New York City — Macy’s, Inc.’s chairman and chief executive officer, Jeff Gennette, plans to retire in February 2024 after serving the company for 40 years. Tony Spring, Macy’s executive vice president and Bloomingdale’s chairman and CEO, has been appointed by the board of directors as the company’s next president and CEO-elect, and a member of the board of directors. As president, Spring will be responsible for leading Macy’s, Inc.’s digital, customer, merchandising and brand teams, while overseeing Bloomingdale’s and bluemercury.
Adrian Mitchell
As a part of the leadership transition, Macy’s chief financial officer, Adrian Mitchell, will expand his responsibilities to include the role of chief operating officer. In the combined role, Mitchell will lead the stores, technology and supply chain teams, in addition to his existing finance and real estate responsibilities. Gennette will work side-by-side with Spring and Mitchell until February 2024 to ensure a smooth transition.
“Serving Macy’s, Inc. over the past 40 years has been a privilege. I’m proud of the exceptional work of our colleagues to strengthen Macy’s, Inc. by successfully executing our winning Polaris strategy. We’ve done so during profound industry changes and economic challenges,” says Gennette. “I’m excited that Tony Spring has been appointed Macy’s, Inc.’s president and will become CEO upon my retirement. He has delivered strong results at Bloomingdale’s and has been an ally and trusted partner in advancing Macy’s, Inc.’s strategies. Tony consistently innovates for the customer, is an exceptional brand builder and an excellent talent developer who has strengthened our culture through his leadership. And I’m delighted that Adrian’s role has greatly expanded, leveraging his deep strategic expertise, commitment to omnichannel operational excellence and strong financial discipline. Tony and Adrian are an ideal team to build on our momentum and propel Macy’s, Inc. into the future.”
Adds Paul Varga, lead independent director of the Macy’s, Inc. board of directors: “I especially want to acknowledge Jeff for leading Macy’s, Inc. through the challenges of the global pandemic and establishing a solid foundation for sustainable and profitable growth by developing and executing the Polaris transformation strategy.”
Spring has been a customer-focused innovator during his 36 years at Bloomingdale’s, known for his exceptional brand-building and merchandising talents. As chairman and CEO of Bloomingdale’s, he has driven the success of the nameplate, which delivered its highest sales volume and record customer engagement in 2022. He has also repositioned bluemercury into a vibrant and growing nameplate for the company. Spring has served as a key member of the Macy’s, Inc. executive leadership team and has been instrumental in the company’s transformation.
Mitchell is a seasoned retail leader, with a diversity of experiences developing growth strategies and creating more effective retail organizations. Serving as CFO of Macy’s, Inc. since November 2020, he has been integral in the development and execution of the company’s Polaris transformation strategy to drive sustainable and profitable growth. Prior to joining Macy’s, Inc., Mitchell advised retailers as managing director and partner in the digital and consumer practices of Boston Consulting Group. He also served as CEO to home furnishings retailer Arhaus LLC and held several executive positions at Crate and Barrel.
Macy’s, Inc. is headquartered in New York City. For more information, visit www.macysinc.com.
SOURCE: Macy’s, Inc.