The Bay names new president after Iain Nairn announces retirement

The Bay’s president and CEO Iain Nairn has announced he will be retiring from the company in January 2023.

In his place, the retail group has already named Sophia Hwang-Judiesch as the new president of both The Bay and its subsidiary Hudson’s Bay, overseeing the store and digital businesses.

Hwang-Judiesch was initially appointed president of Hudson’s Bay in September 2022, and has already been credited with leading the company’s store organisation and digital selling transformation.

Nair’s retirement comes after a 46-year career in retailing, including his time at The Bay, where he oversaw the digital transformation of the business, including the launch of its Marketplace.

Speaking on the shift, Richard Baker, governor and executive chairman of HBC, said in a release: "We thank Iain for his tremendous contributions to The Bay as we continue to deliver exciting and relevant experiences for the Canadian customer.

“As Sophia takes the reins, I'm confident her strategic and operational leadership will help drive performance, grow market share and elevate the customer journey even further."