Hudson's Bay Co. named CVS Health Corp. executive Helena Foulkes as its first female chief executive officer. Foulkes ranked number 12 on Fortune magazine's annual Most Powerful Women in Business list last year, and will take the helm on 19 February after serving as executive vice president of CVS Health and president of its pharmacy unit. Foulkes is highly respected as an executive and  has an extensive background in retail and health care marketing and strategy. She will be responsible for HBC's global strategy and operation, stores and online sales. That will include a portfolio of more than 480 stores and 66,000 associates worldwide. Foulkes, 53, will be in charge of the company's e-commerce platforms, supply chain, logistics and technology. Richard Baker will continue as Governor and Executive Chairman of HBC. Merchandising does not report to Foulkes since each banner has its own president who is responsible for the merchandise movement in their stores. According to Walter Loeb, the greatest challenge for the new CEO is that of effectively generating growth of each banner. This includes Hudson's Bay, Lord & Taylor, Saks 5th Ave., Gilt, Saks OFF 5th, Galeria Kaufhof and Galeria Inno. One must keep in mind that every country has their own fashion demands, and timing often is different. Canada may be a little more conservative, the U.S. has bolder and edgier fashions. Timing in Germany and Holland may be different for many classifications. Former CEO Jerry Storch, who joined Hudson's Bay in 2015, stepped down unexpectedly in October and returned to helm his advisory firm, Storch Advisors, amid challenged sales and activist pressure at the department store.

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