HBC Names Edward Record Chief Financial Officer
August 17 2017 - 5:00PM
Business Wire
HBC or the “Company” (TSX: HBC) today announced Edward Record
has been named Chief Financial Officer, effective August 28, 2017.
Mr. Record will report to Jerry Storch, CEO, HBC and serve as a
member of the Company’s Operating Committee.
“I’m thrilled to be joining HBC, one of the most diverse retail
operators with a global portfolio of leading banners, valuable real
estate and a history of unique transactions that unlock shareholder
value,” said Edward Record. “HBC’s leadership team and finance
organization are second to none and I look forward to joining them
to continue to execute the Company’s strategic plan while
positioning HBC for future success.”
“Ed’s deep retail experience will support our company’s mission
to get ahead and stay ahead of the rapidly changing retail
environment,” commented Jerry Storch, CEO, HBC. “He will play a key
role as we continue to drive performance and make the right
strategic decisions to improve our retail businesses, while also
evaluating the best use of our real estate assets.”
With more than 25 years of experience, Mr. Record has overseen
financial and operational performance for several large, national
retailers. He joins HBC after more than three years as Chief
Financial Officer for J. C. Penney Company, Inc. (“JCP”). During
his time with JCP, Record helped dramatically improve JCP’s capital
structure, reduce its debt leverage and significantly improve its
credit rating through multiple upgrades.
Prior to JCP, Record most recently served as Executive Vice
President, Chief Operating Officer of Stage Stores, and previously
as its Chief Financial Officer. While at Stage Stores, Record was
in charge of overseeing all of the store locations and operations,
IT, real estate, e-commerce, logistics, construction, legal and
risk management aspects of the business in addition to leading its
off price division. Record has also held executive leadership
positions in finance at Kohl’s and Belk. Record began his extensive
career in retail at Kaufmann’s, a division of The May Department
Store Company, holding various roles across the finance department,
ultimately working his way up to VP of Finance and Controller.
Record earned an AB in Economics from Princeton University in 1990
and an MSIA in Finance from Carnegie Mellon University in 1995.
Mr. Record succeeds Paul Beesley, who, as previously announced
is leaving HBC. Mr. Beesley has agreed to remain with the Company
for a period of time to ensure a smooth transition.
About HBCHBC is a
diversified global retailer focused on driving the performance of
high quality stores and their all-channel offerings, growing
through acquisitions, and unlocking the value of real estate
holdings. Founded in 1670, HBC is the oldest company in North
America. HBC's portfolio today includes formats ranging from luxury
to premium department stores to off price fashion shopping
destinations, with more than 480 stores and over 66,000 employees
around the world.
HBC's leading banners across North
America and Europe include Hudson's Bay, Lord
& Taylor, Saks Fifth Avenue, Gilt, Saks OFF
5TH, Galeria Kaufhof, the largest department store group
in Germany, and Belgium's only department store
group Galeria INNO.
HBC has significant investments in real estate joint ventures.
It has partnered with Simon Property Group Inc. in the HBS
Global Properties Joint Venture, which owns properties
in the United States and Germany. In Canada, it
has partnered with RioCan Real Estate Investment Trust in the
RioCan-HBC Joint Venture.
For more information, visit our website.
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HBCINVESTOR RELATIONS:Elliot Grundmanis,
646-802-2469elliot.grundmanis@hbc.comorMEDIA CONTACT:Andrew
Blecher, 646-802-4030andrew.blecher@hbc.com