Cincinnati — Macy’s, Inc. has appointed Paula A. Price as chief financial officer, effective July 9, 2018. She will succeed Karen Hoguet, who plans to retire at the end of the 2018 fiscal year. Hoguet will remain with Macy’s in an advisory role until February 2, 2019.
Price will be responsible for leading the company’s finance, accounting, investor relations and internal audit functions. She will report to Jeff Gennette, Macy’s, Inc. chairman and chief executive officer, and will be based in New York.
“I’m excited to have Paula join Macy’s, Inc. at such an important time for our business,” says Gennette. “She is an accomplished financial executive with an impressive breadth and depth of retail experience and will be a great addition to the team. Having led finance in a variety of complex and dynamic retail organizations, Paula’s insights and experience will serve Macy’s, Inc. well.”
Adds Gennette: “Karen Hoguet is truly one of the great leaders in retail. I want to again thank her for her outstanding contributions to the company over the past three decades, for her partnership with me over the past year, and for her support through this transition.”
Price joins Macy’s, Inc. with 30 years of finance experience primarily in retail and consumer-facing businesses. She is currently a full-time senior lecturer in the accounting and management unit at Harvard Business School, a role she has held since 2014.
In her most recent corporate role as executive vice president, CFO of Ahold USA, Price led a team of over 1,000 across finance, accounting, strategy and planning, real estate and information technology. Prior to that, she served as senior vice president, controller and chief accounting officer of CVS Caremark Corporation, where she was a major contributor to the execution of the CVS/Caremark merger.
Macy’s, Inc. is one of the nation’s premier retailers. The company operates approximately 690 department stores under the nameplates Macy’s and Bloomingdale’s, and more than 160 specialty stores that include Bloomingdale’s The Outlet, Bluemercury, Macy’s Backstage and STORY. Macy’s, Inc. operates stores in 44 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.