HBC boss retiring

The CEO of Hudson’s Bay Company is retiring. Jeff Sherman, who oversaw a major restructuring at Canada’s oldest retailer after it was bought in August 2008 by New York-based NRDC Equity Partners, will be leaving the company on June 1. Rather than replace Sherman, company owner Richard Baker will fill the role of CEO from his New York office. Sherman’s tenure saw dramatic changes at the HBC. The company has cut more than 1,000 jobs and $400 million in expenses, and executed a wildly successful Olympic apparel campaign.

Toronto Star