help drive its performance and shareholder value,” said Beesley.

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