US' Macy's CEO Jeff Gennette to retire, Tony Spring named CEO-elect

As president, Tony Spring will be responsible for leading Macy's digital, customer, merchandising, and brand teams, while overseeing Bloomingdale's and Bluemercury. Adrian Mitchell, the chief financial officer of Macy's, will also take on the role of chief operating officer. In his expanded role, Mitchell will lead the stores, technology, and supply chain teams, Macy's said in a press release.

Gennette will work alongside Spring and Mitchell until his retirement in February 2024 to ensure a smooth transition. Macy's board of directors expressed confidence in Spring's ability to lead the company, citing his experience, strategic vision, and commitment to innovation.

Spring has been known for his brand-building and customer-focused innovation during his 36 years at Bloomingdale's. He has also driven the success of Bloomingdale's. Spring serves on the boards of the National Retail Federation.

Adrian Mitchell has extensive experience in developing growth strategies and creating effective retail organisations. He has been integral in the development of the company's Polaris transformation strategy and has held executive positions at Crate and Barrel and Arhaus LLC.

Gennette said: “Serving Macy’s over the past 40 years has been a privilege. I’m proud of the exceptional work of our colleagues to strengthen Macy’s by successfully executing our winning Polaris strategy. We’ve done so during profound industry changes and economic challenges.”

“I’m excited that Tony Spring has been appointed Macy’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 strategies. 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 into the future.

"Upon retirement, Jeff will leave behind a legacy of important contributions in his seven years as CEO, including assembling a formidable leadership team to deliver on the opportunity ahead and building a purpose-driven culture guided by inclusive values. Tony is an excellent choice and a proven leader who has driven exceptional results for Bloomingdale’s, Bluemercury, and Macy’s. Together with Adrian’s strategic, operational, and financial talents, we have the right leadership team to drive long-term shareholder value,” said Paul Varga, lead independent director of the Macy’s board of directors.

Fibre2Fashion News Desk (DP)