Macy’s CEO Jeff Gennette will retire, handing the reins to Tony Spring, who runs the company’s Bloomingdale’s chain
Tony Spring will hold the titles of Macy’s president and CEO-elect and will join the company’s board.“Macy’s is in a really good position,” Mr. Gennette said in an interview. “We came through the pandemic financially stronger, more agile and efficient.”
The 61-year-old Mr. Gennette will soon leave a company he joined in 1983 as a management trainee. He is one of theof a major corporation and drew on his own experience to help create a more diverse and inclusive culture at Macy’s. , which were losing share to discount chains as well as fast-fashion and online retailers. It had also faced a different activist investor, who pushed Macy’s to sell its real estate, and its weakened position had made it a target of a takeover attempt by a rival.
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