Hudson’s Bay chooses American pharmacy chain head as new CEO

TORONTO — A former executive with United State’s CVS (Consumer Value Store) pharmacy chain will be the new boss of Hudson’s Bay Co., in Toronto.

Hudson’s Bay is Canada’s oldest company and owner of Saks Fifth Avenue and other retail operations.

Helena Foulkes will start in the role Feb. 19. She is a Harvardtrained lawyer, 55, currently in charge of about 9,600 stores.

Richard Baker has been acting as Hudson Bay’s interim chief since the departure of Jerry Storch last fall. Baker will continue as governor and executive chair.

“Helena is a transformational leader who will invigorate the business with a new perspective as we position HBC for the future,” Baker said in a statement.

Foulkes comes to HBC after 25 years at CVS Health Corp. Since January 2014, Foulkes was the company’s executive vice-president and president of subsidiary CVS Pharmacy.

At the department store chain, Foulkes will be responsible for HBC’s global strategy and operations. She will also be appointed to HBC’s board of directors.

“The future of retail will be defined by companies that think creatively about where the consumer and the world are headed,” Foulkes said in a statement.

Foulkes added that one of her priorities will be to “build upon strategies that capitalize HBC’s physical and digital assets and deepen our core operating effectiveness.”