Macy’s Longtime CEO to Retire Next Year
Jeff Gennette will step down in February 2024, passing the torch to the CEO of another notable retailer.
Gennette said it has been “a privilege” to work with Macy’s for the last 40 years.
He was appointed CEO in 2017 but got his start at the retailer in 1983 as an executive trainee at a Macy’s store in San Francisco, as per his LinkedIn profile.
“I’m proud of the exceptional work of our colleagues to strengthen Macy’s by successfully executing our winning ‘Polaris’ strategy,” he said, referring to the company’s turnaround plan.
“We’ve done so during profound industry changes and economic challenges,” he added.
The company’s board chose from within to replace Gennette, appointing Tony Spring, an executive vice president at Macy’s and Bloomingdale’s chairman and chief executive officer, as CEO-elect.
Spring also was appointed to be president and a member of the board of directors.
Spring has been with the Bloomingdale’s brand, which is under the Macy’s umbrella, for 36 years and was at the helm last year when the brand reached its highest ever sales volume and record customer engagement.
He serves on several boards in and out of the retail world, including on the National Retail Federation’s executive committee and board.
“Having worked closely with Jeff throughout our transformation, I see tremendous opportunity to build upon the storied reputation of each of our nameplates. We are further strengthening relationships with our customers through compelling merchandise, partnering with the best brands, and delivering great shopping experiences,” said Spring.
In his role as president, for the time being, Spring will be responsible for Macy’s digital, customer, merchandising, and brand teams, while also overseeing Bloomingdale’s and cosmetics company bluemercury.
“[Spring] has delivered strong results at Bloomingdale’s and has been an ally and trusted partner in advancing Macy’s strategies,” said Gennette. “Tony consistently innovates for the customer, is an exceptional brand builder and an excellent talent developer who has strengthened our culture through his leadership.”
As part of the leadership change, Chief Financial Officer Adrian Mitchell will take on an additional role, also serving as chief operating officer.
In the combined role, he will oversee the stores, technology and supply chain teams, as well as his existing finance and real estate oversight.
Gennette said, “I’m delighted Adrian’s role has greatly expanded, leveraging his deep strategic expertise, commitment to omnichannel operational excellence and strong financial discipline.”
Mitchell has served as CFO since November 2020, playing an important role in the retailer’s Polaris transformation plan.
Prior to joining Macy’s, he was a managing director and partner in the digital and consumer practices division of Boston Consulting Group. He was also the CEO of furniture company Arhaus and held executive roles at Crate and Barrel.
“I am excited to take on this new role to ensure that we further strengthen the disciplines that are modernizing Macy’s,” he said.
Gennette said Spring and Mitchell are “an ideal team to build on our momentum and propel Macy’s into the future.”
The Latest
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Sponsored by the Las Vegas Antique Jewelry and Watch Show
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”