In a top-level departure at Hudson’s Bay Co., Michael Culhane, the chief financial officer, is taking what the company described as a personal leave of absence. Donald Watros, the chief operating officer who steps up to the role of president on Feb. 1, has assumed the additional responsibilities of acting chief financial officer.
This story first appeared in the January 24, 2014 issue of WWD. Subscribe Today.
HBC gave no further details on why Culhane left the company.
Other executive departures are expected at the Saks Fifth Avenue division of HBC.
Culhane was the cfo of HBC since February 2009. He was responsible for several functions including financial planning, accounting, treasury, income taxes, audit and legal. Earlier, he was the cfo and executive vice president of Lord & Taylor, which is also a division of HBC. Earlier, he was with May Department Stores Co.