Good talent is hard to find.
Paul Beesley, the chief financial officer of the Hudson’s Bay Co., is staying with the company longer than had been planned. Last May, HBC said Beesley would resign on July 7 to return home to Canada to be closer to his family. But on Friday, the company said he will remain in his current role while HBC continues its cfo search. An executive search firm has had the assignment for some time.
Beesley moved to New York to join HBC as cfo in May 2014. HBC, which operates Saks Fifth Avenue, Hudson’s Bay, Lord & Taylor, Gilt, Saks Off5th and Galeria Kaufhof, is based in New York and Toronto.
Beesley has been a key player in HBC’s growth and acquisition and financing strategies. According to HBC, during Beesley’s tenure, the company formed two real estate joint ventures, expanded its revolving credit facilities to include operations across four countries, obtained a $1.25 billion 20-year fixed rate mortgage on its Saks Fifth Avenue flagship property, and helped the retailer lower financing costs and reduce interest rate risk.