Hudson’s Bay Chairman Baker to take over as CEO: source

(Reuters) – Saks Fifth Avenue owner Hudson’s Bay Co Executive Chairman Richard Baker will take over as chief executive officer, a source familiar with the matter told Reuters on Tuesday.

Current CEO Helena Foulkes, who has been at the helm since 2018, will step down, the source added.

The move comes just days after the company won shareholders’ approval to take the Canadian department store operator private by Baker.

The company declined to comment.

(Reporting by Melissa Fares in New York and Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)