06/18/2013 11:44 EDT | Updated 08/18/2013 05:12 EDT

Bonnie Brooks out as president in HBC management shakeup

Hudson's Bay Company shook up its management team Tuesday, moving president Bonnie Brooks upstairs to the role of vice-chair of the company's board of directors and tapping chief merchant Liz Rodbell to take over the president's job.

Canada's oldest retailer announced the changes in a press release Tuesday. Both individuals will report directly to company chairman Richard Baker.

"This new structure will continue to drive our long-term growth strategy, as we build upon the company's momentum toward revitalizing its banners and product offerings, and strengthening the customer experience," Baker said in a statement.

Brooks has stickhandled the retailer's turnaround plan since 2008 by focusing on higher-end goods and partnering with fashionable brands with in-store kiosks and mini-stores.

The moves will be implemented by January of next year, the chain said. After almost a decade in private hands, HBC went public in an IPO in November that raised $365 million.