Helena Foulkes

Helena Foulkes is the former Chief Executive Officer of Hudson's Bay Company.

Helena Foulkes
Born
Helena Grace Buonanno

1963/1964[1]
NationalityAmerican
Alma materHarvard University
OccupationChief Executive Officer, Hudson's Bay Company
Former President - CVS Health Pharmacy, CVS Health

Early life and education

The daughter of a lawyer, Helena Buonanno was born the eldest of five children. She earned her Bachelor of Arts from Harvard University, graduating magna cum laude; there she met her husband,[1] marrying him in 1989 in a Roman Catholic ceremony.[2] Larry Summers was her senior thesis adviser. She later earned her Master of Business Administration from the same institution.[1]

Career

After graduating from Harvard, Foulkes briefly worked at Goldman Sachs and Tiffany & Co before leaving to earn her MBA. She began working at CVS in 1992.[1] She rose up to become the company's executive vice president and chief marketing officer. She oversaw the launch of the ExtraCare card, a membership program offering savings to participants.[3] Foulkes also created the Pharmacy Advisor program, its purpose being to offer advice to customers with chronic conditions, either in stores or over the phone.[1]

In 2011, CVS made Foulkes its chief health care strategy and marketing officer, a new position created for her.[3] In July 2015, Fortune magazine reported that as part of her role, Foulkes oversaw 9,600 retail stores and 18 distribution centers.[4] She helped spur the decision to stop selling cigarettes and tobacco products, citing the need for CVS to better position itself as a healthcare company.[1][5] She oversaw the company's philanthropic endeavors, and developed digital strategies to help consumers learn how to fulfill their pharmaceutical needs.[3]

In 2015, Fortune magazine included her on its list of Most Powerful Women, citing Foulkes' role in the "$1.9 billion purchase of Target's prescription-filling business—a deal that will give CVS the most pharmacy locations in the U.S.—and launching upgraded beauty and healthy food sections in many of the stores".[6]

On February 5, 2018, Hudson's Bay Co., owner of Saks Fifth Avenue, named Foulkes as its new CEO, saying it would be effective on February 19.[7][8][9] In her first six weeks as CEO, Foulkes was challenged with refashioning the company's business strategies given the industry's declining sales at the time.[10]

In March 2020, Hudson's Bay Co.'s CEO Foulkes announced that she is leaving the company following the deal to reached with shareholders to go private.[11][12]

Personal life

Foulkes has four children, and runs marathons. In 2009 her mother died from lung cancer.[1] She is a granddaughter of Thomas J. Dodd and a niece of Chris Dodd, both former US senators from Connecticut.[1][2]

References
  1. Wahba, Phil (September 11, 2015). "The change agent inside CVS". Fortune. Retrieved September 13, 2015.
  2. "Helena Buonanno Weds W. G. Foulkes". The New York Times. July 23, 1989. Retrieved September 16, 2015.
  3. Steinberg, Stephanie (July 16, 2013). "Around the Water Cooler With CVS Caremark's Helena Foulkes". U.S. News & World Report. Retrieved September 13, 2015.
  4. Rao, Leena (July 14, 2015). "CVS Health chief: Consumers care more about wallet than health". Fortune. Retrieved September 13, 2015.
  5. Kennedy, Kelly (February 5, 2014). "CVS Caremark to stop selling tobacco products". USA Today. Retrieved September 16, 2015.
  6. "Helena Foulkes, 51". Fortune. 2015. Retrieved September 16, 2015.
  7. "Saks Owner Hudson's Bay Appoints CVS Executive Helena Foulkes as CEO". Bloomberg.com. 2018-02-05. Retrieved 2018-02-06.
  8. "CVS Health exec named CEO of department store giant". Chain Store Age. Chain Store Age. 2018-02-05. Retrieved 2018-02-07.
  9. "Hudson's Bay Poaches Helena Foulkes From CVS". Fortune. Fortune. Retrieved 2018-02-20.
  10. Shaw, Hollie. "New Hudson's Bay CEO Helena Foulkes says 'no sacred cows' as retailer seeks elusive turnaround". Vancouver Sun. Retrieved 2018-07-23.
  11. Kapner, Suzanne (2020-03-03). "WSJ News Exclusive | CEO of Saks Parent to Step Down". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-03-04.
  12. Thomas, Lauren (2020-03-03). "Hudson's Bay CEO Helena Foulkes on the way out as retailer prepares to go private". CNBC. Retrieved 2020-03-05.
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