Jeff Gennette Named President of Macy’s, Inc.
March 31 2014 - 3:15PM
Business Wire
Macy’s, Inc. (NYSE:M) today announced that Jeffrey Gennette, who
has served for the past five years as Macy’s chief merchandising
officer, has been elected President of the corporation, effective
immediately. He will report to Terry J. Lundgren, Macy’s, Inc.
chairman and chief executive officer, and continues to be based in
New York City.
In this new role, Gennette will retain day-to-day responsibility
for Macy’s merchandising functions, as well as oversight of
marketing and macys.com. In addition, he assumes oversight
responsibility for Macy’s Private Brands organization.
“Jeff Gennette is an outstanding merchant who has proven to be
an insightful strategist and strong leader in our company,”
Lundgren said. “As our president, with the additional
responsibility for Macy’s private brands, Gennette will have a
total view of Macy’s merchandise assortment and marketing strategy
– both in stores and online – consistent with our omnichannel
vision. Our exclusive private brands, which have provided a
powerful competitive advantage for Macy’s, will continue to play a
vitally important role in delivering fashion, quality and value to
our customers.”
Gennette, 52, has been Macy’s chief merchandising officer since
2009. He served as chairman and CEO of Macy’s West for the previous
year, and was chairman and CEO of Macy's Northwest in Seattle from
December 2005 to February 2008. Before that, Gennette was executive
vice president and director of stores for Macy's Central in Atlanta
and SVP/general merchandise manager at Macy's West. Gennette joined
Macy’s West in 1983 as an executive trainee and held various
merchant and store management positions in that division. During
his career, Gennette also has served as a store manager for FAO
Schwarz and director of stores for Broadway Stores. A native of San
Diego, Gennette is a graduate of Stanford University with a degree
in English. He lives in New York City.
Macy’s, Inc., with corporate offices in Cincinnati and New York,
is one of the nation’s premier retailers, with fiscal 2013 sales of
$27.931 billion. The company operates about 840 stores in 45
states, the District of Columbia, Guam and Puerto Rico under the
names of Macy’s and Bloomingdale’s, as well as the macys.com and
bloomingdales.com websites. The company also operates 13
Bloomingdale’s Outlet stores. Bloomingdale’s in Dubai is operated
by Al Tayer Group LLC under a license agreement.
All statements in this press release that are not statements of
historical fact are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such
statements are based upon the current beliefs and expectations of
Macy’s management and are subject to significant risks and
uncertainties. Actual results could differ materially from those
expressed in or implied by the forward-looking statements contained
in this release because of a variety of factors, including
conditions to, or changes in the timing of, proposed transactions,
prevailing interest rates and non-recurring charges, competitive
pressures from specialty stores, general merchandise stores,
off-price and discount stores, manufacturers’ outlets, the
Internet, mail-order catalogs and television shopping and general
consumer spending levels, including the impact of the availability
and level of consumer debt, the effect of weather and other factors
identified in documents filed by the company with the Securities
and Exchange Commission.
(Note: additional information on Macy’s, Inc., including past
news releases, is available at www.macysinc.com/pressroom)
Macy’s, Inc.Media:Jim Sluzewski, 513-579-7764orInvestor:Matt
Stautberg, 513-579-7780
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