HBC Names New President
CBJ — Hudson’s Bay Company has named Iain Nairn as its new president after a worldwide search. He takes over from Alison Coville, who stepped down from the position in February of last year.
Nairn has spent most of his career in Australia, most recently with a design and stationary business called kikki.K, where he was the chief executive. Prior to that he was CEO at David Jones, an Australian department store chain.
Nairn joins the company as HBC looks to complete a privatization deal. HBC has entered into a deal with a group led by executive chairman Richard Baker to take the company private for $11 per share. The amended offer is $1.55 higher than the group’s initial $9.45 per share bid. Nairn says whether the company is private or public won’t have any bearing on his strategy in leading the company on a day to day basis.