Power Shift at Macy's

Terry Lundgren to remain Executive Chairman as Jeff Gennette becomes CEO in the first quarter of 2017; Planned succession process supports upcoming strategies for business improvement.

Macy's, Inc. announced on June 23, 2016 that Terry J. Lundgren, the company's CEO since 2003 and Chairman since 2004, will transition the position of CEO to Jeff Gennette in the first quarter of 2017.  The transition is part of the board of directors' succession plan that included Gennette's election as President of Macy's, Inc. in 2014. Beyond the first quarter of 2017, Lundgren will continue as Executive Chairman of the company and work side-by-side with Gennette as President and CEO. 

Lundgren and Gennette will continue to work very closely together on improving current business trends and setting the stage for changes that will be announced as decisions are finalized.

Jeff Gennette, 55, was named President of Macy's, Inc. in March 2014 after serving as Macy's Chief Merchandising Officer since February 2009. From February 2008 to February 2009, Gennette served as chairman and CEO of Macy's West in San Francisco. He began his retail career in 1983 as an executive trainee at Macy's West. He held positions of increasing responsibilities, including vice president and division merchandise manager for men's collection 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. From February 2006 to February 2008, Gennette was chairman and chief executive officer of Seattle-based Macy's Northwest. During his career, Gennette also served as a store manager for FAO Schwarz and director of stores for Broadway Stores, Inc. Gennette, a native of San Diego, is a graduate of Stanford University. 

Does this change make you want to shop more at Macy's?