JEFF GENNETTE OFFICIALLY TAKES CEO REINS AT MACY’S
Macy’s, Inc. has confirmed that Jeff Gennette has started his new position as chief executive officer, effective on March 23. As previously announced, 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,” said Lundgren. “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. I’ve been honored to lead this great company, am thrilled to be passing the baton to such an exceptional leader, and look forward to my continued role on the board of directors.”
Prior to 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 chief executive officer 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.
“It’s a very meaningful day for me as I take on leadership of the company I’ve worked for and the colleagues I’ve worked with for more than 30 years,” commented Gennette. “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 re-invention than Macy’s. I want to personally thank Terry Lundgren for his leadership, his mentorship, and the support he has shown me over my career at Macy’s. Terry is a legend in retail and no one could have asked for a better teacher.”
Marna C. Whittington, Macy’s, Inc. lead independent director, added, “Jeff is an extremely talented executive who has had an enormous impact on the Macy’s, Inc. organization over his tenure. We are confident that he will be a strong leader, guiding the company on the path to growth and increasing shareholder value. On behalf of the entire board of directors, I also want to thank Terry for his outstanding leadership. We are happy to continue our partnership with him in his role of executive chairman.”
