Macy’s Gennette takes the helm

The baton has officially been passed at Macy’s.



Jeff Gennette has been named as the department store chain’s new CEO, succeeding Terry Lundgren, who will continue as executive chairman.



Gennette, who has served as Macy’s president since 2014, is Lundgren’s handpicked successor. Prior to becoming president, he was appointed Macy’s chief merchandising officer in 2009.



Gennette began his retail career in 1983 as an executive trainee at Macy’s West in San Francisco, and continued to move up the ranks. He held positions of increasing responsibilities, including VP and division merchandise manager for men’s collections, and senior VP and general merchandise manager for men’s and children’s. In 2004, Gennette was appointed executive VP and director of stores at Macy’s Central in Atlanta.



During his career, he also served as a store manager for FAO Schwarz and director of stores for Broadway Stores. From February 2006 to February 2008, Gennette served as chairman and CEO of Seattle-based Macy’s Northwest. In February 2008, he found his way back to San Francisco as chairman and CEO of Macy’s West.



“Jeff will be a terrific CEO for Macy’s, Inc. He has a deep knowledge of this company, coupled with the vision and determination to continue Macy’s transformation for the next generation,” Lundgren said.



“Jeff has a proven track record as a successful retail operator, seasoned merchant and business leader and has contributed significantly to the company’s long history of success,” said Lundgren. “I’ve been honored to lead this great company, am thrilled to be passing the baton to such an exceptional leader, and look forward to my continued role on the board of directors.”



Gennette takes over at a critical time for the retailer. Besides operating in a volatile marketplace, the chain itself continues to combat sluggish store sales, optimize its store portfolio and make itself more relevant in a digital age.



“It’s a very meaningful day for me as I take on leadership of the company I’ve worked for and the colleagues I’ve worked with for more than 30 years,” Gennette said.



“I’m honored to be taking on this role and excited about Macy’s prospects. While we certainly have our challenges, we also have great assets and opportunity. No company is better up to the task of reinvention than Macy’s,” he said. “I want to personally thank Terry Lundgren for his leadership, his mentorship, and the support he has shown me over my career at Macy’s. Terry is a legend in retail and no one could have asked for a better teacher.”