Saks parent taps health world for CEO
Feb. 6, 2018 at 12:16 a.m.
NEW YORK — The company that owns department store chains Saks Fifth Avenue and Lord & Taylor is tapping the world of health care for its next CEO.
Canada-based Hudson's Bay Co., which also operates stores under its own name, has appointed Helena Foulkes as chief executive, effective Feb. 19. Foulkes was most recently executive vice president at CVS Health and president of CVS Pharmacy, a position she held since 2014. Foulkes, who has been with CVS for more than 25 years, has been an architect of the chain's expansion in health care.
Foulkes succeeds Jerry Storch, who abruptly left Hudson's Bay on Nov. 1.
The appointment comes as Hudson's Bay, like other department store chains, is overhauling its business as shoppers shift more online or spend more of their disposable income on experiences.