Johnston is HBC president
By Furniture Today Staff -- Furniture Today, September 10, 2007
Toronto — Robert Johnston, chief architect of the hostile takeover of Canada's Hudson's Bay Co. by U.S. investment fund manager Jerry Zucker, has been named president of the troubled retailer.
He succeeds Michael Rousseau, HBC's president for the past five years. The company did not say if Rousseau would remain an employee.
Johnston, formerly vice president of Zucker's InterTech Group, based in South Carolina, has a financial background. While Zucker has boosted profits by finding efficiencies within The Bay, Zellers and Home Outfitters — HBC's three largest banners — analysts say fewer customers are shopping at the stores than before he bought the company almost two years ago.
