Hudson's Bay CEO Zucker dies at age 58
By Michael J. Knell -- Furniture Today, April 20, 2008
Charleston, S.C. — Jerry Zucker, who has headed iconic Canadian retailer Hudson's Bay Co. since his InterTech Group acquired it two years ago, has died from cancer. He was 58.
His wife, Anita Zucker, has become the first woman to be named governor of the Hudson's Bay Co. by the company's board of directors.
Robert Johnston, who has been HBC's deputy governor and president, was named to replace Jerry Zucker as CEO. No other executive changes were made.
"While we grieve this tragic loss, the Zucker family is committed to the continued success and growth of Hudson's Bay Co. and its related entities," Anita Zucker said in a written statement.
Johnston, the Montreal native who helped orchestra Zucker's takeover of HBC two years ago, was named president and deputy governor in August after serving as executive vice president.
Founded 338 years ago, Hudson's Bay Co. is one of the world's oldest continuing businesses. It operates three retail banners: The Bay, a traditional department store; Zeller's, a discount department store; and Home Outfitters, a decorative accessories and soft home goods specialist.
All three banners sell furniture, while The Bay and Zeller's also offer bedding, major appliances and consumer electronics.
Canada's financial press is reporting that analysts expect no changes at HBC over the short term, but wouldn't be surprised if the company is put up for sale in the coming months.
Jerry Zucker was founder and CEO of the InterTech Group, a global conglomerate with estimated annual sales of $3 billion and interests in sectors including textiles, chemicals and manufacturing. InterTech acquired HBC in 2006 for about $1.1 billion.
A resident of Charleston, Zucker and his wife are well known for a number of philanthropic and community endeavors.
In addition to his wife, Zucker is survived by three children and two grandchildren.
Memorials may be made to the Jerry Zucker Endowment Fund of the Jewish Endowment Fund at the Coastal Community Foundation, 90 Mary St., Charleston, S.C. 29403, or to the Coastal Carolina Council of the Boy Scouts of America, 1025 Sam Rittenberg Blvd., Charleston, S.C. 29407.
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Hudson’s Bay owner Jerry Zucker dies
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