Despite a possible hostile takeover of the Hudson’s Bay Co. (HBC), John Furlong, chief executive officer of the Vancouver Organizing Committee for the 2010 Winter Olympic Games, says he’s confident the Hudson’s Bay Co. will follow through on it’s $100 million commitment to the Games and the Canadian Olympic Committee.
According to the Globe and Mail Furlong said, “I cannot comment on contracts, our contracts, but I have absolutely no doubt whatsoever, if HBC is taken into another corporation or is taken over, that what we’ve done will continue as per the original strategy”.
The Bay displaced former Olympic outfitter Roots last spring and is launching its Canadian Olympic clothing line today.
Furlong added, “the Bay has a commitment for the long haul. My view is a new owner — if there is a new owner — would look at this, how exciting it is and the wide range of the Olympic products to be sold, and would keep the Olympic agreement as a key part of the company’s strategy”.
