Edward Record, a veteran of top retail financial positions, has joined the Hudson’s Bay Co. as chief financial officer, succeeding Paul Beesley, who previously announced his intention to leave the company.
Record will join HBC on Aug. 28 and he will report to chief executive officer Jerry Storch. He will also become a member of the company’s operating committee.
“Ed has more than 25 years of experience in retail,” Storch told WWD. “He has overseen every area of finance. He understands both the finances and the day-to-day operations of retail, including real estate. It’s impossible to be a retailer without deep real estate knowledge. Ed is great with Wall Street, has great analytic tools and will help drive the bottom and top lines of the business. The cfo is one of the most important leaders in the company.”
Record joins HBC after more than three years as cfo for J.C. Penney Co. Inc. where he was instrumental in improving the capital structure and credit ratings and reduce the debt leverage. Prior to J.C. Penney’s, Record served as executive vice president and chief operating officer of Stage Stores, and previously as its cfo. While at Stage, Record was in charge of overseeing all of the store locations and operations, IT, real estate, e-commerce, logistics, construction, legal and risk management aspects of the business in addition to leading its off-price division.
Record has also held executive leadership roles in finance at Kohl’s and Belk. He began his career in retail at the former Kaufmann’s chain.
HBC operates Hudson’s Bay, Saks Fifth Avenue, Lord & Taylor, Galeria Kaufhof, Galeria Inno, Gilt and Saks Off 5th.