Macy’s Names New CEO

Cincinnati — The board of directors of Macy’s, Inc. has unanimously elected Jeff Gennette as chief executive officer, effective March 23, 2017. A 30-year veteran of Macy's, Gennette succeeds Terry J. Lundgren, who will continue as executive chairman.

“Jeff will be a terrific CEO for Macy’s, Inc. He has a deep knowledge of this company, coupled with the vision and determination to continue Macy’s transformation for the next generation. Jeff has a proven track record as a successful retail operator, seasoned merchant and business leader and has contributed significantly to the company’s long history of success,” says Lundgren.

“I’m honored to be taking on this role and excited about Macy’s prospects. While we certainly have our challenges, we also have great assets and opportunity. No company is better up to the task of reinvention than Macy’s,” says Gennette.

Prior to being named CEO, Gennette was president of Macy’s, Inc. since March 2014. Previously, he was chief merchandising officer of Macy’s, Inc. (formerly known as Federated Department Stores, Inc.), a position to which he was appointed in February 2009.

Gennette began his retail career in 1983 as an executive trainee at Macy’s West in San Francisco. He held positions of increasing responsibilities, including vice president and division merchandise manager for men’s collections, and senior vice president and general merchandise manager for men’s and children’s. In 2004, Gennette was appointed executive vice president and director of stores at Macy’s Central in Atlanta. During his career, he also served as a store manager for FAO Schwarz and director of stores for Broadway Stores, Inc. From February 2006 to February 2008, Gennette served as chairman and CEO of Seattle-based Macy’s Northwest. February 2008 to February 2009 brought him back to San Francisco as chairman and CEO of Macy’s West.

Macy’s, Inc. is one of the nation’s premier retailers. The company operates more than 700 department stores under the nameplates Macy’s and Bloomingdale’s, and approximately 125 specialty stores that include Bloomingdale’s The Outlet, Bluemercury and Macy’s Backstage. Macy’s, Inc. operates stores in 45 states, the District of Columbia, Guam and Puerto Rico, as well as macys.com, bloomingdales.com and bluemercury.com. Bloomingdale’s stores in Dubai and Kuwait are operated by Al Tayer Group LLC under license agreements. Macy’s, Inc. has corporate offices in Cincinnati and New York City

SOURCE: Macy’s, Inc.

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