TORONTO - Alison Coville, the president of iconic retailer Hudson's Bay, is stepping down.

Hudson's Bay Co., its Toronto-based parent company which also owns Saks Fifth Avenue and Lord and Taylor stores, did not give a reason for Coville's departure.

A release from HBC says Coville's exit will be effective Mar. 1 and that the company will be led by key executives until a permanent successor is found.

Coville joined HBC in 1999 as a divisional merchandise manager, but eventually rose through the ranks to land the president position in June 2017.

Coville also oversaw household goods brand Home Outfitters, which will be shuttering its 37 Home Outfitters stores this year.

The company previously said the closure will help it reduce costs, simplify its business and improve overall profitability.