HBC's CFO Paul Beesley resigns

HBC said that it's chief financial officer, Paul Beesley, has decided to resign in early July in order to return home to Canada to be closer to his family. Beesley had moved to New York to join HBC as CFO in May 2014.

"Paul has made many contributions to HBC during his tenure, including significantly strengthening the company's capital structure," said Jerry Storch, CEO of HBC in a statement, adding, "In addition, he was instrumental in the implementation of the company's growth and acquisition strategy."

During his tenure, the company said, it formed two real estate joint ventures with leading partners in the US and Canada, expanded its revolving credit facilities to include operations across four countries, obtained a 1.25 billion dollars, 20 year fixed rate mortgage on its Saks flagship property, and undertaken various other transactions to lower financing costs and reduce interest rate risk.

"I've had a very rewarding experience at HBC, and am proud of the work we have undertaken to position the company for the future. HBC is a best-in-class retailer, and I will continue to follow the company closely after my departure,” added Beesley.

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