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";s:4:"text";s:6491:"Click here to subscribe. Hudson’s Bay Company (HBC) has appointed Helena Foulkes as Chief Executive Officer, effective February 19, 2018. more than $10B (USD) Industry. The group of shareholders, which includes HBC’s former CEO and now executive chairman Baker, controls 57 per cent of the company’s shares. The highest paid woman on the list was Linamar’s Linda Hasenfratz, who was paid $16.5 million. ), Michel Magnan, an accountancy professor at Concordia University who specializes in corporate governance, said a struggling company such as HBC with a high rate of executive turnover typically has to pay more to attract a new leader. “A high level of executive pay inequity, as in this case, can indicate serious long-term problems with a company’s compensation practices and more broadly its board-level management and oversight,” it says. The letter points to a statement made by Foulkes last year that pegged the value of the company’s real estate at $28 per share – well above the go-private offer of $9.45 per share. Sales fell to $2.9-billion from $3.1-billion. Additionally, Ms. Foulkes held positions in Strategic Planning, Visual Merchandising, and Category Management during her 20-plus years with CVS. (Mr. Baker got a more modest $1.8-million in the past year.). Toronto, ON M5H 2Y4 As the Independent Director of The Home Depot, the total compensation of Helena Foulkes at The Home Depot is $310,000. Helena Buonanno Foulkes serves as Independent Director of the Company. If the retailer had groomed someone from within to take the top job, it wouldn’t have cost so much, he said. © Copyright 2020 The Globe and Mail Inc. All rights reserved. You can change your choices at any time by visiting Your Privacy Controls. Foulkes’ compensation would make her the second-highest paid CEO in Canada based on 2017 data compiled in a report by the Canadian Centre for Policy Alternatives. The $29.4-million compensation package for Hudson’s Bay Co. chief executive officer Helena Foulkes is raising red flags among governance experts. Find out more about how we use your information in our Privacy Policy and Cookie Policy. 5 Bold Changes HBC CEO Helena Foulkes Has Made Since Taking the Helm. Of this total $0 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $0 came from other types of compensation. Helena B Foulkes is Former Chief Executive Officer at Hudson's Bay Co. See Helena B Foulkes's compensation, career history, education, & memberships. In our view, shareholders should be deeply concerned with the compensation committee’s sustained failure in this area.”. Roughly one-quarter of Hudson’s Bay Co. shareholders voted against a $29.4-million total compensation package for the struggling retailer’s top executive at an unusually secretive annual general meeting on Wednesday. As well, as she is a U.S. executive, HBC had to compare her pay with peers south of the border, where executives generally make more money. But those critical same-store sales fell 2.1 per cent at Saks OFF 5th and declined 1.4 per cent at HBC over all. Hudson's Bay CEO Helena Foulkes on the way out as retailer prepares to go private . Its products include building materials, home improvement products, lawn and garden products, and decor products. The bonus consisted of a guarantee of more than $2.7-million and a $3-million sign-on bonus. Ms. Foulkes, a former president at U.S. drugstore giant CVS Health Corp.’s pharmacy division, was brought in to HBC in early 2018 to spearhead a turnaround. By Sheena Butler-Young. Helena Foulkes is the former president of CVS Pharmacy, the subsidiary of American retail and healthcare company CVS Health. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Should you Buy Enbridge (TSX:ENB) Stock for the 8.3% Dividend Yield? “They’re paying for an all-star essentially,” he said. Welcome to The Globe and Mail’s comment community. HBC barred media from its annual general meeting Wednesday and did not stream the proceedings via webcast, moves that signalled a departure from previous years, according to archived webcasts on its website. Helena has made over 14 trades of the The Home Depot stock since 2010, according to the Form 4 filled with the SEC. The circular says “a significant portion” of Ms. Foulkes’s share-based compensation – the single biggest portion of her pay – is “at risk.” It essentially depends on whether HBC’s stock performs well and whether she stays long enough to collect the money. (Her annual bonus starting this year is tied to HBC’s financial targets. Enter an executive or company name. It offers home improvement installation services,and tool and equipment rental. 1670. HBC approves $29.4 million pay for CEO Helena Foulkes, making her among highest paid in Canada Hudson’s Bay Co. shareholders approved a plan to … This information is according to proxy statements filed for the fiscal year. The oldest executive at The Home Depot, Inc. is Albert Carey, 68, who is the Independent Director. We aim to create a safe and valuable space for discussion and debate. Jackson, MS. 6 days ago. It says the CEO’s latest pay package was more than four times the average compensation received by other top HBC executives. The company said, Foulkes joins HBC from CVS Health, where she served as executive vice president of CVS Health and president of CVS Pharmacy. But if they get injured or they don’t do as well with your players, then you’re still stuck paying a big contract fee.”, He said HBC could have strengthened its governance by giving Ms. Foulkes other long-term performance incentive targets rather than just its stock price, such as sales, profit and e-commerce goals. Credit Associate 1. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. RBI says sales will be weak once again for the Canadian brand, as the pandemic disrupts morning routines. Please log in to listen to this story. “If I were an investor, I would certainly raise some questions about the compensation … I’m personally not that sure I would vote in favour.”. HBC said it granted Ms. Foulkes $6.4-million of the restricted share units because she lost out on getting that amount at CVS, her former employer, when she left. 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