Hudson's Bay CFO takes leave of absence

Hudson's Bay Company’s CFO Michael Culhane is reportedly taking a leave of absence from the company. Assuming the CFO role will be Donald Watros, who on Feb. 1 will be stepping into his new role as president of the company.

HBC did not provide further details on Culhane or the CFO spot.

Culhane has been CFO of Hudson's Bay Company since Feb. 2009. He is responsible for financial planning, profit improvement, accounting, treasury, income taxes, audit, legal and credit/loyalty marketing. He also served as CFO and EVP of Lord & Taylor from 2004 to 2009 and held other executive financial positions with the May Department Stores Company from 1997 to 2004.

The company has been restructuring its leadership so it can focus on managing and growing HBC’s presence in North America, as well as its expanding portfolio of brands.