Hudson's Bay Co. HBAYF

Another change in HBC senior management.

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HBC or the Company (TSX: HBC) today announced Don Watros has made the decision to leave HBC effective September 29, 2017. With a seasoned leadership team in place in Europe and our plans to bring Hudsons Bay to the Netherlands and Saks OFF 5TH to Europe coming to fruition, the time is right for me to pursue my next chapter, said Mr. Watros. I look forward to following the Companys continued growth. Don has been a great partner in supporting the growth and integration of HBCs businesses over the years and was instrumental in HBC entering Europe and helping to establish our structure there, said Richard Baker, Governor and Executive Chairman, HBC. We are grateful for his dedication to the Company and wish him the best in his next endeavor. We greatly appreciate Dons contributions to HBC during his long tenure with the Company, especially his work to bring HBC to Europe and support the establishment of our office there, said Jerry Storch, CEO, HBC. Im pleased that we have a strong team in place to continue to execute on our strategy in Europe, as we invest in Galeria Kaufhof, grow Saks OFF 5TH in Germany and enter the Netherlands with Hudsons Bay and Saks OFF 5TH. An industry veteran, Mr. Watros has been with HBC for 11 years and has seen the Company through major growth. He was appointed President, HBC International in January 2015. Previously, he served as President of HBC and before that as COO of the Company. Prior this role, he was Managing Director of Retail Operations at NRDC Equity Partners during the acquisitions of Lord & Taylor and Hudsons Bay Company. Mr. Watros has also served as the Chairman of the Galeria Kaufhof Supervisory Board since October 2015. The Supervisory Board will elect a new Chairman at its meeting in October.