Macy’s adds real estate expert to its exec team

Amid ongoing pressure from investors to maximize the value of its real estate holdings, Macy’s has appointed Douglas W. Sesler as executive VP for real estate, effective April 5.



Sesler, who most recently was president of real estate investment and advisory firm True Square Capital LLC, will oversee Macy’s real estate functions and lead initiatives to increase shareholder value including creating potential joint ventures or other partnerships involving the company flagship locations and mall-based properties. He will report directly to Terry J. Lundgren, chairman and CEO of Macy’s.



“Doug Sesler is a world-class talent with a track record of success in developing, leading and implementing real estate strategies and transactions,” Lundgren said. “We will rely on his experience, expertise and discipline to create and structure real estate opportunities that will create shareholder value, sustain our long-term financial strength and enhance our retail business.”



Prior to True Square, Sesler served from 2005 to 2011 at Bank of America Merrill Lynch International Ltd. in roles that included global head of principal real estate investments and global co-head of real estate investment banking.



Previously, from 1989 to 2005, Sesler served in a variety of roles at Citigroup and its predecessors, including as managing director of the global real estate investment banking group, and managing director of the Travelers Realty Investment Company.



Sesler’s appointment comes weeks after Macy’s appointed William Lenehan, the CEO of Four Corners Property Trust and an expert in real estate trusts, to its board.