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Macy's announces Gennette as new CEO
Jun '16
As a part of transition process of the retailing giant Macy's, the company has announced the appointment of new CEO, Jeff Gennette, replacing Terry Lundgren who has been serving as the company CEO since 2003, in the first quarter of 2017.

Additionally, Gennette will also be a part of Macy's board of directors with immediate effect, making the board size to be of 14 members. He will also be having additional management responsibility like keeping a watch on Macy's stores organisation.

Gennette was appointed the president of the company in 2014 from the position of a Chief Merchandising Officer. He has served at different roles in different locations of the company. He has also served as the store manager of Broadway Stores.

He is a graduate from Standford University.

“In making this announcement today, the board and I want to communicate proactively the timing of the CEO transition as we act to seamlessly implement our future plans,” Lundgren said commenting on the appointment.

“Jeff and our team are well equipped to continue the transformation of our company for the next generation of customers and associates,” he added.

Lundgren will continue as executive chairman of the company and work side-by-side with Gennette as president and CEO. (MCJ)

Fibre2Fashion News Desk - India

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